The ANC’s Jacob Zuma is in a big financial crisis with his multi-million Rand loan he received from bankrupt VBS Mutual Bank and now has to pay back the money.
Along with that, there are the million Rand court costs to be paid while more court cases are being filed in an effort to be cleared of the debt.
The amount of more than R7 million borrowed from VBS can be claimed any day, and then Nkandla can be compromised.
Although the Nkandla complex was but controversially erected with the largest share of the cost financed from the state coffers, it is doubted how much the real value of the property is being erected in a strange rural area.
Meanwhile, it has been reported that Zuma is also still a full year in arrears with the payment of his loan.
According to News24, VBS Mutual Bank’s liquidator, Anoosh Rooplal, has filed an application with the Pietermaritzburg High Court for an order that will force Zuma to pay, or an or