A-G Slams NYDA Over Unpaid Loans

The NYDAY will not recover R161 million of the loans it granted aspiring entrepreneurs, says the Auditor-General’s office

The National Youth Development Agency (NYDA) may never recover R161 million of the loans it granted aspiring entrepreneurs, according to the Auditor-General’s office.

In its report to Parliament on the NYDA, the Auditor-General's office also casts doubt on the agency's ability to recoup the millions.

Meanwhile, NYDA chief executive, Steven Ngubeni, says that the agency is in the process of taking legal steps against defaulters because they had failed to give ‘valid’ reasons for not being able to repay their loans.

To read the article titled, “A-G slams NYDA over unpaid loans,” click here.

Source: 
Sowetan Live

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