ANC Youth League leader scores R5.4 million bond from Bank of India
ANC Youth League president Collen Maine was granted a bond from the Bank of India to purchase a R5.4 million home in Woodhill Estate, one month after his election victory, the Sunday Times reported.
Maine has defended the Gupta family and their relationship with president Jacob Zuma.
The paper reported that deeds office records showed that Maine was granted a R5.4 million bond, despite the fact that the Bank of India does not offer home loans, dealing only with corporate clients.
“I approached a bank, a bank gave me a loan,” Maine told the Sunday Times. “Banks don’t work on influence, they are not politically linked.
Maine reportedly earns a monthly salary of less than R30,000. He told the paper that he could afford the repayments for a R5.4 million home because of his private businesses.
In his declaration of interests in 2014, Maine said he was a director of a number of firms, including Mokone Mokgoloko. The Sunday Times said that all of those firms except Mokone Mokgoloko projects are being de-registered.
The full report is available in the Sunday Times of 27 March 2016.
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