BREAKING: President Zuma #PaysBackTheMoney (with a Home Loan)
JOHANNESBURG – President Jacob Zuma has complied with the Constitutional Court order to #PayBackTheMoney! In a statement, issued today by the Presidency, it said the South African President has paid over the amount of R7,814,155.00 to the South African Reserve Bank. The payment was ordered by the Constitutional Court of South Africa in respect of the personal […]
JOHANNESBURG – President Jacob Zuma has complied with the Constitutional Court order to #PayBackTheMoney!
In a statement, issued today by the Presidency, it said the South African President has paid over the amount of R7,814,155.00 to the South African Reserve Bank.
The payment was ordered by the Constitutional Court of South Africa in respect of the personal renovations made to his private homestead at Nkandla in KwaZulu-Natal. The total spent on the upgrade had been R246-million, for which tax payers money was used. In her “Secure in Comfort” document the Public Protector, Thuli Madonsela, found Zuma was liable for certain non-security features (including a swimming pool) to his home.
The Presidency says that 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.” (Great advert!)
A spokesperson for the Treasury said: “We can confirm as the National Treasury that the payment has been received.”
It’ll be interesting to see what advert Nando’s comes up with to commemorate this occasion!
President Zuma and the Nando’s PayBackTheMoney Video Advert from last month: It’s a Wing-Wing Situation.
https://youtu.be/2jaOd1v1B0Q