Bankrupt Free State mega farmer kills himself

2018-11-20 10:10
PHOTO: Getty Images

PHOTO: Getty Images

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

A bankrupt farmer from Warden in the Free State has died after shooting himself in his garden on Sunday.

Police spokesperson Sergeant Mmako Mophiring told News24 on Tuesday that Paul Steyn, a mega farmer, shot himself at around 08:00 on Sunday while sitting in a chair in his garden on his farm.

"His wife heard a gunshot and initially thought that there were intruders. She called one of her relatives who works at Warden police station and the police hurried to the farm."

Mophiring said Steyn's wife then discovered that he had shot himself.

Steyn was airlifted to a hospital in Bloemfontein where he was declared dead on arrival.

"Police are investigating the incident," Mophiring said.

According to Volksblad, Paul Steyn Boerdery, one of the largest farming businesses in the Free State, was declared bankrupt in the High Court in Bloemfontein in August because of debts amounting to R141m.

Netwerk24 reported that the business, belonging to Steyn and his son Gerrit, could not honour its debt to Standard Bank.

The business reportedly produced potatoes, maize, soya beans and raised cattle on various farms around Warden and Harrismith.

Court records indicate that the business' total debt amounts to R178m, Netwerk24 reported. This includes R79 013 467 on an overdraft, more than R41m in loans and R21.1m for purchasing equipment.

The company reportedly could not honour its debts because of poor harvests.

KEEP UPDATED on the latest news by subscribing to our FREE newsletter.

- FOLLOW News24 on Twitter

Read more on:    bloemfontein  |  agriculture

Inside News24

Traffic Alerts
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.