Blacks “robbed” by FNB running out of patience

By Pinky Khoabane


In what could be the latest delaying tactic by First National Bank (FNB) in the case involving allegations that it had discriminated against its low cost housing clients – Blacks living in townships – the bank has queried the jurisdiction of the Western Cape Equality Court where the matter is to be heard in March next year.

Frans Mokomane who is co-ordinating the claims of the more than hundred clients in Kwa Mhlanga in Mpumalaga says they’ve been waiting for almost five years for FNB to do the right thing and pay back the money it fleeced off them in interest rates.

Mokomane and thousands other low cost housing clients who had initially taken-out bonds with Saambou, argue that they were charged higher interest rates than their white counterparts.

Internal documentation discovered by FNB reveals that in the 1998/1999 financial years the interest rate on low cost housing was to be increasesed with prime +1.25% and that of high cost housing be increased by prime -.75%.
In July 2001 the rate of high cost housing was to be decreased by -.75% . Low cost housing was excluded from this decrease. The same happened in November 2001.

“We’ve been patient as FNB uses one tactic after another to delay paying us what they took from us. It’s not as if we are asking for charity, we want the money they took from us. The records are there that they overcharged us in interest and we want them to pay it back,” Mokomane says.

UnCensored published the rates charged one of the claimants, Magdalena Pietersen, which indicate that at times she was charged an interest rate exceeding what was permissible by law. http://uncensoredopinion.co.za/fnb-cheated-magdalena-pietersen-interest-rates-decreases/

Mokomane is one of the 326 clients from Kwa Mhlanga who were on Saambou’s low cost housing book when FNB bought it at the time of the former’s collapse in February 2002. FNB obtained the Saambou low cost book for R 2.8. billion in 1999/2000 financial years by securitasation. FNB was therefore responsible for the discrimination.

Of the 326 clients, 258 were being charged beyond the maximum interest rate permitted by the Usury Act which is a criminal offence. This happened during the time FNB administrated the Saambou low cost housing mortgage book.

On taking over Saambou’s book, FNB didn’t amend what the complainants view as unlawful and discriminatory practices, which included among others, internal communication which showed that the bank didn’t  inform low cost housing clients of fluctuating interest rates and the impact or benefits to them.

Mokomane says there was a time when he thought of giving up his home because he had no idea what repayments he would be paying from month-to-month. Like many in his situation, he couldn’t budget and fell easily into arrears. In 2010 Mokomane had his bond recalculated and he discovered he had been overcharged by R93,371.77 – with interest this amount could be around R150 000.

The black community members involved in the case have now vowed to embark on protest action that will include marches to FNB to demand their money.

The saga dates back to 1998 when financial investigating consultant, Emerald Van Zyl discovered that Saambou was charging its clients interest in advance – this in contravention of the Usury Act.

What this meant was that clients were charged interest on the entire bond before they even used it. Then further interest was calculated at the end of each month. The net effect was that clients who would were scheduled to repay their bond in 20years found it was extended by another 10 years.

Van Zyl says he raised the matter with the Registrar of the Usury Act and the South African Police Services and in 1999, Saambou adopted the lawful method of charging interest on arrears. This, Van Zyl says, the bank lost in the region of R110m in monthly income it had made from interest and in order to recover the R110m, Saambou began the discriminatory practice.

Saambou did not however refund clients the interest it had accrued as a result of charging clients in advance.

In September 2005, FNB conceded that Saambou clients had been systematically overcharged on a monthly basis and agreed to repay R154m. But Van Zyl challenged the calculation claiming that the R154m represented just a fraction of the Saambou clients and calculated that clients had been overcharged to the tune of R2 billion.

FNB knew of Saambou’s incorrect accounting before take-over

In an article in the Saturday Star in March 2010, FNB confirmed it had known of Saambou’s unlawful practice of overcharging clients before it took it over in 2002. A statement from a representative of the bank at the time said: “”In September 2002, the Saambou receiver placed adverts in major papers inviting claims by potential creditors – mostly homeowners affected by the incorrect calculation methods. Only a handful of claims were raised, and in September 2005 FNB took the decision to actively reimburse affected customers even though they had not claimed”.

