Durban developer fights back against rogue ‘federation’ stopping major construction projects
Millionaire developer and businessman Vivian Reddy will not bow to threats of intimidation by business forums that stormed the site of the R4.2bn Oceans development in Umhlanga on Wednesday. Lagoon Drive in the plush beachfront precinct was closed as a mob of protesters came onto the construction site‚ stopping work and calling on staff to leave the premises. The move was orchestrated by the Federation for Radical Economic Transformation (FFRET)‚ an umbrella body encompassing smaller black business forums‚ including controversial outfit Delangokubona. They claim that Reddy’s business was not aimed at empowering black people. Reddy‚ who was out of the country‚ said he was made aware of the protest action. "We have complied with 50% empowerment. There shouldn’t be these protests because we have complied with the black economic empowerment (BEE) requirements." Reddy said the forum was aware that it had to submit a list of contractors‚ who could tender for work on the project, adding, "...
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