James Makamba’s sprawling Johannesburg property could soon be confiscated by Absa bank to recover a $4.5m (R59m) debt owed by the Zimbabwean businessman.
The debt is understood to have accumulated in mortgage, credit card and vehicle financing accounts the businessman opened with Absa’s wealth unit.
Makamba, who is a top Zimbabwean businessman and close ally of former president Robert Mugabe, put up the Sandhurst property, Villa Royale, as surety.
The five-bedroom mansion, complete with wine cellar and private chef, costs R80,000 a night to rent, and has accommodated the likes of US rapper Nicki Minaj.
On the website that rents it out, Makamba says: “I am Zimbabwean by birth, but live in the United Kingdom now. However, with my many business ventures, I often find myself back in Africa and for this reason Villa Royale was created.”
more recommended stories
South Africa oil discovery could be a game-changer and major boost for the economy
South Africa’s offshore has just yielded.
Despite heavy discounting Boxing Day sales ‘attracting fewer shoppers’
The number of people heading to.
Zimbabwe third quarter net revenue rises by over 22 pct
Zimbabwe’s net revenue for the third.
Gupta brother ‘threatened to kill’ top South African finance official
South Africa’s former Deputy Finance Minister.