13 years ago 13 years ago

Government property in SA to be sold

by Charles Rukuni 13 years ago13 years ago

The South Gauteng High Court in Johannesburg ruled today that one of three properties belonging to the Zimbabwean government be auctioned. Two other properties will not be auctioned because they enjoy diplomatic protection. The beneficiaries will be farmers and the German bank, KFW, who suffered a loss during the land reform process. KFW is owed 40 million Euros. The property is expected to fetch between R1 and 3 million.

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Posted by Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.