Nkandla builder’s loan

2013-12-24 00:00

CAPE TOWN — A state institution tasked to finance developing businesses has confirmed that it gave a R10 million loan to a former Pietermaritzburg teacher who is now one of the largest contractors who was involved in building President Jacob Zuma’s private estate at Nkandla.

More than a year later, the IDC has not been paid back a cent of the loan.

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