Jacob Zuma must cough up R7.3m or lose Nkandla home
Court papers show that as of August 2018 the former president was in arrears with his monthly repayments by almost R110,000
10 September 2019 - 20:20
Former president Jacob Zuma has been in default on a multimillion-rand loan he received from VBS Mutual Bank to pay back the state for upgrades made to his Nkandla home in the past year and now stands to lose the property.
Zuma has been failing to fully service the loan from the bank since August 2018, according to a summons filed by liquidator Anoosh Rooplal in the high court in Pietermaritzburg. The bank collapsed in 2018 after a R2bn fraud by its directors was revealed...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.