NATIONAL ASSEMBLY
WRITTEN REPLY
PARLIAMENTARY QUESTION NO 1634
DATE OF PUBLICATION: 21 JUNE 2013
Mr K S Mubu (DA) to ask the Minister of Economic Development:
(a) How many companies that benefited from the Salvage Fund for Companies
in Distress have paid back the funds and (b) in each case, (i) how much has
been paid back and (ii) how much is still outstanding? NW1980E
REPLY
a) There are 78 companies that benefited from the R4.9 billion approved
from the Distress Fund of which, R3.2 billion was drawn, leaving R1.7
billion available for draw down.
b) (i) 3 companies have fully repaid approximately R1.5 billion
ii) 42 have partially repaid totalling R126 million and 12 have been
written off as bad debts, leaving 62 companies with active facilities
totalling R1.64 billion.