Friday, October 9, 2009

Sithengi Press Statement

The following release was today received from the current Sithengi Board. Sithengi is the struggling industry market.

SITHENGI has received the news that the new Minister of Arts and Culture, Minister Lulu Xingwana “has called for a moratorium on all spending pending a forensic investigation”. This means that the funding that SITHENGI was promised by DAC in December 2008 will not be available as yet. This after SITHENGI had fulfilled the requirements of both a New Funding Proposal and an Audited Creditors Statement to ensure that all SITHENGI debt will be paid-up from the proposed R 5 Million and the remaining R 1 Million would be used as seed funding for a SITHENGI Market this year. The Audited Creditors Statement was sent toNFVF since the SITHENGI funds were meant to be channeled through the NFVF. Given this present situation the SITHENGI Board hereby informs the industry that we will suspend further activities until such time that DAC will be able to release SITHENGI’s agreed upon R 5 Million.
For enquiries contact:
Faith Isiakpere (Chairperson)
Judi Nwokedi (Deputy Chairperson)
Firdoze Bulbulia (Media Liaison, Spokesperson)