The sectoral education and training authority (Seta) for the services industries denied on Tuesday it is in a financial crisis, or asking the government to bail it out.
”From a solvency point of view, we don’t have any problems,” CEO Ivor Blumenthal told reporters in Pretoria.
He said the body’s ratio of current assets to liabilities is 2.39:1.
”The Seta at no stage made an appeal to the Department of Labour for any type of debt relief whatsoever,” Blumenthal said.
”No discussions ever ensued with the department in this regard, and at no stage did the department every say so.”
Blumenthal denied recent reports in the Business Day newspaper that the Seta has debt of about R200-million and pleaded last year for a ”massive cash lifeline” from the department.
The newspaper also said the ”debt crisis” prompted the department to begin an investigation into the Seta’s activities.
The department’s sector liaison manager, Mlulami Mdani, denied on Tuesday that any investigation or audit will be instituted. — Sapa