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ABSA and the
Lamborghinis Tell us how your Client did it ? - FICA !
- NCR!
Open Letter to the CEO, Absa Bank.
We refer to the article written on the 2nd May 2009
by Candice Bailey concerning Mandle Mthembu who has
skipped two payments on one of his two R4million
Lamborghinis!
Reading this article, it would be interesting if
ABSA could inform us (the South African public in
general and the engineering profession in
particular) how Mandle Mthembu was able to get
around the stringent criteria set by the NCR (to
which we are all supposed to adhere) and was able to
persuade ABSA to
finance two R4 million
Lamborghinis, considering his apparent 'shocking
history' of maintenance debt, dishonouring debit
orders etc.
We also see that it is public knowledge that he is
in violation of FICA, having moved out of his rented
penthouse and changed all his contact details.
I have recently written a series of articles
concerning the financial stranglehold that the Banks
have caused South African businessmen and engineers.
Professional engineers (who are creators of wealth)
are battling to get project finance, practice and
vehicle finance on simple things like R180,000 for a
bakkie which is required in the pursuit of their
profession.
A few months ago ABSA refused to finance second hand
trucks, just about causing the collapse of the
second hand and new truck market.
We have all figured out ways to get around the
nonsensical requirement of Banks to produce 3 months
salary slips, Bank statements etc., but Mandle
Mthembu's financial affairs with ABSA are such that
the mind boggles as to how he did it.
Could ABSA share his 'success' with the general
public?
Yours
Sincerely,
M.D.Hosking
______________________________________________
Ing.P.Eur. Michael D. Hosking B.Ing
Chief Executive Officer
International Society for Professional Engineers
Web :
www.professionalengineers.co.za
Web :
www.engineeringplacements.net
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