KATOTA - A BETTER LIFE FOR ALL !


    The plans of the controversial Katota Company, which undertook to buy more than 100 South African property developments worth billions, were based on guarantees that now appear to have been falsified.

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    The plans of the controversial Katota Company, which undertook to buy more than 100 South African property developments worth billions, were based on guarantees that now appear to have been falsified.

    Post  Admin on Thu May 17, 2012 1:03 am

    The Katota Development program is the most comprehensive privately initiated development program; there is no controversy about the program. Katota is simply any company owned by its investors and the community the company serves. Many of such companies are consolidated along industry lines to deliver on a declared collective development program. Katota Program in RSA was involved in the 2010 Housing program involving over 300 development companies that failed due to false allegations made against the directors of the entity that held the exclusive right to procure loan funds for that declared program. The exclusive loan provision agreement also stretched to other phases of Katota Programs. It is unfortunate that the directors of the company holding the exclusive loan provision right were detained on false allegations in Mauritius. The Katota companies that suffered losses have demanded that they be restored to the position they would have been if the unfortunate allegation about the Directors of the company that held the loan funds provision right did not occur, No falsified bank guarantees are used by any Katota Company. As stated, at this stage the Katota program does not own a bank. Guarantees are issued from a bank to a bank. No katota company has falsified bank guarantees.

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