It is difficult for a person who looks like me to get a loan in the South African economy. It’s difficult to get a loan and start a business as an African child without any form of assistance. There are so many brilliant dreams and ideas that black young people have but there’s no financing for them.
South African politician
Thembisile Phumelele Simelane-Nkadimeng (born 10 February 1973) is a South African politician who is currently serving as the Minister of Justice and Constitutional Development since July 2024. A member of the African National Congress (ANC), she was previously the Minister of Cooperative Governance and Traditional Affairs between March 2023 and June 2024. Formerly a student activist at Turfloop, Nkadimeng began her career as a public servant and entered professional politics in July 2014 as Mayor of Polokwane. In the last years of her mayoral term, she was additionally the president of the South African Local Government Association from 2019 to 2021. She joined the national government in August 2021, when President Cyril Ramaphosa appointed her as Deputy Minister Cooperative Governance and Traditional Affairs.
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I’m not sure if I would have done things differently. I should have looked into them and their registration but they were registered with the Financial Services Board, which I thought was sufficient to prove they are in the finance business. Like any other [due] diligence in getting a loan, I should’ve thought better than I did.”
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I don’t know who they were involved with. The only way to get to know where Gundo has invested will be through a section 52 report, which comes every three months to update the council about the status of its investments, if there are any. That’s how I could’ve known about their investments. In terms of the names of the people, I don’t know and I’ve never met them.