The long-awaited R60bn class action lawsuit against banks for repossessing and selling properties for a fraction of their worth, will be heard in Gauteng High Court (Johannesburg) from 24 February 2026 and could last four days. 

As previously reported, the case was initiated in 2018 by the Lungelo Lethu Human Rights Foundation – which was set up to protect homeowners facing eviction – and Advocate Douglas Shaw.

Moneyweb reports that foundation president Nkululeko Xhelithole says the law has for too long been weaponised against consumers, and cites an example of a pregnant Soweto woman who was left homeless after being evicted from her home – having no idea it had been sold at a sheriffs’ auction.

In another case, a Vosloorus man spent nine months in prison for supposedly ‘trespassing’ in his own home after discovering it had been sold to a new owner. He, too, had no idea he was in arrears or that his home had been sold at auction. 

‘The abuses by the banks are particularly evident when it comes to home foreclosure, and it cannot be divorced from SA’s apartheid history,’ Xhelithole said.

Banks have successfully blocked new affidavits being submitted as evidence, after the initial case was lodged with the court more than eight years ago.

They have also asked for a de bonis propriis order against Shaw, which could amount to more than R5m, for various perceived breaches of court rules. 

Moneyweb reports that the banks have also attempted to exclude from evidence a National Credit Regulator database that appears to show thousands of homes being sold well below market value.

This database contains more than 24 000 examples of properties being repossessed and sold at auction – some for as little as R100 and R1 000.

These are apparently based on the banks’ own figures (excluding Absa).

Full Moneyweb report