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ANC-aligned Johannesburg property company rams through a multibillion-rand property deal
In a near-bankrupt and hobbled city where homeless people sleep in bus shelters and on the streets, the City of Johannesburg has passed a plan to spend R1.4bn on high-cost property leases and an additional R2bn (rising to R12bn) to renovate the Metro Centre.
Source: Wikipedia.
Whistle-blowers at the Johannesburg Property Company (JPC) have told DA chief whip Leah Knott that the majority of the leases are going to ANC property mogul Lonwabo Sambudla, a favoured contractor.
A spokesperson for his company, Bayete Capital, said they had not heard anything from the JPC and that they had tendered along with other companies. Sambudla is a longstanding ANC member and former chief executive officer of the ANC Youth League’s Lembede Investments.
Read the full article by Ferial Haffajee at Daily Maverick.
Source: Daily Maverick
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