ONE of Mzansi’s biggest NGOs that prides itself in having built more than 300 houses for the poor since its inception in 2008, could itself be homeless.
This after the Investec Property Fund took the Collen Mashawana Foundation to court in May. The fund accused the foundation of failing to pay for the plush Sandton offices they were renting from them since February 2023.
According to court documents filed in the Joburg High Court and seen by Daily Sun, the landlord and the foundation signed a lease agreement in December 2022 in which the foundation was to pay a monthly rental fee of just under R160 000. This amount included office space, six basement parking bays in the building, two open parking bays, as well as taxes and municipal services charges.
Both Investec and the founder of the NGO, millionaire businessman Collen Mashawana, told Daily Sun the legal battle was resolved amicably but didn’t give full details or furnish documents.
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Reaan Swanepoel of Reaan Swanepoel Inc, representing Investec, said: “It is our instructions to confirm that the matter has been resolved amicably.”
Collen claimed Investec withdrew the legal action but didn’t provide any evidence. “I was happy to here (sic) from you thinking you would like to write about the amazing work that the foundation has been doing across the country and how we have restored the dignity of many Africans,” he said in a written response.
However, according to the 105-page legal document, it shows that the property owner’s lawyers wrote a letter of demand to Mashawana and the foundation demanding that he pay a debt of more R157 000 that he owed to the landlord.
“Your lease agreement is cancelled, effective herewith,” reads part of the court papers. “You are required, by no later than month end May 2023, to vacate the commercial leased premises and to restore possession thereof to the landlord, duly reinstated to base building conditions as set out in clause 24 of the lease agreement.”
As a result of the cancellation of the agreement, which was supposed to run until 31 January 2026, Investec demanded that Mashawana and the foundation pay a total of R627 482,73 as a termination fee.
