Fund settles Mashatile relative’s R12.6m claim
The Gauteng Partnership Fund settled a R12.6m claim it had against Deputy President Paul Mashatile’s son-in-law Nceba Nonkwelo for R7.2m – effectively giving him a R5.4m discount.
The amount paid by Nonkwelo is the total his company had drawn down on loan facilities granted by the GPF between 2013 and 2017 linked to a housing project in Johannesburg.
The housing project failed and was never built.
According to a report by law firm GMI Attorneys, the project ran into major cost escalations when large rock formations were discovered during the initial construction phase more than a decade ago.
The R5.4m that was waived meanwhile, was made up of accrued interest, in part added to the account as per contractual provisions in a settlement agreement Nonkwelo had signed but then failed to honour in December 2024.
News24 previously reported that the GPF – a provincial agency focused on financing social housing projects – had settled with Nonkwelo but the amount paid is unknown.
The GPF and Nonkwelo both refused to disclose the final settlement amount linked to the claim.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
