Overview
Hundreds to tens of thousands of South African homeowners are seeking certification of a class action worth more than R60 billion against four of the country’s major banks, alleging that repossessed homes were sold for substantially below market value and not as a last resort (per The Mercury, Feb 17, 2026). The Gauteng High Court in Johannesburg (Judge Leonie Windell) heard the certification application on February 24, 2026, with the banks — including Nedbank — opposing certification (per The Mercury). The action was instituted around 2020 (per The Mercury). Outcomes in individual cases cannot be promised.
Companies involved
Settlement amounts
Claimed class value: more than R60 billion (per The Mercury, Feb 2026). No settlement announced; certification pending as of Feb 2026. Nothing can be promised.
Key dates
- February 24, 2026Certification hearing on a ~R60 billion class action against the major banks (per The Mercury, Feb 17, 2026)
- February 1, 2020Certification action instituted against four of South Africa’s major banks (per The Mercury, Feb 2026: filed six years ago)
Updates
- Updated Oct 3, 2026New case (Oct 2026, ZA): South African bank home-repossession class action — ~R60B; certification hearing Feb 24, 2026, Gauteng High Court (Judge Windell), four major banks incl. Nedbank (per The Mercury, Feb 17, 2026).
Notable filings
No notable filings recorded yet. Docket entries are added from public court records as they appear.
FAQ
Is there a South African class action against banks?
Yes. A ~R60 billion class action over home repossessions was before the Gauteng High Court (Johannesburg) for a certification hearing on February 24, 2026 (per The Mercury).
What are the claims?
Homeowners allege their repossessed homes were sold for substantially below market value and that repossession was not used as a last resort (per The Mercury, Feb 2026).
Which banks are involved?
Four of South Africa’s major banks are respondents, including Nedbank (per The Mercury, Feb 2026).
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