Once again, Daphne Mashile-Nkosi, the founder and majority owner of Kalagadi Manganese (KM), is facing trouble from fellow shareholders. On 29 April, the Industrial Development Corporation (IDC), a major South African public investment fund with a 20% stake in the firm, unilaterally initiated a business rescue procedure at the South Gauteng High Court.
The IDC contends that KM will be unable to honour two debts that reach maturation this year. One of them, worth 3bn rand ($174 million), was contracted
