Article

2018-09-03 Africa Subsaharan

Bank Tells South African Farmers They Will Have to Pay Debts for Property Seized by the State

[Breitbart] South African farmers subjected to land expropriation without compensation will still have to pay off their debts for property which has been seized by the state, according to a major bank.

In an email from Nedbank widely circulated on social media, now confirmed as genuine by Head of Group Media Relations Kedibonea Molopyane, according to The South African, farmers are warned that their debts will have to be paid in full even after their property is confiscated by the government.

It reads as follows:

"It is important to note the Home Loan agreement is subject to a contractual agreement, and bond payments remain due and payable until such time that the bond is paid in full irrespective of any form of land expropriation ‐ with or without compensation. We would encourage you to continue with the bond payments until such time a determination is made."

The African National Congress (ANC) under President Cyril Ramaphosa passed a motion for the expropriation of land without compensation in February 2018, originally moved by its former youth leader Julius Malema ‐ who now heads the Economic Freedom Fighters (EFF), a radical black nationalist and Marxist-Leninist party.

Posted by Besoeker 2018-09-03 00:00|| || Front Page|| [11136 views ] Top

#1 You cannot be serious!

Posted by John McEnroe 2018-09-03 00:31|| 2018-09-03 00:31|| Front Page Top

#2 Or what? You'll repossess their farms?

Posted by SteveS 2018-09-03 00:46|| 2018-09-03 00:46|| Front Page Top

#3 Following a similar path as banks did here during the farming crisis of the 1970's. Sheriff's auctions were held to sell off 'no longer needed' tractors and implements, the proceeds going to the lending institutions.

Posted by Besoeker 2018-09-03 02:50|| 2018-09-03 02:50|| Front Page Top

#4 The same thing happened in Zimbabwe, the farmer loses his land and goes broke.

Posted by bernardz 2018-09-03 05:23|| 2018-09-03 05:23|| Front Page Top

#5 When government grabs your farm I assume you don't get to drive the tractor away. This seems like the bank trying to get their cut of the land grab so they don't lose everything as well.

Posted by ruprecht 2018-09-03 13:33|| 2018-09-03 13:33|| Front Page Top

#6 Kind of like civil forfeiture laws in the US. Gov takes your money. Never charges you with any crime. You can have it back if you can afford to hire a lawyer...

Posted by Iblis 2018-09-03 16:18|| 2018-09-03 16:18|| Front Page Top

#7 Wrong answer. The piece of shit country that took the farm pays the note.

Posted by newc 2018-09-03 17:16|| 2018-09-03 17:16|| Front Page Top

#8 "... farmers are warned that their debts will have to be paid in full even after their property is confiscated by the government."

Posted by Anomolous Sources 2018-09-03 18:00|| 2018-09-03 18:00|| Front Page Top

17:40 swksvolFF
17:34 Ebbuger Whuque4103
17:30 Ebbuger Whuque4103
17:02 Melancholic
16:27 Gravilet Snanter4154
16:20 Chaise Speaking for Boskone7897
16:02 Skidmark
16:01 Skidmark
15:46 Skidmark
15:41 Skidmark
15:37 swksvolFF
15:36 Skidmark
15:34 Skidmark
15:27 Skidmark
14:48 NoMoreBS
14:31 NoMoreBS
14:16 NoMoreBS
14:15 NoMoreBS
14:04 swksvolFF
13:47 Regular joe
13:43 swksvolFF
13:38 swksvolFF
13:34 swksvolFF
13:31 Abu Uluque