Presidency: Zuma has Nkandla home loan

2012-11-20 11:30

Cape Town - President Jacob Zuma does indeed have a home loan on his residence in Nkandla, the presidency said in a statement on Tuesday.

Presidential spokesperson Mac Maharaj said the department had “noted” weekend media reports which implied that Zuma may have misled Parliament when he said he had a mortgage bond on his residence in Nkandla.
“We reaffirm that President Zuma does indeed have a bond on the residence with one of the national banks and he is still paying it off monthly,” Maharaj said.
“We urge the media to respect the agencies that are investigating the various aspects of the security enhancements at the residence as speculations and rumour-mongering will not assist the process.”

On Sunday, City Press reported that the land on which Zuma's home stands was owned by the Ingonyama Trust, headed by King Goodwill Zwelithini, which managed 32% of all land in KwaZulu-Natal on behalf of the state for the benefit of its occupants.

Various reports have stated that the upgrade to the Nkandla residence has cost upwards of R200m.

  • anna.turner.9237 - 2012-11-20 11:34

    Which bank??

      JanGrimbeek - 2012-11-20 11:44

      HSBC, the national bank of China and HongKong

      squeegee.pilot - 2012-11-20 11:45

      What about Reddy's loan? Who is lying? Both? All of them?

      stirrer.stirrer - 2012-11-20 12:03

      Never mind "which bank", NO bank can register a bond over a property which belongs to a trust, unless the trust gives it's permission (already established this didn't happen). So either they are lying (again), or this was not a bond but a personal loan.

      alan.gernet - 2012-11-20 12:32

      African Bank?

      godfrey.welman - 2012-11-20 12:33

      You can be sure there is no bond based on the time-delay between this statement and media report, even Reddy reacted faster, all lies.

      alan.gernet - 2012-11-20 12:35

      so it seems like Juju must actually have a heck of a lot of ammo against Zuma. I have heard it from an ANC stalwart, that move No 1 at Manguang is to send the President packing for Nkandla, followed by criminal charges. If this is true, we are in for interesting days ahead....

      kenpeg.dawson - 2012-11-20 12:53

      Bank of ask no questions and we will tell you no lies (pty) ltd

      alan.gernet - 2012-11-20 12:56

      I have heard of a Sperm Bank in Kzn ... not sure if that is near Nkandla though?

      jannie.beirowski - 2012-11-20 13:06

      Never mind the bank, look at the credit rating. Even if he was earning a million a month, he could not afford the payments while he has the job of president. This job is also not very secure, as he may lose it very soon and then he faces the danger of prosecution and being jailed with no income. Where will they find a buyer with enough money and willing to invest it in a couple of buildings in the middle of nowhere?

      sticky.toffee - 2012-11-20 14:00

      The Gravy Train Bank

      surfing.sam.9 - 2012-11-20 14:09

      Just found this, a 40 shop Mall in limpopo will be less than zumaville.

      surfing.sam.9 - 2012-11-20 14:10

      willem.wulfse - 2012-11-20 15:27

      Gupta or some other benefactor. Looking at the official income, what kind of a loan does a 70 year old person qualify for?

      charlietlo - 2012-11-20 15:27

      i think its Volkskas Bank

      nico.vandermerwe.54 - 2012-11-20 15:42

      The bookies must be making a fortune on bets about what the next version of the truth will be. Bioplus for Mac for the next few nights.

      alan.gernet - 2012-11-20 15:52

      whaahaa - not Bioplus for Dizzy Mac for the next few nights - ratHER REDdy BULL

      John - 2012-11-20 16:12

      Come on guys why so negative there is a bank account. SWISS bank account. LOL

      thabang.bonang.7 - 2012-11-20 17:29

      Not sure abt the bank but it seems we need to be "Reddy for a Shaick".

      Donkervlie - 2012-11-20 19:51

      This bond may be paid up but not closed remember Shaik gave him R500000 at that time for his part in the arms deal so that bond has been paid up but it is still open. Thats why they do not want anyone to see the documents. These guys are very sharp.

      wendy.barnett.1238 - 2012-11-21 07:41


      pierre.pretorius.370 - 2012-11-21 08:07

      SARS bank... Our money :(

      handy.andy.3990 - 2012-11-21 08:25

      Ok, lets say that is true. So now who paid for the rest of the R250m? Still us, the stupid tax payer?

      herman.kramer.988 - 2012-11-21 11:32

      Here are some interesting facts.... according to the Web site, President Obama has an annual income of R3.6 Million ($400 000.00 pa ). The money spent on Nkandla is Estimated to be R238 Million. That means that President Obama must work over 60 years to cover the money the Estimate on Nklanda Home. Now STOP with the BS Mr Zuma! You are a Clueless Idiot! This reeks of Corruption! How does a R900k bond cover this?

      ansie.b.badenhorst - 2012-11-21 11:38

      Banks do not finance tribal land!!!!!!!!!!

