Malawian man accuses Nedbank of reckless lending as court rules bank can repossess Sunninghill home due R2. 6 million debt
Image: Tracey Adams/Independent Newspapers
A Malawian man who has been unable to meet his monthly bond payments has accused Nedbank of reckless lending after owing over R2.6 million on his home loan.
Bonface Tintin Ndawala, an accountant and a CEO of a mobile company in his home country, bought his home in Sunninghill, Johannesburg in October 2011.
He purchased his home with a bank loan of R2.4 million.
Initially, Ndawala was responsible for paying R27,559.62 each month, but his last payment was made in August 2021, amounting to R20,221.14. The failure to maintain payment resulted in arrears exceeding R977,000.
In court, Ndawala represented himself after his attorney withdrew a few hours before the hearing. He told the court that he holds 5,400 shares valued at R1,000 each in Midveldt Investments (Pty) Ltd, which he claimed could be sold to alleviate his financial burden.
However, Nedbank said Ndawala failed to attach an evaluation certificate from an actuary or other accountant to confirm the value of those shares.
This argument was accepted by Acting Judge JL Bhengu who said given the fact that Ndawala's indebtedness spans from 2021, he should have at least taken steps to sell his shares to cover his debts, if indeed the shares are worth that much.
"It is unreasonable for Mr Ndawala to expect the creditor to undertake the exercise of verifying the existence of the shares when he cannot do it himself, despite such information falling within his personal knowledge," said the judge.
Moreover, Ndawala explained that as a CEO, he was in the process of finalising an agreement with a potential investor where he could raise over R200 million and this would have allowed him to pay the arrears in one go.
He complained that because he was not legally represented, he was unable to bring proof of the contract and license of the business that he was referring to.
Dissatisfied with his explanation, the judge said Ndawala's complaints had no merit because he was always legally represented throughout the proceedings up until a few hours before the hearing.
His other defence was that the bank's interest charges were exorbitant, and the bank failed to assess his financial position at the time of granting the loan, amounting to reckless lending.
This argument was also thwarted by the judge due to the fact that at the time he applied for the bond, he was employed by Cell C and earned over R200,000.
"There is no explanation from Mr Ndawala why he agreed to these terms of the loan, only to challenge them almost 13 years later when he is having financial difficulties. It is trite that contracting parties cannot escape the enforcement of contractual terms on the basis that enforcement would be disproportionate or unfair in the circumstances," said the judge.
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Advertisement
Next
Stay
Close ✕
Ad loading
Upon reviewing the evidence, the court considered the fact Ndawala owned a home loan exceeding R2.6 million and was in arrears of over R977,000, with the amount still increasing. With these facts, the judge deemed it appropriate to declare the property to be repossessed by the bank.
"I am of the view that foreclosure will also assist Mr Ndawala to alleviate the escalating indebtedness not only on the home loan but also towards other creditors like the municipality and the homeowner's association."
In May 2023, a property evaluator valued the property at R2.8 million, whereas the municipality valued it at R2.6 million. Conversely, the bank suggested a sale price of R2.2 million, which the judge deemed fair, taking into account the outstanding amounts owed to the municipality and the Homeowners Association.
However, Ndawala contended that the property was worth over R5 million. He said R2,2 million was too low and argued that R4 million was more reasonable.
Ndawala's argument was dismissed because his finding was not supported by a property evaluator. In contrast, the bank relied on independent evaluators to support their position.
Despite ruling in favour of the bank, the judge suspended the order for six months to give Ndawala enough time to finalise the deal which he claimed would settle all his debts at one go.
"I decided to grant him the benefit of the doubt by suspending the operation of the order for six months in order to give him a fair chance to bring his arrears up to date," read the judgment.
The judgment was made in June 2024, and the reasons were not written.
