Edwafin investors speak

2009-05-23 00:00

INVESTORS who put their faith in Hillcrest-based Edwafin Investment Holdings (Proprietary) Limited appear to have mixed feelings regarding the court’s decision to have the company provisionally liquidated.

Fritz and Linda Weilbach of Pietermaritzburg invested R200 000 for their two sons. Fritz Weilbach said he is happy with the move.

Mlungisi Zuma, another investor who worked for Edwafin for several years, told Weekend Witness that he has bitter-sweet emotions. “I feel very bad as I know that I’m going to lose a lot of money. But I understand that there is no other way.”

“I believe about half the investors, particularly the older people, wanted the company to go on. Many people who don’t understand business want the business to continue ... because they saw the interest [payments] coming in until recently,” Fritz Weilbach said.

He expressed the hope that investigations will provide more clarity regarding the affairs of Edwafin.

Zuma said,“We understand that we are not going to recover all the money. A great portion is going to be lost. At least there will be an investigation into the way the company and the related businesses were run ... and where the investments have gone.”



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