Former SAA CEO Khaya Ngqula and his family trust ,worth millions, are on the brink of losing one of its properties in the leafy suburb of Sandton, Johannesburg. 

This comes after Ngqula, once a powerful and connected executive, used a property owned by Jani Family Trust as collateral on a transactional business account application for his daughter's production's company ,Pixel Perfect Production, with Nedbank. 
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According to reports in 2004, Jani Family Trust held more than R21 million worth of shares and assets including in companies such MTN, Dimensions Data Holdings, Gold Reed Casino Resorts, Sun International, Boardwalk Casino and Worldwide African investments holdings

Zimoja can reveal that Nedbank has issued summons at the South Gauteng High Court last month against Ngqula, his daughter Khayakazi and her company demanding that they settle the debt amounting to R848 000 owed to the bank. 

In the court papers filed in July 2022, the bank said Ngqula and his daughter ,Khayakazi Ngqula, had entered into an agreement in their capacities as Trustees of the Jani Family Trust on March 2014 giving Pixel Perfect Production access to funds not exceeding R2 million. 

The production company has in its short stint made a mark in the TV and film industry and has produced shows like IThemba and 15 short films for Mzansi Magic. 

The agreement, according to court papers seen by Zimoja, shows that Ngqula signed as surety and used an apartment located in Morningside, Sandton owned by his family trust as collateral in case his daughter's company failed to repay the money it had utilised. 

The court papers show that immediately after the agreement was signed on March 18 2014, the bank bonded the house, which was then worth R2.5 million. 

However, Nedbank has now approached the  Johannesburg High Court stating that Ngqula and his daughters company were now in breach of the agreement they had signed to obtain the transactional business account.

The bank said the company has since signing the agreement, failed to pay all monthly instalments on the due date, leaving the account in arrears of R848 676.22. 

This, the bank said, effectively meant that both Ngqula and his daughter Khayakazi in their capacities as trustees of the Jani Family Trust were now indebted to the bank. 

However, it pointed out that despite the parties knowledge of the debt and arrears, they have not made any attempts to make arrangements to settle the debt. 

"Despite demand, the defendants have failed and or refused and or neglected to affect payments to the plaintiff of the amounts currently, owing and payable," reads part of the summons. 

In the same court papers, the bank said it was also ready to consider the case to be taken for mediation indicating that it wanted the matter resolved as quickly as possible. 

The bank further said that failure to have the matter resolved through mediation, it would be left with no choice but to execute or attach the property which was put forward as security in respect of the agreement. 

It argued that the Morningside property was executable because it was not a primary residence of the trust, stating that the trust, unlike people, cannot have a primary residence.