Another twist in the Fidentia tale

Danisa Baloyi, one of South Africa's top businesswomen, has been told to repay a massive loan by the curators of beleaguered Fidentia, accor-ding to a report posted on the Cape Argus website on Monday.

Danisa Baloyi, one of South Africa's top businesswomen, has been told to repay a massive loan by the curators of beleaguered Fidentia, accor-ding to a report posted on the Cape Argus website on Monday.

There have been claims that the loan, said by sources close to Fidentia to be R8million, was being written off at the time that the curators took over the administration of the company. This week Fidentia boss J Arthur Brown said that while it was true that Baloyi had an outstanding loan, the curators were demanding it be repaid.

He declined to comment on the amount.

This is the latest twist in the ongoing and unravel-ling multimillion rand investment scandal that has left thousands of widows and orphans without their monthly payments, the report said.

Baloyi is head of the Road Accident Fund and was named Businesswoman of the Year for 2003.

Until recently Baloyi, along with Brown, was a director of Living Hands, the Fidentia-owned entity that administers the Living Hands Umbrella Trust - the body responsible for administering funds belonging to the Mineworkers Provident Fund. - Sapa

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