Sunday , April 11 2021

Business Tycoon James McMahab loses due to the well-off debt of Jobgoor's house



At the end of the month, the uppermost Zimbabwean businessman, James Makamba, is the luxury home of Johannesburg's multifunctional mansion house following the court order.

Makamba, known to be known as the ally of former Zimbabwean President Robert Mugabe, is believed to have shown an enormous debt of R59m in the Absa wealth unit due to mortgage, credit card and vehicle finance accounts.

The property is scheduled to go under a hammer on November 29 with opening offers starting at R25m.

Mamba, who has an interest in telecommunications, retailing and agriculture, refused, among other things, to comment, saying only that this issue was not significant.

On Wednesday, a statement from High Street Auctions Leading Officer and Director Joffin van Reenen said that the court decision was sold on March 29th to Villa Royale, a corporate building.

The statement also states that the mansion, which is approximately 1650 m², has five luxury suites, an unsurpassed landscaped area and several lounges.

"The public areas include a wine cellar, a modern gym, a 13-seat cinema with back-up backs, a cigar lounge, a spa and a games room," the statement said.

Sandhurst is well known as one of the largest trophy locations in the country.

The statement states that AfrAsia Bank and the New World Wealth report say that of the 2,200 two-million-dollar SA, Sandhurst is home to 120.

– Fin24

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