Zuma son sued for R5m

2012-11-25 10:31
Jacob Zuma (Picture: AFP)

Jacob Zuma (Picture: AFP)

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Johannesburg - Edward Zuma, the son of President Jacob Zuma, is being sued by a state-owned development bank for defaulting on a R5m loan, the Sunday Times reported.

Ithala Development Finance Corporation was established to provide loans to struggling small businesses and entrepreneurs in KwaZulu-Natal.

It confirmed it had drawn up court papers to recoup the money from Zuma, the paper reported.

He apparently defaulted on two loans, one worth R4.4 million and another of R512 000.

"He is struggling to pay his debts just like any other South African," Zuma's lawyer, Siphiwe Mncwango, was quoted as saying.

- SAPA

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Azande Futhi says... @Claire, how much does he owe? Not known, or not disclosed? how much was the fine, not known or not disclosed? that's the double standard I am talking about. Read the article...

 
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