Capital Appreciation says various alternatives are being explored for citizen engagement company GovchatOrg . Software CapitalAppreciation GovChat EldridJordaan Businessrescue FinTech
This, after Capital Appreciation placed GovChat into business rescue in December 2022, over loans it advanced to the firm. and R12 379 778 plus interest .
As part of its conditions of the business rescue, Capital Appreciation says it committed to providing the business rescue practitioner with a post-commencement funding facility for GovChat to the end of May. “Capital Appreciation is in the process of finalising its annual results for the year ended 31 March 2023. In finalising the results, the board has considered its position in relation to its associate, GovChat. The group has resolved to adopt a conservative approach by raising an expected credit loss provision of R70.8 million for GovChat.
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