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Mail & Guardian
30-07-2025
- Politics
- Mail & Guardian
Chagos Archipelago residents deserve reparations, not regrets
The Chagossian people remain forcibly and criminally displaced from their homeland. Photo: Andrew Winning/Reuters The agreement between the United Kingdom and Mauritius over the Chagos Archipelago, has been described by its prime minister as a 'victory for international law, for postcolonial justice and above all, for the Chagossian people'. But is it? Implementing international law in situations of colonial atrocities means more than resolution of territorial disputes; it means delivering justice and reparations to affected peoples. The Chagossian people remain forcibly and criminally displaced from their homeland. All governments, including South Africa, need to ensure that the UK, United States and Mauritius address that legacy and respect their rights and voices. The UK and US forcibly displaced the entire Chagossian people, more than 50 years ago, to build a US military base on Diego Garcia island, which remained a UK colony. This exile, based on UK and US officials' documented racism and lies denying the existence of the Chagossians, is a colonial crime against humanity that will continue as long as they are prevented from returning home. The new treaty, which recognises Mauritius's sovereignty over the islands, looks unlikely to end this crime. Some Chagossians have welcomed the treaty, seeing it as a key step in their decades-long struggle to return to their homeland. Its preamble refers to 'wrongs of the past' and both governments pledge to support 'the welfare of all Chagossians'. The text of the treaty suggests that Chagossians could return to all islands in the archipelago, except for Diego Garcia, the largest island and many people's homeland. But the details of the treaty guarantee little for the Chagossian people, including their right to return. This agreement risks not repairing the harm but perpetuating it. The International Court of Justice (ICJ), in its landmark 2019 advisory opinion, held that the UK's continued administration of the Chagos Archipelago was unlawful. Crucially, the ICJ recognised the forced removal of the Chagossians as a major injustice. This treaty is supposed to implement this opinion. Yet the Chagossians' rights barely feature in the treaty. There is no recognition of them as the Indigenous people of the islands, no reference to the right of return and no guarantee of their participation in future governance or management of finances. Resettlement is limited to the outer islands, excluding Diego Garcia. The treaty addresses sovereignty, territory and military interests but says very little about human rights and accountability. This is reflected in the lack of financial compensation for the Chagossians. The UK has pledged annual payments to Mauritius for the continued operation of the base and 'development projects'. These figures would total at least £10 billion [R234 billion] across the 99-year lifetime of the deal. In contrast, the treaty says that Chagossians will receive a one-off payment of £40 million — the same amount offered by the UK a decade ago, when it ruled out any right of return. There's no explanation, consultation or guarantee that the funds will support resettlement. To put it starkly: £40 million is less than 0.5% of the total financial arrangement. It is not reparations. It is a footnote. The right to return to one's homeland is a basic principle of international law. But the treaty deliberately excludes Diego Garcia from resettlement — effectively entrenching the crime of forced displacement. The treaty also appears to give the UK a veto over development anywhere in the islands, which could block any effort to rebuild communities. The UK and Mauritius should, at a minimum, make a clear and public declaration recognising the Chagossians' right of return and guaranteeing their involvement in rebuilding their homeland. The US and UK should prioritise their employment at the Diego Garcia base and support their return through infrastructure and economic investment. Despite vague references to implementing the treaty 'in accordance with international law', there is no express acknowledgment that binding human rights treaties or the Rome Statute of the International Criminal Court will apply in Chagos. This is particularly troubling, as Diego Garcia has long been a legal black hole — shielded from scrutiny over abuses such as torture. This treaty is not the end of the story. It is a test — not only of the UK's willingness to reckon with its colonial legacy but of the international community's commitment to justice and reparations for colonial crimes. The ICJ said the resettlement of the Chagossian people was the responsibility of the UN General Assembly. South Africa, the Caribbean nations, and other leaders of the global anti-colonial struggle, should take a stand there. They need to ensure that this implementation of the ICJ ruling on decolonisation also ensures the right of return of Chagossians to their homeland and reparations for the harm the UK and US have inflicted on them. Symbolic regret on its own is not justice. It is time for action — and for the Chagossians to return home. Clive Baldwin is a senior legal adviser, and Allan Ngari is the African advocacy director, at Human Rights Watch.
