SA Based Zimbabwean businessman, Mutumwa Mawere, has hit hard times and is on the verge of losing his luxury house to ABSA bank.
The Sunday World Newspaper reports that Mawere has been unable to pay his R21 000 a month bond instalment for over 7 months. ABSA has now obtained a default judgement to auction his house.
The newspaper says Mawere was granted a R2 Million loan from ABSA to purchase the Rivonia house in 2019 and another R400 000 further loan using the same property as security.
Mawere is R133 000 in arrears.
Please read the full story in today’s Sunday World Newspaper – 25 April 2021.