Former Kaizer Chiefs and Bafana Bafana midfield maestro Reneilwe “Yeye” Letsholonyane is facing a financial crisis that could see him lose his R1 million Fourways mansion.
Standard Bank, the lender holding the mortgage bond on the property, has filed an application at the Johannesburg High Court seeking a court order to sell the house to recover unpaid debt.
The bank alleges that Letsholonyane is in arrears of R72 000 and has missed payments for seven months, leaving a total outstanding debt of R455 472. The situation is further complicated by outstanding municipal levies amounting to R731 580.
In an affidavit deposed by the bank’s manager for home services collections, the bank states that it has exhausted all other options, including repeated phone calls and letters of demand, to resolve the situation. Letsholonyane’s failure to respond has left the bank with no choice but to seek legal action.
"A warrant for attachment and ultimate sale in execution will not be possible without the court granting an order authorising the execution against the property. The nature of the debt is monies lent and advanced, secured by a mortgage bond registered over the immovable property of Reneilwe Letsholonyane. The amount of his indebtedness is contained in the relevant mortgage loan agreement," the court papers read.
The bank highlights that Letsholonyane was obligated to pay monthly instalments of R72 197, as stipulated in the loan agreement signed in 2023. Despite making erratic payments, the account remains in arrears.
"The bank has placed at least 25 telephone calls to him to try and discuss bringing the arrears under the loan agreement up to date. The bank has further made an interim payment proposal to clear the arrears, but he failed to make the payment proposed. Despite erratic payments made, the account remains in arrears," the court papers state.
The bank argues that the substantial amounts owed by Letsholonyane, coupled with the apparent vacancy of the property, have prompted them to take legal action.
"It appears as though the property is vacant and not occupied anymore. Having regard to the market value of the property, the local authority valuation and the amount owed by him has prompted the bank to take legal action," the court papers read.
This financial crisis comes amidst a turbulent period in Letsholonyane’s personal life. His ex-wife, radio presenter Mpho Maboi, has spoken publicly about the difficulties they faced in their marriage, ultimately leading to their divorce.
"We got divorced and had been quiet about it. People assumed there has to be a third party involved, or it has to be about money," Maboi said.
Maboi revealed that she had grown unhappy in their marriage and could not envision spending the rest of their lives together feeling that way.
"The worst thing that could have happened to my marriage was marriage itself. I firmly believe had we never got married we would probably still be together. Marriage changes everything. It changes how people view you. It changes how your family views you. It just changes everything.
"I remember feeling very sad and feeling as though this was not what I wanted. This is not going how I wanted it to go. I love to be happy and I found myself constantly saying to him 'I'm not happy'. We did try. Family meetings and all of that but it was not working," she said.
Letsholonyane has denied that he has not been communicating with the bank, claiming that he has been trying to sell the property privately and has informed the bank of his intentions.
"I am trying to sell the property privately, so it's not true that I have not been communicating with them. I have been telling them throughout the process," he said.
