Standard Bank Allegedly Set To Repossess TK Nciza’s Luxury Mercedes Benz

It appears to be one month one trouble for the Nciza brothers TK and Xolani. Just last month (September) Xolani was suspended in Ekurhuleni for allegedly “fake” qualifications, his brother Thembinkosi “TK” Nciza is said to be having troubles with Standard Bank, which is about to repossess his luxury car.

A report by Sunday World indicated that Standard Bank had financed the politician’s purchase of a 2015 Mercedes-Benz S400L By agreement, he would pay a total of R1.9  million in instalments of R23k monthly over the course of 72 months.

Allegedly, he is currently owing the bank the sum of R133k. As a result, the name has been trying to repossess the car to recover its money from the ANC chieftain. The news of the repossession drama with the bank has provoked a debate online, with some tweeps joking that ordinary people are not the only ones feeling the pinch of the economy.

With the latest news, the politician joins the infamous league of notable personalities whose cars banks have tried to repossess over unpaid debts. It is unclear how he would resolve the case with the bank. But Mzansi is certainly watching to see how things pan out. We will be here to share more details with you

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