FNB’s response to Forensic Experts’ Challenge

FNB published on their website, in media reports including Business Report two days later, that it was “prepared to pay for interest recalculators representing ex-Saambou clients to test this in court”.

It took Van Zyl and a team of forensic experts, Gregory Johnson and David Klatzow, almost a year to get the entire Saambou Book and the work of recalculating 3600 accounts began. “I only became aware that Saambou bonds were divided into two categories namely, High Cost Housing and Low Cost Housing, when I was handed the Saambou mortgage loan book in December 2010 by Cedric Dewrance, a former Saambou employer. It was only then that I discovered that the interest rate charged on low cost housing was higher than that of high cost housing,’ van Zyl explains.

Six years later he sent FNB an account to the amount of R1.8m for the recalculation but instead of payment, the bank accused him of using the race card to blackmail them for personal gain. “Interest recalculator uses race card against FNB for personal gain to the tune of R 1.8 million,” was the headline of the statement.

On 6 May 2013, van Zyl went to the North Gauteng High Court on two claims against FNB; that it had calculated interest in advance and had not adjusted interest rates in line with the prime rate.

Judge Louis Vorster rejected van Zyl’s claims and costs of R3m were awarded against him. The Judge said the bank had been reasonable in its calculations of interest. He further rejected the allegations that FNB had discriminated against Black clients. Van Zyl says this judgement was highly problematic because the issue of discrimination and racism had not been argued in Judge Vorster’s court.

Van Zyl’s Sequestration

When the bank called for their award, they found there were no assets to attach and on 19 March 2014, applied in the Western High Court to sequestrate van Zyl. They eventually won that case but the fight isn’t over yet.

The case now goes to the Equality Court and FNB is employing delaying tactics 

In delaying tactics which date back to 2013, FNB initially refused to provide the information which would provide the claimants to draw a declaration and was forced to do so in a ruling by the Western Cape High Court in February 2014.

Once the declaration was drafted, FNB described it as vague which further delayed the matter by another ten months.

Correspondence which UnCensored has seen, documents delays  from legal representatives of the bank in providing information required by claimants.

In September 2015, on two occasions, the claimants demanded information including interest rates charged, amounts in arrears and the codes of the various bonds which the bank used to classify its home loan clients. In correspondence from the claimants’ lawyers to FNB, they are forced to remind the bank of the Usury Act under which the loans were made and the National Credit Act of 2005 which both compel a credit grantor to release information required by a client. One of the letters makes reference to Rule 35(3) of the Uniform Rule of the Court which “requires compliance to ensure that parties are not prejudiced by obstructing behaviour on the other party”.

On January 2016, the claimants had to approach the Western Cape Equality Court demanding it compels FNB to disclose the information.

Only then did FNB on 15 February 2016 comply and release the information requested by the claimants.

The claimants – poor Blacks in townships – have had to apply to the courts to compel FNB to provide the information to properly prepare to go to court. Whatever move FNB may make to avoid going to court next March, one this is for sure – the natives in the townships have had enough – their patience has run out.

Attached (1) Application to compel FNB to provide info application-to-compel

Attached 2. FNB response where it was forced to provide information requested by claimants affidavit-shaun-chelin


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  1. PK,

    I Pray that you are well; that your heart problem is under control; that ‘it is well with your Soul’.

    Since I last commented on the 30th December 2016, and you answered me, I see on the BLF ‘site’ and I see on TV that Mr. Andile Mngxitama of BLF is ‘moving on’ Absa. I see that he is ‘going for’ Mr. “JR” Rupert. I see that Mr. Mngxitama is approaching Mr. Julius Malema of the EFF to ‘join forces’. So, in just the last 3 weeks ‘things are hotting up’. Praise the GOOD Lord JESUS.

