Former president Jacob Zuma is still required to honour monthly payments for his home loan at VBS Mutual Bank, Netwerk24 reported. The scandal-ridden VBS Mutual Bank, which was liquidated on November 13, granted Zuma an R8.5m bond which he could not afford, and it was at least nine months before any documents were signed to..
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Zuma must still pay back the money he lend for his Nkandla homestead to Scandal-ridden VBS Mutual Bank, which was liquidated in November – a R8.5m bond which he could not afford
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Bank that lent Zuma money to repay Nkandla upgrades under curatorship
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VBS Mutual Bank has been placed under curatorship.
South African Reserve Bank (SARB) Governor Lesetja Kganyago announced this late on Sunday afternoon at a media briefing in Pretoria.
The bank came under the public spotlight in September 2016 after it gave former president Jacob Zuma a loan to repay R7.8-million as ordered by the Constitutional Court for non-security upgrades at his private Nkandla homestead.
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