/ 10 October 1999

MANDELA BUYS BISHOPSCOURT HOUSE

FORMER President Nelson Mandela has bought a R4.5-million house in Cape Town’s exclusive suburb of Bishopscourt, Business Day newspaper reported Thursday. Unnamed sources in the property industry were quoted as saying Mandela had acquired the single story, four bedroom house from Mike Levett, the millionaire chairman of Old Mutual, the country’s largest financial services company. Mandela, who spent 27 years in prison, was earning a pretax annual salary of just under R700000 when he vacated the presidency in June. He gave half his pay to charity. His income was boosted substantially by proceeds from his autobiography, ”A Long Walk to Freedom.”