The KwaZulu-Natal Growth Fund (KGF), Industrial Development Corporation (IDC) and private investors have burnt their fingers and lost more than R330-million in an ill-fated cookware-manufacturing plant which has now been liquidated. INSA, in which the KGF, IDC and private funders had invested hundreds of-millions, was liquidated by the Pietermaritzburg High Court in November last year after failing to pay creditors.
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