The Free State Development Corporation (FDC) board says it will implement consequence management to resolve the institution’s financial troubles. The board has disclosed that the entity has a huge deficit and it is also owed a lot of money. As part of its renewal strategy, a new board has been appointed and has 36 months to turn the entity around. The board has made a call to past funding beneficiaries to repay the loans so that the board can continue to fund other businesses. The embattled entity faced liquidation. Auditor-General (AG) Tsakani Maluleke, has reported irregularities found at th…

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