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Transnet sells housing loan book in R1.4bn deal
Business Report
Transnet yesterday sold its housing loan book for R1.4 billion to FirstRand in a deal that both parties described as being good for the parastatal.

Maria Ramos, Transnet's chief executive, said: "The price of R1.4 billion we believe is a good deal, so we are very delighted."

Michael Jordaan, FNB's chief executive, said to Ramos: "I compliment you on your tough management style. We also think you have a good deal out of it."

FirstRand was selected as the preferred bidder from a shortlist of three, which was drawn from 10 initial bidders.
Business Report

Xingwana hands over R1bn land
News24.com - South Africa
Agricultural and Land Affairs minister Lulu Xingwana says women should benefit from the settlement of land claims. Handing over commercial land valued at R1 billion to four communities in Mpumalanga, Xingwana said it was crucial that women were not marginalised.

"Women must benefit significantly from the economic benefits that follow with this claim," she said. The minister handed over 32 hectares of land to the communities of Lugedlane, Siboshwa, Hhoyi and Mbambiso, who were dispossessed of their land in 1954 in line with the Native Land Act of 1913. News24.com

Sell property at your peril
Moneyweb.co.za - South Africa
Beware: the new National Credit Act has just made it a whole lot harder to trade up - or buy-to-let
Beware: the new National Credit Act (NCA) has just made it a whole lot harder to trade up - or buy a property for investment purposes.

Whatever you own now with the help of a bank loan, you should keep if you can. Only make a move to swap a property if you have established you'll get a loan for the next one. This was the message Moneyweb got when we went on an undercover investigation shopping for loans this week.

We visited the "big four" - ABSA, Standard Bank, Nedbank and FNB - and found that it's very tough for people who want to borrow money these days. Banks have been declining many loan applications in recent weeks as the NCA is implemented.

SAPOA wants registration of deeds "an essential service"
RodneyHayter.com - South Africa
The South African Property Owners Association (SAPOA) has called for the services of the South African Deeds Registry to be deemed 'essential'.

"With a staggering R5,3 billion-worth of property registrations going through Deeds Registry offices across South Africa each month, the need to declare the Deeds Registry process as an essential service in the future to prevent the massive costly disruptions to the property sector is painfully clear," says CEO of SAPOA Neil Gopal. Gopal will be petitioning the Chief Registrar in this regard.

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