VERBATIM: Court hears IDC scandal in detail


Former Industrial Development Corporation (IDC) Executive Director for operations Paul Siame has told the court that when the Development Bank of South Africa vetted the Corporation before deciding to lend it money, it emerged that two of the board members were linked to criminal activities, with one allegedly arrested for drug related charged in Asia. And Siame, who is also former State House economic advisor, revealed that former Finance Minister Alexander Chikwanda used an acting Secretary to the Treasury, Pamela Chibomba Kabamba to instruct the PACRA CEO Anthony Bwembya to change the composition of the IDC board.

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