• All Share : 48697.13
    UP 0.11%
    Top 40 : 4199.12
    DOWN -0.18%
    Financial 15 : 13725.13
    DOWN -0.27%
    Industrial 25 : 55264.49
    UP 0.07%

  • ZAR/USD : 10.6150
    UP 0.85%
    ZAR/GBP : 17.8070
    UP 0.57%
    ZAR/EUR : 14.6751
    UP 0.91%
    ZAR/JPY : 0.1037
    UP 1.04%
    ZAR/AUD : 9.8541
    DOWN -0.07%

  • Gold : 1283.2450
    DOWN -0.02%
    Platinum : 1399.0000
    UP 0.04%
    Silver : 19.4418
    UP 0.01%
    Palladium : 783.5000
    UP 0.19%
    Brent Crude Oil : 109.060
    DOWN -0.19%

  • All data is delayed by 15 min. Data supplied by I-Net Bridge
    Hover cursor over this ticker to pause.

Wed Apr 23 17:20:21 SAST 2014

Zuma son sued for R5m

Sapa | 25 November, 2012 09:38
Edward Zuma, son of President Jacob Zuma

Edward Zuma, the son of President Jacob Zuma, is being sued by a state-owned development back for defaulting on a R5 million loan

Ithala Development Finance Corporation was established to provide loans to struggling small businesses and entrepreneurs in KwaZulu-Natal.

It confirmed it had drawn up court papers to recoup the money from Zuma, the Sunday Times reported.

He apparently defaulted on two loans, one worth R4.4 million and another of R512,000.

"He is struggling to pay his debts just like any other South African," Zuma's lawyer, Siphiwe Mncwango, was quoted as saying.

SHARE YOUR OPINION

If you have an opinion you would like to share on this article, please send us an e-mail to the Times LIVE iLIVE team. In the mean time, click here to view the Times LIVE iLIVE section.
Wed Apr 23 17:20:21 SAST 2014 ::