Investec dons Santa’s hat: Cancels mortgage bonds on 3,600 properties in Gauteng townships

The Rupert Family handed out full freehold title deeds to 70 residents of Aberdeen in the Karoo in November this year and a further 326 title deeds have been sponsored in Stellenbosch by Johan Rupert and his wife Gaynor. It represents land reform, not enforced by government but out of a sense that the wrongs of the past should be addressed by the private sector. Investec has since announced that it has cancelled the mortgage bonds registered over 3,600 properties in 14 townships in Gauteng and that the debt is being waived by the banker and asset manager. Danni, Dixon, head of Marketing for Investec SA told Biznews that most of the bond holders were elderly people. - Linda van Tilburg