The Free State Development Corporation was established with the primary aim of growing the economy of the Free State and creating much needed jobs. The Corporation, among others, is charged with the promotion and development of small, medium and micro enterprises and them with funding by advancing loans.
Deep assessment of the performance of this entity revealed trends consistent with those in many other state-owned entities in the past years. Questionable and poor decisions were taken resulting in the corporation losing its stable financial situation and negatively affecting the very SMMEs it is meant to support and develop. These decisions and actions by some of those who were charged with the oversight and management responsibility of this corporation are seen by the current management as nothing but systematic destruction of value of this institution of the people of the Free State.
