'I've never heard of a bank that recognises a PTO as collateral'

Secretary General of the Congress of Traditional Leaders of South Africa, Nkosi Xolile Ndevu, says he has never heard of a bank that recognises the PTO (Permission To Occupy) as collateral.

President Jacob Zuma told Parliament that he used the PTO to acquire the bond to build his homestead in Nkandla.

Zuma was answering a question from the Democratic Alliance MP, James Selfe, asking which collateral did the president use in order to raise the bond in a tribal land.

Xolani Gwala spoke to Nkosi Ndevu, to find out how a PTO works.

PTO is a system of land holding for communal people. It's a document you're given when you're a member of that particular community allocated a piece of land.

Nkosi Xolile Ndevu, Secretary General of the Congress of Traditional Leaders of South Africa

It doesn't given you a full title holder in the land. It says you are given this piece of land to occupy it, if you are no longer using it, you must bring it back to the community again.

Nkosi Xolile Ndevu, Secretary General of the Congress of Traditional Leaders of South Africa

Unfortunately, it's not a piece of paper recognised by banks. It's a document that you cannot take to the bank for the bank to give you a loan, because it doesn't guarantee you ownership of the land.

Nkosi Xolile Ndevu, Secretary General of the Congress of Traditional Leaders of South Africa

I have never heard of a bank that has recognised a PTO as a collateral.

Nkosi Xolile Ndevu, Secretary General of the Congress of Traditional Leaders of South Africa

Listen to the full interview below...

Read More
Medical students leaving SA to study in China

Medical students leaving SA to study in China

Dr Irshaad Saley, CEO of Student Alliance and Medical Practitioner, explains how the organisation helps students apply and study medicine in China.

Consumer Commission may probe Ford's conduct after Kuga recalled

Consumer Commission may probe Ford's conduct after Kuga recalled

The Consumer Commission says drivers should continue to lodge their complaints as Ford is still liable for any losses due to fire.

SA 'sluggish response' to Iraqi intel on terror bomber - ambassador

SA 'sluggish response' to Iraqi intel on terror bomber - ambassador

Iraqi ambassador Saad Kindeel says SA government dragging its heels to sign memorandum of understanding with Iraq for information.

Search for missing SA photojournalist continues in Syria

Search for missing SA photojournalist continues in Syria

South African photojournalist Shiraaz Mohamed has been missing for six days in war-torn Syria after being taken by armed men.

Oxfam: world leaders need to tackle wealth disparity through policy changes

Oxfam: world leaders need to tackle wealth disparity through policy changes

The gap between the rich and poor appears to be far greater than feared, reveal Oxfam findings.

School torched near Vuwani

School torched near Vuwani

A school in Tshitale just outside Vuwani set ablaze, public violence charges against 48 of 54 protestors struck off the roll.

Popular articles
Naked Scientist explains why mosquitoes 'discriminate' who they bite

Naked Scientist explains why mosquitoes 'discriminate' who they bite

Dr Chris Smith explains why some people are more desirable than others to mosquitoes.

Absa may have to pay R2.25 billion for unlawful apartheid era bank bailout

Absa may have to pay R2.25 billion for unlawful apartheid era bank bailout

M&G's Pauli Van Wyk speaks about Public Protector's preliminary report implicating Absa, Reserve Bank, Treasury and Presidency.

Arresting 106 dodgy licensing officials just the beginning - Mashaba

Arresting 106 dodgy licensing officials just the beginning - Mashaba

Over 100 corrupt Joburg licensing officials will be arrested, explains Herman Mashaba who says it's just the tip of the iceberg.

Social grant beneficiaries to automatically qualify for NFSAS funding

Social grant beneficiaries to automatically qualify for NFSAS funding

Social Development announced that 80% of social grant beneficiaries who wrote matric exams obtained a diploma or bachelor pass.

House prices slump in some parts of the country

House prices slump in some parts of the country

Property economist at FNB, John Loos, says the drop in house prices is due to slow pace in economic growth.

Vaal Dam levels increase by 5.2%

Vaal Dam levels increase by 5.2%

Department of Water and Sanitation says recent rains have increased the Vaal Dam levels but more is still needed.

Dlamini-Zuma part of ANC's lacklustre old furniture -  political analyst

Dlamini-Zuma part of ANC's lacklustre old furniture - political analyst

Political analyst Prince Mashele says Nkosazana Dlamini-Zuma doesn't qualify for presidency and has nothing to offer to citizens.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Singer Patricia Lewis speaks of music career, and being a mother

Singer Patricia Lewis speaks of music career, and being a mother

South Africa's top-selling female recording artist in history, Patricia Lewis, tells Xolani Gwala about what she is up to now.