    You are playing a pivotal role in all this reporting PK. Great. Keep it up dear. Let the People know the Truth through your pen (fingers); then Pray and leave the rest to GOD.

    Re your concern that Mr. Rupert and his “fiends” will not “GO TO JAIL” – where we ALL agree they belong (you wrote : ” Johann Rupert and his lot deserve prison but will we see it happen in our lifetime…I have very little hope. They literally own the state.”) I believe that it can happen; that it actually will happen. Please GOD.

    PK, we know that “these people” – such as Rupert and his “Afrikaner Nationalist Mafia Gang” and the others – will be Judged, for it is so written; in our Bible. Right. Well our Bible also Teaches us that GOD does not always wait for ‘Judgement Day’. There are many many instances recorded in the Bible where Evil people like “these people’ GO TO JAIL.

    Let us focus on letting the People of South Africa know the Truth about “these people” PK; and let us focus on our Prayers.

    Stay well PK; Shalom; Lord Bless, love Michael (heart).

    1. Michael so nice to hear from you. I was about to go look for you in the missing person’s bureau.

      Indeed Mr Mngxitama is going after ABSA & Rupert but I cant imagine him asking Mr Malema for help. They have since parted ways and Mr Malema has joined forces with Mr Rupert. The world is very strange.

      Keep well.



  2. Much complicated matters in your hands PK. You are in our prayers.

    Late last year we read of a family which is owed close to R3trilion by the SA GORVERMENT. According to Uncensored , an independent private forensic investigator had gone as far as United Kingdom and USA to gather information about the owed money.The matter seemed closedown for payment, but there came a delay tactics where the complainant wrote a letter to the Finance Minister demanding answers . Until today, I haven’t heard of this matter. Now ABSA is in loggerheads with the Government . The Goverment wants ABSA to payback now.What about this family’s money. Unless I missed an article on this matter. Maybe the family is paid. Anyone to help me.
    Michael is right.The family representative might be forced to fall into heartache. We echoed ‘”Government payback the Surtees money'” while you demand your money from ABSA.

    1. Hi Joseph

      Im not sure to which story you’re referring on the trillions. The forensic investigator, Jeff Koorbanally has not according articles published on UnCensored, gone to US or UK for purposes of investigating the money – which is a Surtie inheritance.

      The money was allegedly given to ABSA by the SARB as part of the much looting that was going on during apartheid. My understanding is that Koornbanally expects the money to come from ABSA.



  3. WHAT PK ? A HEART ATTACK …. no way ! Sorry. Get well SOON dear PK. You are in our Prayers too.

    You do not realise the major THRILL that your heart attack gives to Mr. “JR” Rupert; Mr. “GT” Ferreira; Mr. “LL” Dippenaar; Mr. “PK” Harris (no relation); Mr. “Viv” Bartlett and the other “friends” of “JR” Rupert – who are ALL Members of the “Rupert Afrikaner Mafia Gang’ – who are Directors and Shareholders of this Public bank known as FirstRand Limited/FirstRand bank Limited/First National bank FNb. They are ALL Rand Billionaires, these ‘fine gentlemen and ladies’- they are “friends” of the KING-PIN “Mafia Boss” Multi Rand Billionaire Mr. “JR” Rupert.

    Like when they liquidated my Company and Sequestrated me Illegally and based on Fraud and THEFT after I had banked with Barclays for 44 years and Rupert and his “Afrikaner Nationalist Mafia Gang” took control. I also had a heart attack PK.

    Like when Emerald ‘went after them’ for the ‘poor’ so-called ‘black’ ‘Coloured’ and Indian CLIENTS of this bank and he ended up in the ICU Hospital POISONED; then they Sequestrated Emerald. They ignored their Public Offer to refund Emerald for all the analyzing of bonds that he did. When he presented his a/c they rather Sequestrated him – trying DESPERATELY to get him to STOP acting for the ‘poor’ against them. They can’t wait for Emerald to have his heart attack and (hopefully to them) die before March 2017. Why do you think they delay and delay and delay PK ? Emerald is also in our Prayers PK.