In July 2025, Nedbank approached the judge to request written reasons that informed the ruling. The reason for this request was because Ndawala had submitted an application for leave to appeal the judgment.
sinenhlanhla.masilela@iol.co.za
IOL News
Get your news on the go, click here to join the IOL News WhatsApp channel
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
5 hours ago
- IOL News
Citrus and Wine industries plead with Ramaphosa for protection from looming tariffs
The Citrus Growers Association of Southern Africa (CGA) in a statement said they want an exemption for seasonal fresh produce from US President Trump tariff. Image: Doctor Ngcobo / Independent Newspapers As US President Donald Trump's sweeping and wide spread tariffs close in on South Africa, the citrus and wine industries have called for action to be taken by President Cyril Ramaphosa to stave off the detrimental effects it could have on them. On Monday, the wine industry said that South Africans should double down on supporting the local wine industry to offset the 30% tariffs that the United States government has slapped on South African wine exports. The industry stated that the tariffs threaten to erode the gains the local wine industry has achieved in the bumper harvest of 2025 and will potentially haemorrhage the jobs in the wine industry ecosystem. Eustace Mashimbye, Chief Executive Officer of Proudly South African said, "Spurred by favourable preferential trade terms from the African Growth and Opportunity Act (AGOA), South African wine exports to the United States enjoyed zero tariffs and propelled the United States to become South Africa's fourth-largest wine export market by value after the United Kingdom, Germany, and the Netherlands." According to the figures released by the South African Wine Industry Information and Systems (SAWIS), approximately R600 million worth of wine was exported to the United States in 2024. 'The 30% tariffs on South African wine exports to the United States don't bode well for the viability, margins, and jobs in the wine industry. We must look for alternative markets, which is a laborious process that takes time. Currently, the most viable market is us. As consumers, hoteliers, restaurant owners and liquor traders, we have an opportunity to buffer this important industry against the looming headwinds by ramping up support for local wine winemakers,' said Mashimbye. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ 'Over and above showcasing the finest wines from emerging wine makers, the Local Wine Expo also fosters national pride and showcases career and entrepreneurial opportunities that are available in this space," she said. Meanwhile, the Citrus Growers' Association of Southern Africa (CGA) said it wrote to President Cyril Ramaphosa, asking for urgent action on behalf of rural communities in the Northern and Western Cape where citrus to the US is grown and whose livelihoods are reliant on US-SA citrus trade. "This week, with the tariff deadline on Friday, is one of great anxiety for the citrus growers in the Western and Northern Cape. These two provinces annually export about 7 million cartons to the US," said Dr Boitshoko Ntshabele, CEO of the CGA. The CGA said it asked President Ramaphosa to urgently facilitate an extension of the current 10% US tariff beyond 1 August, which would allow for negotiations toward a mutually beneficial trade agreement. The CGA also requested that, if a general extension of the deadline is not possible, an urgent request for a specific extension for seasonal fresh produce should be secured. Seasonal fresh produce is perishable and cannot be stored for extended periods, like other trade products. The midpoint of the 2025 export season has just been passed, which means hundreds of thousands of cartons of citrus are ready in packhouses to be shipped to the US over the next few weeks. The implementation of a 30% tariff on 1 August will mean most of this fruit will be left unsold. South African citrus growers do not pose a threat to US growers or jobs, as the produce sustains demand when local US citrus is out of season, benefiting US consumers. "Citrus as a source of nutrition also helps to keep America healthy. Should we not be able to secure a favourable trade deal, or the concession for fresh produce, local job losses before the next season will be a certainty," added Dr Ntshabele. Gerrit van der Merwe, Chairman of the CGA, said, "Being a grower in Citrusdal, I am very worried about the effect the tariffs will have on our town and the wider Cederberg municipality. Citrus forms the economic heart of the area. Not just farmers and farm workers will feel the impact, local businesses and even the funding of social support programmes will be affected as well. The social fabric of some rural towns in the Western and Northern Cape is being threatened." "Local growers have also said that a 30% tariff could not only stifle future growth, but lead to the eventual destruction of between 500 and 1000 ha that would simply become unprofitable," Van der Merwe added. BUSINESS REPORT
IOL News
7 hours ago
- IOL News
Understanding South Africa's reliance on foreign labour, and the way forward
