Johannesburg - The National African Federated Chamber of Commerce and Industry (Nafcoc), the black business chamber, yesterday denied allegations that it was bankrupt.
"The organisation is not bankrupt E We have an investment holding company, which is worth R300 million and participates in many operating businesses," said Abram Napo, the acting president of Nafcoc.
Nafcoc would not disclose its cash position, but confirmed that money was owed to the South African Revenue Service (Sars).
"The money that we are owing is from before 1994, and we are in continuous talks with the government about money owed to the apartheid regime," said Napo.
However, Sars said the general amnesty granted for tax accumulated prior to 1994 had lapsed.
Sources close to Nafcoc said it had failed to apply for the amnesty because it had a problem with how it was structured.
The chamber, which has been plagued by controversy since former president Steve Skhosana resigned last week, also denied allegations of corruption among officials and said it would shortly release auditors` reports on the organisation.
