Land Bank sues ANC heavyweights

2014-03-30 11:01
(File, AFP)

(File, AFP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Johannesburg - The state-owned Land Bank has brought a claim against several ANC heavyweights, high-ranking government officials and property mogul Roux Shabangu, The Sunday Independent reports.

This was in a bid to recoup an unauthorised R82m loan it granted them for a bungled North West development.

The development was proposed as a huge tourism attraction in the Hartbeespoort area, with a hotel, conference centre, shopping centre and more than 400 sectional title units, the paper said.

But eight years after Westside Trading 570 signed the contract, the land was still vacant and had not been sold, the company was in liquidation, and the Land Bank was demanding its multi-million rand loan back with interest.

According to papers filed in the North Gauteng High Court in Pretoria, Westside Trading had failed to make payment of the R82m by the end of April 2009.

Summons was issued against the company and its nine directors, who stood surety and were co-principal debtors.

Shabangu, Gauteng legislature speaker Lindiwe Maseko, department of co-operative governance and traditional affairs chief operations officer Lydia Sebego, and former SABC board member Desmond Golding are among the nine shareholders in the company, the paper reported. Golding sits on the ANC's economic transformation committee and Cosatu's panel of progressive economists.

Read more on:    anc  |  roux shabangu  |  politics

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Millions of plastic particles in our food!

Scientists and researchers believe that almost five million tons of plastic is dumped in the oceans every year and it’s affecting our food.



Plastic on your plate
Prince George the green prince?
Lean, green, drifiting machine
One man's $1 million vision for an eco Africa

Book flights

Compare, Book, Fly

Traffic Alerts

Trying to keep time for your social commitments and friendships as well as taking care of work and health obligations can be more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.