According to investigations done and published in the media, Jacob Zuma’s debt burden to the liquidated VBS Mutual Bank will still be payable.
Zuma borrowed an amount of R8.5 million from the bankrupt bank for his Nkandla home. Zuma has to pay monthly his installment of about R82,000 which he has to pay for a period of 20 years, even though the bank has been forced into liquidation due to malpractice.
The loan granted to Zuma by the VBS bank raised several eyebrows when it was approved, but it took nine months to get all the documents signed to provide security to the bank.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
