President Jacob Zuma has paid back the R7.8 million he was deemed to pay back for non-security upgrades to his Nkandla homestead with a home loan het got from a little-known bank which has only four branches – in Thohoyandou, Sibasa, Makhado and Johannesburg).
The National Treasury confirmed in a statement the Zumster made the payment well ahead of the deadline, which was set at 29 September 2016, and has left EFF leader Julius Malema no reason to continue his #paybackthemony campaign.
Acting Treasury spokesperson Yolisa Tyantsi spoke to Bloomberg media wo reported that the money “has been paid to the Revenue Fund”.
Nobody know where the Zumster found the money, but it is paid in full. Previous reoirts suggest that he rejected offers from ANC members to pay the money on his behalf.
The Constitutional Court ruled that president Zuma had in fact gained from upgrades done to Nkandla, and he would have to pay back a reasonable percentage “as determined by Treasury”.
Earlier the daily rag City Press reported that the Zuma family was trying to secure a loan through the black-owned VBS Mutual Bank, to pay the R7.8 million.
BusinessTech.co.za reports the “undue benefits” Zuma paid for include non-security-related features such as a “fire pool”, which is in fact a swimming pool, an amphitheater, a chicken run and cattle kraal.
This is what the Presidency said earlier today:
President Zuma has paid over the amount of R7,814,155.00 to the South African Reserve Bank as ordered by the Constitutional Court of South Africa in respect of his private homestead at Nkandla.
The President raised the amount through a home loan obtained from VBS Mutual Bank on its standard terms, one of the few financial institutions which offer home loans in respect of land owned by traditional authorities.