IOL News
24-06-2025
- Business
- IOL News
Financial Ombud gets bank to write off R233 000 home loan arrears after it sold home for R10 000
The National Financial Ombud Scheme South Africa intervened in a complaint after a bank sold a home for R10,000, leading to the cancellation of R233,000 in arrears. Image: File picture. The National Financial Ombud Scheme South Africa (NFO) has emphasised the need for fairness from financial institutions after intervening in a case where a bank sold a home for just R10,000 due to a client's home loan arrears. The intervention of the NFO led to the bank writing off the client's home loan arrears of more than R233,000. The details of the matter are contained in the NFO's recently released 2024 annual report. Between 1 March 2024 and 31 December 2024, the NFO handled 35,855 complaints that was dealt with by its four divisions - Non-life and Life Insurance, Banking and Credit. According to the report, in a complaint handled by the Ombud's banking division, a complainant held a Home Loan account with a bank and the account was in arrears. The report explained that the bank exercised its rights in terms of the home loan agreement and proceeded with legal action to recover the full outstanding balance owing on the account. "Judgment was granted and the property was declared executable. There was no reserve price set by the court for the sale of the property. The bank proceeded to sell the property on auction for R10,000 and the complainant remained liable for a shortfall of R233,241.90 after the proceeds of the sale had been credited to the account." Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ When the NFO investigated the complaint, it was found that the property had been valued at R590,000. The outstanding balance on the home loan account at the time of the sale was R234,541.06. In addition, outstanding rates and taxes on the property amounted to R335,575.12 at the time of the sale. However, the NFO said it was of the view that despite these costs, there was still sufficient value in the property, and that a higher selling price could have been achieved by the bank to ensure that the full outstanding balance on the account was settled. The report said: "Whilst the NFO remained cognisant that the court did not set a reserve price and therefore the bank was not in contravention of any court order, the office exercised our equity jurisdiction and remained firm in its view that it could never be considered fair nor reasonable of a bank to sell someone's home for R10,000 when it has a market value of R590,000.00." The NFO therefore recommended that the bank write off the full shortfall amount. "The bank accepted the recommendation, and the full shortfall of R233,241.90 was written off," the report said. THE MERCURY
IOL News
12-05-2025
- Business
- IOL News
Balwin Properties reports significant uptick in apartment sales as interest rates decline
Balwin Properties' De-Aanzicht Milnerton, Cape Town. The group delivered a strong rebound in sales and financial performance in the second half of its financial year to February 28, 2025. Image: supplied Balwin Properties, a prominent developer known for its environmentally efficient and affordable apartment estates, has announced a remarkable rebound in property sales during the latter half of its financial year. Following the commencement of a new interest rate cutting cycle, which has seen rates reduced by a total of 75 basis points since September 2024, the company reported substantial improvements in trading conditions. In the six-month period leading up to February 28, the company recognised revenue from the sale of 1 109 apartments, a significant increase of 73% compared to just 640 units sold in the first half. Additionally, pre-sales surged, with 814 apartments being contracted for future financial periods, up from 520 the previous year. Group CEO Steve Brookes attributed this increase to heightened buyer interest driven by the easing of interest rates. 'The year under review was a tale of two halves, with a strong recovery in profitability in the second six months of the year, supported by ongoing cost-saving initiatives and a strong performance from the Balwin Annuity,' Brookes commented. Despite this positive trajectory, while the interest rate relief was a welcome development, it fell short of expectations, and further interest rate cuts were anticipated for the new financial year. The company's monthly average gross sales rate surged by about 30% since the start of the interest rate cuts, positioning Balwin to expedite construction activities as market conditions improve. Even amidst a challenging economic landscape, Balwin reported an 8% increase in taxed profit to R234 million, with group revenue standing at R2.2 billion—a 6% decline from the previous year, reflecting ongoing pressures in the residential property market. The anticipation surrounding the Government of National Unity formed in June 2024 was overshadowed by political uncertainty, amplified by global economic volatility. Nevertheless, earnings per share experienced a modest increase, rising to 49.74 cents, while headline earnings per share slipped 4% to 45.95 cents. To adapt to the challenging market conditions, Balwin implemented measures to align construction rates with sales, which included better cost engineering, ongoing marketing, and incentives, as well as strict control over operating costs, which remained steady at R351m. The company's gross margin did improve to 30% from 28%, buoyed by contributions from its annuity businesses. Focusing on regional performance, Gauteng emerged as the largest contributor to revenue with 856 apartments recognised, while the Western Cape demonstrated strong demand, with 801 apartments contributing to the sales figures—an impressive 99% of market offerings in the area were recognised in revenue. Despite a subdued performance in KwaZulu-Natal due to planning delays, management expressed optimism for future improvement as progress is made on these challenges. Balwin's directors expect further interest rate cuts will likely stimulate a gradual recovery in the residential property sector. The company is committed to maintaining operational and development cost containment strategies to bolster profit margins and maximise returns on invested capital. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ With a robust pipeline of about 36 000 apartments slated for development over the next 12 years across major metropolitan nodes, Balwin'sdirector said the group is poised to emerge more efficient and focused, optimising operational processes for improved profitability.
