Grace Mugabe’s son Russel Goreraza’s R1.2 million Range Rover has been repossessed by Wesbank after he allegedly refused to surrender it for at least nine months.
The luxury vehicle was repossessed by repo men at his Sandhurst house in Sandton on Thursday last week when he was on a business trip to his home country of Zimbabwe.
The repo men are now looking for a VW vehicle which he is also refusing to surrender despite struggling to keep up with his monthly instalments. The shocking news, which suggests that the Mugabes are in a financial crisis, was revealed by a bank employee who did not want to be named because he is not allowed to speak to the media.
The employee said Goreraza, who is the first born of Grace Mugabe, bought the road monster for R1.2-million through Wesbank vehicle finance in 2018.
He was expected to pay over R41 500 a month for five years.
The controversial businessman, who hogged media headlines in 2017 with allegations that he impregnated South African student Dineo Kekana and later asked her to abort, defaulted on his instalments from June last year.
He was over R389 000 in arrears when the car was repossessed at his posh pad, situated in Gauteng’s most expensive surburb.
“Russel stopped paying his instalment in June last year. The bank’s call centre agents contacted him and asked him to settle the arrears or surrender the car in August last year after defaulting for three months, but he refused.
“He initially said he was experiencing liquidity problems because the Bank of China had frozen his bank account and promised to settle the arrears when the account is unfrozen,” said the employee.
The employee also said Goreraza eventually came clean and confessed that he was in a deep financial quagmire and surrendered the car.
“He told us that his mine and farm workers in Zimbabwe were on strike and this has resulted in a loss of income for him and his family. He then told my colleagues who repossess cars that although he was in Zimbabwe, he was giving them permission to go and take the car from his house.
“When they arrived there, they found a guy called Glen, whom they asked to hand the car keys to them, but he told them that he didn’t know where they were,” said the bank employee. The employee said his colleagues organised a tow truck which towed the vehicle to the bank storage in Langlaagte, south of Joburg – without the keys.
The bank employee also said the repo men are now hunting for a VW that he also purchased through Wesbank as Goreraza was again behind with his instalments.
According to the documents in our possession, Goreraza was granted a loan by Wesbank to purchase a 2018 Volkswagen Arteon 2.0 TSI R-line.
He was expected to pay over R9 681 a month until October 1 2022. But the businessman stopped making payments on February 1 last year and is currently R111 967 in arrears.