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Neighbours threaten action over Gupta properties

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The Gupta news story has more sequels than the Police Academy Movies . Neighbours threaten action over Gupta properties Saxonwold residents are now threatening legal action should the City of Johannesburg give the green light to an illegally built mansion situated within the multimillion-rand Gupta compound. Neighbours of the Guptas are now demanding compensation, decreed in a council building ordinance, for the 'loss of value, privacy and amenity' to their homes and lifestyles, with some no longer able to enjoy their pools and gardens because of what they call the 'triple-storey monstrosity'. This week, a team from the city council's building committee conducted an inspection of the property, but the council told the Saturday Star that while it had reached a decision on the illegal building, it would not make it public. The Gupta family have applied to rectify the illegal alterations to their mansion. Last month, the Saturday Star revealed how the Gu

Top KZN building firm close to collapse

Top KZN building firm close to collapse One of KwaZulu-Natal's biggest construction groups, Stedone, is on the brink of financial collapse and a major creditor, the Industrial Development Corporation (IDC), is trying to force it into liquidation so that an investigation can be conducted into what happened to the R240 million loan it advanced. And, while an 'investor' has been found to take over, the IDC says it believes the companies cannot be saved. In papers filed yesterday in the Durban High Court, IDC legal manager Marcus Sen yatsi said an investigation was necessary into 'suspicious financial activity' including how its loan of R240m, granted in November last year, was spent in just six months. Senyatsi said a R10 million payment from the Coega Development Corporation was received on Saturday, April 6, this year. Two days later, on April 8 - when the business rescue commenced - it had disappeared. Senyatsi also accuses the man in charge of the busine

Nedbank and AFD to fund affordable properties

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Nedbank and AFD to fund affordable properties Affordable housing ownership in South Africa is to receive a boost from a partnership between Nedbank and the French Development Agency (AFD). Affordable homes under construction in Eldorado Park, Johannesburg. Nedbank said yesterday that it had introduced a R17 000 grant provided by the AFD to boost ownership in this sector of the market. The bank's initiative will be supported by its borrowers education programme, which aims to empower consumers through knowledge and instil financial fitness principles. The initiative follows the significant shot in the arm given last month to the development of affordable housing in South Africa and sub-Saharan Africa through the investment of more than $63 million (R630m) into the second fund of global private equity investor International Housing Solutions (IHS). The International Finance Corporation, a member of the World Bank group, has contributed $25m to the fund. The National Hous

Denny Crane

Denny Crane
It's not me ... yet. Denny Crane from the TV series Boston Legal. Click on picture if you're not sure who he is!