Delta Dairies to be liquidated
Wednesday, October 22, 2014
Sigwele had tried in vain to stop the court from shutting down the company after it was put under provisional liquidation in August.
In granting orders that the milk company winds up, justice Rannowane said its finances were in a perilous state, and quoted various independent audit reports and numerous lawsuits filed by creditors against Sigwele’s company.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...