JZ hasn’t paid back the money – and now VBS wants Nkandla

11 September 2019 - 06:06 By MATTHEW SAVIDES
Former president Jacob Zuma. File photo.
Former president Jacob Zuma. File photo.
Image: JACKIE CLAUSEN

In September 2016, former president Jacob Zuma signed a multimillion-rand loan agreement with VBS Mutual Bank to cover the court-enforced repayments for upgrades to his Nkandla homestead.

But less than two years later, Zuma had already defaulted – and three years later, almost to the day, the troubled bank’s liquidators filed court papers to get the former president to pay up on an outstanding R500,000 in arrears, according to court papers filed last week.

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