Dreams shattered as firm goes bust

MORE than 150 drivers have been without an income for months after the BEE scheme in which they had invested went under.

MORE than 150 drivers have been without an income for months after the BEE scheme in which they had invested went under.

Now, instead of getting answers about the reasons for the scheme's collapse, the directors and shareholders of Cargo Africa and Cade Transport are blaming each other for the companies' demise that has left at least 153 drivers without an income.

The owner-drivers from all over SA transported goods such as glass, cars, tyres and perishables. They saw an opportunity to run their own businesses through Cargo Africa's BEE scheme.

Five years ago, they were made an offer they could not refuse.

Each of them would join a driver-owner scheme and at the end of the five-year contract they would take ownership of the trucks.

Dave de Kock from Cape Town was one of the people who took up the promise of a better life. Today he says the scheme has left him poorer.

"Because Cade Transport folded, I do not have any income," De Kock said.

"I'm stuck with a truck I do not own and whose licences have expired. The managers have left us in the red."

Jan Mofokeng, 52, of Sebokeng in the Vaal, said he joined the empowerment scheme early last year after signing a 60-month contract.

"It has been only a year, but I know I am heading the same way," said the father of seven.

"I wanted to create a better future for my family.

"Instead, my dream has been shattered," Mofokeng added.

Another owner-driver, William Mohlakoana, of Springs in Ekurhuleni, said he was already receiving calls from Imperial Bank inquiring about instalments for the truck.

According to Alan Taylor, Cade Transport went into liquidation in June last year. He left Cade two months earlier, in April 2009, after he had stayed on as a director after the acquisition by AHI and Investec Bank.

Icon Insolvency Practitioners (Pty) Ltd and Westrust (Pty) Ltd are the joint liquidators.

lSee page 14

X