Gabadinho Mhango Faces Losing Joburg Home Over R1.2 Million Bond Debt With NedBank

Malawi international and Marumo Gallants striker Gabadinho Mhango is at risk of losing his property in Johannesburg after allegedly failing to service his mortgage bond, according to a report by Sunday World.

The publication reveals that Nedbank Limited has obtained a summons from the Johannesburg High Court, demanding that Mhango settle an outstanding amount of R1,228,436.74, or face eviction and the forced sale of his home. The summons outlines that the bank seeks interest on the overdue amount at a rate of 12.60% per annum, capitalised monthly from 1 June 2024 until full payment is made.

The bank has also requested the court to declare the footballer’s Joburg North property executable and has set a reserve price of R650,000 for its first sale at public auction. This would enable the registrar to issue a writ of attachment for the immovable property, effectively allowing Nedbank to repossess and sell the home.

Mhango, 31, has been served with the legal papers and given ten days to respond with an intention to oppose the application. However, Sunday World reports that although Mhango filed some initial documents earlier this year, he has not filed a formal notice of opposition or an answering affidavit, placing the matter on the unopposed roll  potentially clearing the way for the bank to proceed without resistance.

Despite the looming threat of repossession, Mhango is reportedly aware of the situation and plans to counter it using funds he claims are owed to him by Marumo Gallants. The striker is demanding R800,000 plus interest for alleged unauthorised use of his image rights by the club. He claims the team exploited his image to market and promote fixtures on social media without compensating him.

According to the report, his legal representatives issued letters of demand in January, seeking two separate payments  R428,000 and R400,000  related to the image rights dispute. However, the club has refused to pay, intensifying Mhango’s financial woes.

As of now, Mhango’s legal team is expected to take further steps regarding both the bank’s court action and the image rights claim. The player has yet to make an official public statement.

Sunday Worldnews