    It is who they are. How many ‘poor’ so-called ‘black’ ‘Coloured’ and Indian CLIENTS have had a heart attack after being CROOKED CHEATED THIEVED from by “these people” PK ? How many ? It is PLENTY. To lose your home is a ‘heart-attack-experience’ AND THEY KNOW IT. THEY DO NOT CARE. In fact I believe – because of their racist HATE for the so-called ‘black’ People – they are ‘pleased with themselves.’ AND THEY LIKE THE MONEY – TOO MUCH hey ! They want to be Rand BILLIONAIRES – and they are ! Still they want more …. it is who they are PK. Evil people.

    Old man “Anton” Rupert (deceased; Major ‘Broederbonder’) and then his son “JR” Rupert were/are ‘in the killing business’ PK. Their cigarettes and their alcohol have killed how many People PK ? PLENTY. And the suffering they have caused to the People of South Africa (mainly) – it is MILLIONS of People – mostly ‘poor’ People that they have EXPLOITED. They have ‘Capitalized on’ their weaknesses and their additions. Not so PK. THEY DO NOT CARE PK.

    Then “JR” started Clinics/Hospitals to treat all the People he has POISONED with his Nicotine and his Alcohol. Right. FOR THE MONEY – he and his “friends” have made Rand BILLIONS from these Hospitals. It is Certainly not for Ubuntu PK.

    Add to this the Rand BILLIONS made from Insurance – for the SICK POISONED People to pay their Hospital Bills to “JR” and his “friends” hey PK.

    I can go on …. but I do not want to look like a person who has a ‘personal grudge’ or even a ‘vendetta’. (lol) No; I do not have a ‘vendetta’. I run an anti-crime and rehabilitation campaign – ref is at http://www.fc-oc2007.co.za – and “these people” need HELP to be REHABILITATED PK. They need to be Prosecuted; found Guilty; made to PAY BACK THE MONEY and finally …. GO TO JAIL – where they belong. Simple. Right PK.

    So get well SOON dear PK. Box on dear. So will Emerald; so will I; so will many many other People who seriously want to see Justice being done to “these people” PK. It is time. March 2017. Right.

    The Spiritual Programme that I started in 2000 when “these people” put me in Awaiting Trial Prison * based on LIES and Fraud and THEFT is ready and waiting to be introduced – for Rehabilitation purposes – to “Gang Members” “JR” “GT” “LL” “PK” “Viv” and “JR’s” other “friends” AND ESPECIALLY THEIR AUDITORS DTT (“THEO” Theodore Willhelm van den Heever) PWCI “Tom” Winterboer) when they are in JAIL – where they belong PK.

    PK, do you think we should also get the lawyers “Robert” Driman and “Andre” de Lange in to JAIL as well ? Please ask your Supporters and your Benefactors and your Donors what they think ? I believe that we should. But them who am I PK – mr. nobody hey; a joke to “these people”.

    Get well SOON dear – we, the Public, the People, need you PK – to EXPOSE these CROOKS CHEATS THIEVES (CCT).

    Lord Bless, love Michael (heart).

    * I was found not guilty and acquitted PK, after spending 9 months in an Awaiting Trial Prison (‘Sun City’) based on the LIES and the Fraud and the THEFT against me and my family and the trust that I personally formed in 1971 and which I still run TODAY – by “these people”. ref is at http://www.meharris.co.za and http://www.fc-oc2007.co.za. Praise the GOOD Lord JESUS.

    1. Dear Michael
      I had excruciating spurts of pain in my heart. I had rest but am much better. Pain in the heart is caused by a paining heart and I have quite a bit to deal with. But we soldier on.

      Yes, Johann Rupert and his lot deserve prison but will we see it happen in our lifetime…I have very little hope. They literally own the state.

