President Jacob Zuma has paid back the R7.8 million he owes for the non-security upgrades to his Nkandla home, National Treasury confirmed.<\/p>\n
The president made the payment well ahead of the deadline, which was set at 29 September 2016.<\/p>\n
Acting Treasury spokesperson\u00a0Yolisa Tyantsi confirmed to Bloomberg<\/a> that the money “has been paid to the Revenue Fund”, with an official statement on the matter expected to be issued later on Monday.<\/p>\n While no disclosures or details were made pointing to the source of the funds, it was previously reported that the president would reject offers from ANC members and business people to pay the amount on his behalf.<\/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\u2019s 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 \u201cOut of respect to the ruling of the court, the president is going to settle that on his own,\u201d he said.<\/p>\n Citing \u201cfamily associates and people close to the matter\u201d, the\u00a0City Press\u00a0reported in July that the Zuma family was trying to secure a\u00a0loan through the black-owned VBS Mutual Bank,\u00a0to pay the R7.8 million.<\/p>\n The “undue benefits” Zuma paid for include\u00a0non-security-related features\u00a0such as “fire pool” (swimming pool), amphitheater, a chicken run and cattle kraal.<\/p>\n Here is the official statement from the Presidency:<\/p>\n 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.<\/p>\n 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.<\/p><\/blockquote>\n This is how Zuma will pay back the money for Nkandla<\/a><\/strong><\/p>\n onCourt approves Zuma\u2019s R7.8 million Nkandla bill<\/a><\/strong><\/p>\n Zuma must pay R7.8 million for Nkandla<\/a><\/strong><\/p>\nMore on Nkandla<\/h3>\n