3600 Investec title deeds a gift of Christmas joy for needy

Investec, the international banking and asset management specialist, could be mistaken for father Christmas this year as it announced it was distributing 3600 title deeds for houses in 15 townships around Gauteng. Supplied
JOHANNESBURG – Investec, the international banking and asset management specialist, could be mistaken for father Christmas this year as it announced it was distributing 3600 title deeds for houses in 15 townships around Gauteng.

Investec said yesterday the houses were valued at between R80000 and R100000 each, without disclosing the total value of the title deeds.

The recipients are people who are unable, due to financial stress, to repay their mortgages and needed the “homes the most”.

South Africans are battling a tough economic climate with continuous increases in daily living expenses.

Richard Wainwright, the chief executive of Investec Bank, in response to questions, said Investec was not setting a precedent for the business sector to provide houses, which the South African government was mandated to do.

Source: iol.co.za