Mpumalanga 'cash cow' agency bleeds R285m in unpaid loans

Mpumalanga 'cash cow' agency bleeds R285m in unpaid loans

Mpumalanga’s main business funding agency has become a cash cow for inexperienced entrepreneurs who take loans and vanish. The Mpumalanga Economic Growth Agency (MEGA), created to support small businesses and drive development, is bleeding public money. A damning parliamentary report shows that MEGA has failed to recover over R285 million in loans and other receivables. Loan beneficiaries, many of them start-ups with limited capacity, simply too…