In many sectors, particularly construction, infrastructure, and logistics, demand for specialised, high-risk or niche skills far outpaces local availability. Image: Henk Kruger/Independent Newspapers South Africa's labour market faces a difficult contradiction: unemployment is high, yet many businesses can't find the skilled workers they need. This is especially true in sectors like logistics and construction, where foreign labour is often used to fill urgent gaps. While this approach helps keep operations running, it often raises concerns that jobs are being taken away from South Africans. But framing the issue as a choice between local and foreign labour doesn't capture the complexity of the problem. What's needed is a practical, balanced approach - one that meets immediate business needs while supporting long-term local skills development. Temporary Employment Services (TES) providers can help businesses strike this balance by handling legal compliance, ensuring fair hiring, and supporting programmes that transfer skills from foreign to local workers. Skills shortages vs. employment needs In many sectors, particularly construction, infrastructure, and logistics, demand for specialised, high-risk or niche skills far outpaces local availability. These shortages are often compounded by the need for flexibility in project-based or high-turnover roles - demands that foreign labour is sometimes better positioned to meet quickly. Foreign workers can also bring specialist expertise not yet widely available in the local talent pool. In these cases, such professionals serve not just as short-term resources but also as potential mentors and catalysts for local upskilling. The issue, then, is not whether foreign labour has a place in the South African economy – it clearly does – but how this labour is recruited, managed, and integrated into the workforce in a way that aligns with national priorities. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Enabling compliance and ethical hiring TES providers offer a compliant, ethical, and efficient framework for meeting urgent workforce needs without undermining employment equity or legal standards. By handling vetting, documentation, and permit validation, TES partners ensure that foreign workers are lawfully employed and that all contracts meet the requirements of the Basic Conditions of Employment Act, Labour Relations Act, and other applicable regulations. Importantly, TES providers reduce legal and reputational risk for employers by acting as the legal employer of record, managing worker conditions, pay, and compliance on behalf of their clients. This arrangement offers much-needed operational flexibility while maintaining the integrity of South Africa's labour laws. Building local talent for the long term One of the most strategic roles TES providers can play is facilitating skills transfer from foreign to local workers. Through structured mentorship, buddy systems, and training programmes, TES can help businesses develop a pipeline of South African talent for future roles. Foreign specialists become short-term enablers, not long-term replacements – helping to upskill locals and reduce future reliance on imported skills. This approach supports inclusive growth by uplifting local communities and reinforcing long-term economic stability. It also helps businesses align their workforce strategy with transformation and employment equity goals, which are vital in today's South African business environment. Strategic workforce planning is a shared responsibility Creating a resilient, future-ready workforce requires collaboration between industry, government, and TES providers. Joint sector forums can help identify critical skills gaps, while shared investment in accredited training and mentorship will build a stronger local talent pipeline. Clear policy and streamlined immigration processes are also essential to support fair, lawful hiring. At the same time, businesses should be incentivised to invest in local skills development while managing foreign employment responsibly. By linking hiring strategies to SETA-accredited programmes and forecasting future needs, companies can meet immediate demands and contribute to sustainable growth, job creation, and national transformation goals. Finding the way forward South Africa doesn't need a binary answer to the foreign vs. local labour debate – it needs a smart, fair, and inclusive solution. TES providers are uniquely positioned to offer just that: a scalable, compliant, and opportunity-driven model that addresses short-term skill shortages while laying the foundation for long-term talent development. Foreign expertise should uplift, not displace local talent. With the right partnerships and policies in place, South Africa can close the skills gap, create jobs, and build an economy where both local and foreign expertise are part of the solution – not in competition, but in collaboration. Jacques Maritz is the national sales and service manager of Quyn International Outsourcing. Image: Supplied * Jacques Maritz is the national sales and service manager of Quyn International Outsourcing. ** The views expressed do not necessarily reflect the views of IOL or Independent Media. BUSINESS REPORT
IOL News
10 hours ago
- IOL News
Keeping democracy on the straight and narrow through social dialogue
