Report 65 Business Practices Committee

The business practices of the Serengeti Group of Companies (unless stated otherwise, Serengeti refers to Serengeti International Limited) involving Dr Kenneth Herbert Roberts (Roberts, ID 391015 5035 006) first came to the attention of the Committee during August 1995 because of an advertisement which appeared in "Die Landbouweekblad'. A verbatim translation from the Afrikaans of this advertisement appears at the top of the next page.

At that time the Committee was undertaking an investigation into the business practices of Kleinsake Finansiering (Kleinsake, see the Committee's Report No 48: Kleinsake Finansiering Tvl & Ovs Bk and Others). Kleinsake purported to obtain loans at low interest rates from abroad for South African entrepreneurs who were unable to be accommodated by local banks. The "borrowers" were required to pay Kleinsake certain amounts for "viability studies" and "other costs" to ascertain whether they qualified for the loans. The loans never materialised and an unknown number of consumers lost thousands of Hands to Kleinsake. It appeared that Serengeti conducted a similar business than Kleinsake.

"ATTENTION ATTENTION!

COMMERCIAL FINANCING?

PRIVATE/BANK

FUNDS AVAILABLE FOR THE FOLLOWING:

- NATIONAL AND INTERNATIONAL PROJECTS

- MINIMUM R500,000 - UNLIMITED

-PROPERTIES - TRANSPORT FIRMS

-MANUFACTURING CONCERNS -TAKE-OVERS

- RESTRUCTURING - BUSINESS DEVELOPMENT

- MANAGEMENT TAKE-OVERS - BUYING OF ASSETS

- RESULTS WITHIN 24 HOURS

SEND SHORT SUMMARY OF REQUIREMENTS

TO

SERENGETI INTERNATIONAL LIMITED

TEL (012) 342-4753/4

FAX (012) 342-1606"

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