Miscommunication is the reason for MST's PIC dispute, inquiry hears
Company chairman puzzled about why PIC thinks his firm has reneged on its loan contract
04 July 2019 - 13:09
The chairman of a company at the centre of a dispute with the Public Investment Corporation (PIC) over the use of a loan says he thinks a breakdown in communication between various departments at the state-owned asset manager led to the current situation.
Fernando Acafrao, the chairman of MST Vehicles, a “social impact” company which borrowed money from the PIC to build and convert bus chassis into a range of specialised units for socially important projects including mobile maths learnerships and AIDS clinics, cannot understand why the PIC thinks the company has reneged on its contract. ..
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