Solly Phetoe is general secretary of Cosatu. Image: Doctor Ngcobo / Independent Newspapers. Democracies are sites of contestation. It is important to engage in debate anchored upon facts, honesty and respect for institutions of social dialogue. Cosatu has been dismayed by the explosion of fake news over the past few years. Of late we have seen this addiction to peddling hysteria expand to the Nedlac labour laws reforms negotiations. It is important to reassure workers that their hard-won rights, guaranteed by the Constitution and set in law, will continue to remain intact. Covid-19 highlighted numerous gaps in our labour laws, from 4 million informal workers falling outside the social security net, to actors and artists lacking collective bargaining protection. The Department of Employment and Labour with Business and Labour at Nedlac agreed to an open discussion on our labour laws with all parties allowed to table proposed amendments. Cosatu was deeply concerned by government and business' initial proposals which we felt would seriously erode the protections in law that took decades of struggles to achieve. We were disappointed that labour's proposals were disregarded. The Federation chose to continue to engage, to prevent a rush to table Bills at Parliament and to battle on at Nedlac to not only block such proposed weakening of our labour laws but to put in place amendments to address many gaps that workers have experienced from our factories to our farms. Negotiations require strategic acumen, tactical agility and a level of compromise. Most importantly they require you to pitch at the negotiating table. Pity parties at home with friends win nothing. Cosatu is pleased that despite an initial set of proposals that have would gutted our labour laws, we managed not only to block amendments that would have set workers back but to score major victories that labour campaigned for over many years. Initial proposals included exempting SMMEs from the bulk of our labour laws. Cosatu successfully blocked this as the majority of workers are employed by SMMEs and this would have left them vulnerable to abuse and exploitation. Exemptions from retrenchment processes for SMMEs were tabled. This would have left workers exposed to no protections or retrenchment payments. Not only did we manage to have this proposal withdrawn but also secured an agreement to increase retrenchment compensation from one to two weeks' pay for every year employed going forward. This will be a powerful disincentive for employers to avoid retrenchments and provide workers with greater relief when they lose their jobs. We were deeply concerned by proposals to allow for the firing of workers under thirty years of age with less than two years of experience without recourse to protections. Whilst we support the call to help young people find work this must not be at the expense of their rights. Again, we managed to persuade negotiation partners that this is a flawed approach. Probation periods have long existed in South African labour law allowing employers some flexibility to assess a new employee's performance within a framework of protections. Proposals to exempt middle-income workers from taking grievances to the CCMA were blocked and amended to the top tax bracket, e.g. CEOs who can afford to take matters to the Labour Courts. This will help free up a badly overstretched CCMA to focus on low- and middle-income workers who don't have the time or resources for Labour Courts. Cosatu and our predecessors fought for decades for the National Minimum Wage, achieving this historic victory in 2019. Then too we were insulted as the greatest sellouts in the history of humanity by our critics. Today it has raised the wages of 6 million farm, domestic, construction, hospitality, transport and other vulnerable workers. Initial proposals to roll back the NMW and allow blanket exemptions have been stopped and we have managed to secure a critical agreement protecting the NMW from deductions, e.g. bonuses, 13th cheques etc. that would erode its hourly value. Alarming reports show 7 700 employers defaulting on pension funds. Agreement has been secured on requiring labour inspectors to check employers' pension funds' contributions compliance and with 20 000 labour inspectors being recruited to boost these efforts. The economy is not static. Laws have to be amended to keep pace with the changing nature of work. We are pleased we have been able to secure amendments that recognise the rights of atypical workers, e.g. actors and e-platform workers to collective bargaining and that engagements will soon start on our proposals to ensure such workers, including those in the informal sector, are covered by the Unemployment Insurance and Compensation of Occupational Injuries and Diseases Funds. This may require a hybrid model but what matters is that all 17 million workers are protected. There are areas where Cosatu remains deeply opposed to some proposed amendments, in particular the definitions of and protections from unfair labour practices plus exempting start up SMMEs from Bargaining Councils' collective agreements for two years. These would threaten millions of workers' protections and undermine collective bargaining central to the rights of vulnerable workers and labour market stability. The proposed amendments are now before the State Law Advisor to ensure constitutional compliance they will be released for public comment. They will then return for further engagements at Nedlac and then be tabled at Cabinet. Parliament is likely to be seized with the Bills during 2027 and 2028 and will have further public engagements. They may then be submitted for Presidential assent in 2029. Amilcar Cabral wisely said, 'Tell no lies, claim no easy victories'. These are words peddlers of fake news about the draft Bills would do well to reflect upon and to utilise the mechanisms provided for to engage on their content. Cosatu will continue to utilise Nedlac and Parliament as well as bilateral engagements with government and business to ensure its remaining concerns are addressed before the Bills are tabled at Cabinet and Parliament and that workers' hard-won rights are not only protected but in fact strengthened and expanded. This is a battle that Cosatu will win. Cosatu General Secretary Solly Phetoe *** The views expressed here do not necessarily represent those of Independent Media or IOL. BUSINESS REPORT
