Umthwalo hit-maker Zahara is collapsing under the heavy
load of debts she is carrying on her shoulders.
Sunday World can exclusively reveal that Zahara failed to
oppose an application brought by Nedbank last year to repossess her almost R2m
gated property in the ritzy suburb of Little Falls, west of Joburg. We can also
reveal that Standard Bank wants to repossess Zahara’s Range Rover Evoque after
she allegedly failed to keep up with her monthly installments.
These two cases come in the wake of a week of turmoil for
the star who came out to allege that her two former managers, TK Nciza and Sbu
Leope of TS Records, owe her millions of rands after underpaying her for her
record sales and performances, a claim the record label has denied.
She claimed she was gearing up to sue TS Records as she did
not want to be like other musicians “who die as paupers”.
Zahara, real name Bulelwa Mkutukana, referred questions to
her lawyer but declined to furnish their name or contact details.
According to papers Sunday World has seen, Zahara received
a R1.9m mortgage bond from Nedbank to purchase her Little Falls house in 2012.
Documents show that she also obtained a R475 000 mortgage
loan from the same bank but only one property reflects on her credit profile.
The guitar-strumming artiste was supposed to pay just under
R18 000 in monthly instalments but allegedly failed to do so.
“The last payment the applicant received from the
respondent [Zahara] was on June 30, 2017 and the total outstanding amount on
the account in respect of which the execution is sought is R1 731 684.62,” read
the papers.
The singer, who amassed millions of rands in paid gigs and
radio and TV royalties when she was at the zenith of her career as her album
Loliwe sold more than 500 000 units, allegedly failed to pay back the loan.
“In terms of the mortgage bond the applicant [Nedbank] is
entitled to repayment of the full outstanding balance together with interest
from the respondent [Zahara] in terms of the agreement and/or the mortgaged
(sic) bond at a rate of 10.50 percent which indebtedness is currently owing,
due and payable.
“The respondent is in breach of the agreement and/or
mortgage bond and has been in such breach for quite some time,” further read
the papers. According to Standard Bank papers pertaining to her flashy wheels,
the financial institution granted Zahara a R438 197 loan in January last year
to purchase a 2014 Evoque SUV.
“The term of the agreement was 72 months. The total cost of
the agreement including interest, costs and charges would be the amount of R631
932.48 which would be repaid to the plaintiff [Standard Bank] by the defendant
[Zahara] by way of an initial deposit of
R38 000 and the balance by way of 71 payments of R8 776.84 each at 1 monthly
intervals beginning on 1 March 2018 and 1 final payment of R8 776.84 payable on
1 February 2024.”
Although Zahara paid the deposit, she allegedly failed to
keep up with the monthly instalments of the luxury vehicle and was R33 725.41
in arrears in February this year when the bank wrote a letter of default and
notice.
“Notwithstanding the default notice, the defendant has
failed and or refused and or neglected to remedy her breach of the agreement.”
The bank is asking the court to cancel the contract and to
also take back the 2014 Evoque 2.2 from the muso.
– SundayWorld
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