News

Zuma finally pays back the money

2016-09-12 15:15

President Jacob Zuma has paid back the R7.8 million he owed for the non-security renovations to his Nkandla homestead.

Yolisa Tyantsi, acting spokesperson for the national treasury, confirmed that Zuma had paid the money last week.

In a statement today, the presidency confirmed that Zuma had raised the amount through a home loan obtained from VBS Mutual Bank. The loan was obtained “on its standard terms”. The bank is one of the few financial institutions that offer home loans in respect of land owned by traditional authorities, the statement said.

Zuma had been given until September 29 to make the payment. This was after the Constitutional Court found on March 31 that he had violated the Constitution with his handling of the Nkandla issue and would have to pay back a portion of the money spent on upgrades to his private home.

The treasury, which was instructed to determine the amount Zuma had to pay for items like the swimming pool, chicken run, kraal, amphitheatre and visitors’ centre, calculated that the president needed to pay back a total amount of R7.8 million.

Zuma is scheduled to answer questions in the National Assembly tomorrow, with the Economic Freedom Fighters members of Parliament vowing earlier to continue to taunt Zuma until he paid the money.

City Press reported in July that Zuma and his family had decided against donations from benefactors and ANC members to help him pay back his Nkandla bill.

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