3,600 South Africans have just had their entire mortgage scrapped!

3,600 South Africans have just had their mortgages scrapped and their title deeds handed to them, as a corporate gives back this festive season!

 

Johannesburg, South Africa – Investec have made a contribution to real economic empowerment in South Africa through the distribution of title deeds to homeowners in Gauteng townships.

The company is distributing 3,600 title deeds for houses in 15 different townships around Gauteng.

Setlogane Manchidi, head of CSI at Investec, joined the Good Things Guy jacpod to discuss the incredible initiative!

Investec has, at its own cost, cancelled the mortgage bonds registered over the properties. The title deeds of the properties are being returned to the registered owners, and the substantial underlying debt is also being waived by Investec.

“One of Investec’s most cherished values is that we strive to live in society, not off it. This is something of a mantra inside the bank that we live by,” says Richard Wainwright, CEO of Investec Bank Ltd.

“An opportunity has arisen out of a legacy transaction to facilitate full homeownership for thousands of families. They now have a home of their own and an asset they can use in other life-changing transactions, like starting a business or educating their children.”

The distribution of most of the 3,600 title deeds will take place between November and December 2019, with the intention of completing the handovers within the first quarter of 2020.

“We’re thrilled to be handing over these title deeds,” says Wainwright.

“We believe that the ownership of land and the ability for a person to call it their home is an integral part of social and economic development in South Africa, something we are grateful to be able to play our own part in.”


Sources: Investec
Don’t ever miss the Good Things. Download the Good Things Guy App now on Apple or Google
Have something to add to this story? Share it in the comments or follow GoodThingsGuy on Facebook & Twitter to keep up to date with good news as it happens or share your good news with us by clicking here
Click the link below to listen to the Good Things Guy Podcast, with Brent Lindeque – South Africa’s very own Good Things Guy. He’s on a mission to change what the world pays attention to, and he truly believes that there’s good news all around us. In the Good Things Guy podcast, you’ll meet these everyday heroes & hear their incredible stories:
Or watch an episode of Good Things TV below, a show created to offer South Africans balance in a world with what feels like constant bad news. We’re here to remind you that there are still so many good things happening in South Africa & we’ll hopefully leave you feeling a little more proudly South African. 

Facebook Comments

Brent Lindeque
About the Author

Brent Lindeque is the founder and man in charge at Good Things Guy.

Recognised as one of the Mail and Guardian’s Top 200 Young South African’s as well as a Primedia LeadSA Hero, Brent is a change maker, thought leader, radio host, foodie, vlogger, writer and all round good guy.

Leave a Reply

Your email address will not be published. Required fields are marked *