President Cyril Ramaphosa’s son Andile is drowning in debt. Image via Twitter @Advovolicious
Homeless: President Cyril Ramaphosa’s son, Andile is heavily in debt
President Cyril Ramaphosa’s son – Andile Ramaphosa is about to lose his house and car for reportedly failing to pay his R1.8 million loan.
President Cyril Ramaphosa’s son Andile is drowning in debt. Image via Twitter @Advovolicious
The president’s eldest son – Andile Ramaphosa is reportedly being repossessed of his house and car for failing to keep up with his R1.8 million loan that he took from Standard Bank seven years ago.
Ramaphosa who was previously in the headlines for receiving R2 million from corruption was in court this past week.
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ANDILE RAMAPHOSA: AUCTIONED HOME AND CAR
Entrepreneur Andile Ramaphosa – who is the son of current president Cyril Ramaphosa is about to lose his house and car!
The businessman was reportedly dragged to the Johannesburg High Court this week by Standard for failing to pay his R1.8 million loan that he obtained seven years ago.
Ramaphosa used his Edenburg home and his luxurious car as surety for the loan according to the Sunday World and sarichandfamous.com article.
The article adds that Standard Banks wants to auction off his home, his luxury saloon and his BMW 650i to pay what he owes.
The businessman agreed to pay R15 000 for 120 months (10 years).
“In breach of the medium-term loan agreement, the respondent failed to make payment of the installments due and as of 12 October 2021.”
“The respondent was accordingly indebted to the applicant in the amount of R1.491 452.98.”
He also received a loan of close to R1 million from the bank for his luxury BMW 650i.
Ramaphosa allegedly agreed to pay R13 400 per month for 72 months but defaulted and was R86 000 in areas.
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TWEEPS REACT TO HIS R1.8 MILLION LOAN SCANDAL
@Scelosamantiman:
“Not long ago Malema said he doubts that Ramaphosa and Patrice are real billionaires I think that makes sense now.”
@RangaClara:
“Aowa these are lies, there is something huge going on and u are trying to distract us with this rubbish.”
@Mavuthel71:
“Homeless but he is a billionaire president and uncle wealthy mxm.”
@Hayiboo:
“Wow!????…so Zondo said nothing about Andile-BOSASA’s unholy relationship at the behest of his father, Cyril Ramaphosa.”
“Twitter called Zondo out, now a publicity stunt to portray Andile as bankrupt so that we forget that, just like Mantashe he received BOSASA ‘corrupt’ money????Mxm!”
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