President Zuma has paid over the amount of R7 814 155.00 to the South African Reserve Bank as ordered by the Constitutional Court of South Africa in respect of his private homestead at Nkandla.
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.
Enquiries:
Dr Bongani Ngqulunga
Cell: 082 308 9373
E-mail: bongani@presidency.gov.za
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