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BCM to write off Hemingways Mall company s R65m debt

The Buffalo City Metro council is set to write off R65m in debt owed by the city’s biggest shopping mall. Rebosis Property Fund Ltd, which owns Hemingways Mall, approached the city asking for the write-off. The company, owned by Mthatha-born millionaire Sisa Ngebulane, is in business rescue. The mall owes the city more than R80m in rates and taxes and has gone to the municipality hat in hand for relief.

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