President Jacob Zuma has rejected offers of donations from friends and ANC supporters to pay back the R7.8 million he owes for the security upgrades done to his Nkandla home.<\/p>\n
According to a report by the City Press, the president will instead use a regular home loan to pay back the amount.<\/p>\n
Citing “family associates and people close to the matter”, the paper reported that the Zuma family is trying to secure the loan through the black-owned VBS Mutual Bank, with discussions at an advanced stage.<\/p>\n
However the president will have to settle his current bond first.<\/p>\n
Earlier in the year, the Constitutional Court ruled that president Zuma had unduly gained from security upgrades done to Nkandla, and he would have to pay back a reasonable percentage as determined by the Treasury.<\/p>\n
Zuma’s lawyer, Michael Hully, said that the president acknowledged the ruling from the Constitutional Court, and was aware that he was personally liable for the amount.<\/p>\n
“Out of respect to the ruling of the court, the president is going to settle that on his own,” he said.<\/p>\n
Several businesses and supporters had publicly offered to pay off the president’s debt, and had started asking for donations to that end.<\/p>\n
However, citing sources within the family, the City Press said that the family was wary of solving the issue in “a political way”, and opted to decline these offers.<\/p>\n
The president has until 25 September to pay the bill, amounting to R7.8 million.<\/p>\n
The full story can be read in the City Press for 31 July 2016.<\/em><\/p>\n ConCourt approves Zuma\u2019s R7.8 million Nkandla bill<\/a><\/strong><\/p>\n Zuma ditches presidential plane for a rental that costs R2 million a month<\/a><\/strong><\/p>\nMore on Zuma<\/h3>\n