      I didnt realise they own hospitals also. What a cruel man – poison and cure – but not before taking out medical aid and insurance.

      He’s got us in a cycle!!

      Anyway, we keep moving Michael…



  4. Dear PK,

    You have set it out so clearly. How can “these people” ever get past these Arithmetic Facts and the Law – in March 2017 in the Equality Court in Cape Town ? They can’t.

    Is it not the time to set up a Meeting with these ” .. 326 clients from Kwa Mhlanga ..”. Can Mr. Mokomane arrange for you PK, and Emerald, to address these ‘poor’ People at a Meeting – all 326 of them ? R93,371.77 in 2010 – so much more TODAY – is a LOT of money for a so-called ‘poor’ man who would have lost his home (BUT for Mr. Emerald van Zyl), let alone be about to be refunded such a large amount of money in just a couple of months – i. e. SOON after March 2017 he will receive well over R 150,000-00 …. to Mr. Mokomane alone !!!! WHAT ABOUT THE OTHER 325 ‘poor’ so-called ‘black’ ‘Coloured’ and Indian People from Kwa Mhlanga PK who have also been CROOKED CHEATED THIEVED from by “Rupert and his Afrikaner Mafia Gang’s bank” FirstRand Limited/FirstRand bank Limited/First National bank FNb. ? I am sure they will be SO EXCITED to hear the Good News; that their money is at last coming – SOON after March 2017.

    WHAT ABOUT THE OTHER THOUSANDS PK; IN OTHER so-called ‘TOWNSHIPS’ all over South Africa. WHAT ABOUT THEM PK ? Do they yet know that they will be refunded SOON after March 2017 !!!!

    If you and Emerald need to ‘sleep over’ on your way to the Meeting in Kwa Mhlanga please let me know. OK PK. I do not own 5 Star Hotels like that other CROOK CHEAT THIEF Harris i. e. Rand Billionaire “PK” Harris, but I can offer you a ‘roof over your heads’ for a night or two. (lol) (BIG Smiley face).

    Great article PK. GREAT. Well done PK. Well done Emerald.

    Lord Bless, love Michael (heart).

  5. FNB must do the right thing and pay back the money. Also I believe that there are more unreported cases of corruption, fraud & robbery committed by banks (FNB, ABSA, Standard, etc.).

    Some cases are undetectable, e.g. “bank charges”, etc. Just imagine a scenario where banks charges roughly 20 million people R100 each per month/per transaction (20 mil x 100)= R2000000000 (R2billion). This must stop!!!! Banks are the main creators of poverty among Black people…

    1. Dear K.M.
      You say Banks must stop. We must stop them. What really saddens me is that South Africans think our lives are dependent on banks.
      Those of us who lived in neighbouring countries know that you can build a house to the value of what you have, you can buy clothes & furniture to the value of what you have.

      Most Africans live that normal life but we dont in this country. Our Finance Ministers tell us we must behave so that we can be eligible for borrowing, for debt. We must always appease the West so they can give us loans. What kind of living is this?

      Mentally, materially captured.

      Kindest and much love

      1. Hi PK
        There is a wise quote: “Truth is bitter in the beginning, sweet in the end, and lies are sweet in the beginning, bitter in the end.” – Gautama Buddha

        Therefore you are quite & definitely correct, the rot cannot stop by itself but by rising up against it and we not only stop it but the criminals (White monopoly) be held accountable & criminally charged, and convicted.

        Although this process is painstaking & slow (i.e. delay tactics by Rupert Inc.), I strongly believe that as nation we must rise up and together say: “ENOUGH IS ENOUGH!!!!”

        We must unite and act in solidarity and emulate Palestinians and fight till we win…

        Thank you PK for sharing your wisdom with us, I must say you have opened our eyes, please do not ever give up, we need you!!!
        #CowardiceMustFall #101JudasIscariotsMustFall #RupertInc.MustFall


        1. Thank you very much KM. I treasure your input and support as always.

          We will win….Aluta



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