GLOBAL FINTECH ENTREPRENEUR DAVE VAN NIEKERK SEEKS TO OVERTURN HIGH COURT RULING

In response to a recent High Court ruling against him, renowned global fintech entrepreneur Dave Van Niekerk has directed his legal team to file a motion seeking to overturn the judgment.

The High Court of Eswatini had ordered Van Niekerk, along with other defendants, to repay Ecsponent Eswatini’s lost E335 million, which had been invested by members.

Van Niekerk was ordered to repay the money together with other defendants, including Ecsponent Limited South Africa, GetBucks (Pty) Limited South Africa, and Anthony Hay. However, Van Niekerk has announced through a press release, of which The Bridge is in possession, that he will be contesting the judgment.

“The judgment, granted by Justice K. Manzini, is being contested on grounds that it was improperly awarded,” reads part of the statement. Van Niekerk argues that he has instructed his attorneys to contend that the recent judgment against him was conducted without his knowledge or proper legal notification.

Van Niekerk asserts that he was not properly notified of amendments to the legal pleadings involving him. This lack of notification, he claims, prevented his legal team from adequately defending him in court. The legal dispute stems from actions taken by ESW Investment Group (formerly Ecsponent Eswatini), who initiated legal proceedings against Van Niekerk and other defendants, including the Financial Services Regulatory Authority (FSRA).

Van Niekerk, a prominent global fintech entrepreneur with extensive experience in banking and corporate management spanning over two decades, continues to argue that he had no involvement in ESW's operations and financial losses.

Furthermore, Van Niekerk's legal team will refer to a forensic audit initiated by the Central Bank of Eswatini through Cliffe Dekker Hofmeyr. “This audit is expected to shed light on ESW's financial situation and potentially clarify the circumstances surrounding the legal disputes involving Van Niekerk,” the statement reads.

Van Niekerk has referred the media and other interested parties to his legal representative, Craig Assheton-Smith, for further information.