Zuma a 'kept politician', report reveals

2012-12-07 08:08
(File, Sapa)

(File, Sapa)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Johannesburg - A secret auditor’s report shows how a long list of benefactors funded President Jacob Zuma’s extravagant lifestyle by more than R7m.

The Mail & Guardian on Friday detailed how crucial evidence in the case against Zuma was kept hidden when the NPA abandoned plans to prosecute him.

The KPMG report reveals that Zuma was a “kept politician” who accepted money and favours not only from Schabir Shaik but also from Nelson Mandela - who gave him a cheque of R1m only days after Mbeki axed Zuma as his deputy in June of 2005.

At this point Zuma was overdrawn on his bank accounts by R400 000.

Other benefactors included businessmen like Jurgen Kögl, Vivian Reddy, his nephew Khulubuse Zuma and arms companies like Thomson-CSF (later renamed Thales) and Ferrostaal, which won a submarine contract.

Banks also bent over backwards to accommodate Zuma despite his terrible credit rating and regular defaulting on loans.

The report was part of the Scorpions’ preparation for Zuma’s appearance in court in 2006, but when the case was struck from the roll, it was never admitted into evidence.

The report states: "The financial position of Zuma deteriorated over time, mainly as a result of the fact of the shortage in daily funding required to fund his lifestyle… Zuma’s cash requirements by far exceeded his ability to fund such requirements from his salary."

- Full KPMG report.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
Read more on:    kpmg  |  schabir shaik  |  nelson mandela  |  khulubuse zuma  |  vivian reddy  |  jacob zuma  |  corruption  |  politics

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Rugby World Cup 2015

All the action from the 2015 RWC, including live coverage of all 48 matches, breaking news, fixtures, results, logs - and much more!


Rugby World Cup 2015

Habana to extend Test career?
Moody backs under-fire Lancaster
Folau a doubt for Wales clash
England merchandise 'reduced to clear'
Traffic Alerts

Are you burning the candle at both ends? Listen to your body and your emotional reactions. Know when to slow down or stop. It is a...read more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.