Johannesburg - Futuregrowth has lifted a funding freeze on the Development Bank of Southern Africa (DBSA), the DBSA said yesterday after the conclusion of a rigorous due diligence process, during which Futuregrowth reviewed the DBSA’s governance structures, processes and independence, the bank said.
“Following the suspension announcement two months ago, we have been proactively engaging with Futuregrowth to understand and address their concerns. We are pleased that our relationship has been restored and strengthened,” said DBSA chief executive Patrick Dlamini.
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The due diligence process confirmed that the DBSA has an appropriately constituted board with a suitable balance of skills and experience; a positive and constructive relationship between the board and the executive committee; and evidenced application of policies and processes.
“We have committed to increasing reporting on board and investment activities,” said Dlamini.
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