      heathway.master - 2012-11-22 09:35

      Just cannot understand all the bulls**t and totally irrelevant spin doctoring coming from Government. The country could not care a toss what happened in 2004. The only questions they want answered, is how the R250 million which recently disappeared from public coffers was spent. Helen Zille needs to present Zuma with a simple 2-3 page questionnaire containing all the relevant facts the public is screaming for. Zuma must furnish full answers to each question: Which Government Ministers authorised the allocation of public monies; supply documents and signatures; ; how was each single cent spend, and a detailed disclosures of exactly on what; if financed by family, proof of money transfers and all relevant bond accounts and banks or financial institutions, money lenders etc. involved. Zuma must then sign the document in front of a commissioner of oaths, and hand it back to Zille. In this way, all is brought out into the open, and the tax payer will no longer be in the dark as to the true facts of the whole Nkandlagate scandal. Helen is a highly intelligent woman, and why she has not simply followed this route, is to me a major mystery.

  • webstorm.isp.5 - 2012-11-20 11:36

    Ok one day he has no loan, then he has a loan from a "business man" and now he has a loan with a bank. Is anybody else thinking BS?? They lie so much the dont know what the lie before was...your not making it any better ANC...

      alan.gernet - 2012-11-20 12:36

      yeah Spinning Top Mac Maharaj should have checked with Reddy before making statements. They are incriminating each other at such a rate of knots,nobody in the anc even knows what the latest 'offical' position is.

      art5SA - 2012-11-21 12:43

      Both CHIPATTI'S ARE LIARS! Maharaj is the OFFICIAL GOVT LIAR and whom with half a brain, could possibly trust REDDY? There is a "SNAKE IN THE GRASS" over this issue! Yet to bump into a CHIPATTI that does not lie!!

      rowan.clark.10 - 2012-11-21 20:02

      Yep oneday goodwill asks for a big increase to run his harlem so jacob says yes but give me half and we will put it in the joint trust account and when i get put out to pasture (hopefully soon )we can all enjoy our little kraal in the sun .Thanks to all these disgruntled taxpayers that give me shower aches.

  • solanga.maluleke - 2012-11-20 11:37

    is that true that he is paying bond in the rural areas and if so what had happen to Shabbir Shaik's money

  • ahemsurferosa - 2012-11-20 11:37

    oh dear vivian reddy? the truth?

      kenpeg.dawson - 2012-11-20 11:50

      And incrimidate himself you must be joking.

      john.bucknall.1 - 2012-11-21 03:50

      What? And loose his get out of jail free card?

  • talana.malherbe - 2012-11-20 11:38

    Oh Mac you confuse us! So now the "business man" didn't lend him the money??? Why is this bond not registered? Which bank? You only make matters worse with all your cover up lying!

      clive.wannenburg - 2012-11-20 12:01

      Due to failer and mistrust i feel there is only one solution, "you are the weakest link good bye."

      alan.gernet - 2012-11-20 15:54

      The 'People's Bank' ???

      john.bucknall.1 - 2012-11-21 03:52

      @talana, which bank and most much?

      art5SA - 2012-11-21 12:45

      Where did the R69m for the EXTENSIONS to the Zuma KAYA come from? I, and most Saffa's know about the R250m "SECURITY UPGRADE" that is ongoing... but WHERE did the R69m come from?? Is this the "BOND" that Maharaj so fondly refers to?????? Bloody LIARS... the LOT OF THEM!!!

  • heathway.master - 2012-11-20 11:39

    It will be very interesting find out on which date the loan was taken out.

      Antipoaching - 2012-11-20 12:26

      You got it 100% correct Luzuko..... So do you write Mac's press releases dude?

      narike.lintvelt.9 - 2012-11-20 13:12

      I've started a petition in support of SA's opposition parties' motion of no confidence in Pres Zuma. Please take the time to sign and share this. Thank you.

      MallyGold - 2012-11-20 15:35

      More importantly, how much is the bond registered for? I bet it's only a drop in the ocean to fool us into thinking its all above board and that the tax payer hasn't footed the entire bill. It's still an illegal waste of taxpayers money though!

      john.bucknall.1 - 2012-11-21 04:21

      @Luzuko, exactly as Alicia Myburgh said...."the ink is still wet" I hope the Sunday Times reporters are investigating with the Deeds Office. The worst thing about this whole saga is the fact that they think we are stupid!! Why can't we impeach this lying excuse for a president? He is worse than Bill Clinton telling the USA he never had sex with Monica.

  • Tobie Vd Vyver - 2012-11-20 11:41

    Even if he earns much less than the monthly instalments it can be done. I mean malema had a R250K watch, R6K trousers, a few big houses, Range Rover of R1mil and he could do all that on only a R20K paycheck per month...

      alan.gernet - 2012-11-20 12:40

      yeah - it's called Anc Creative Accounting 101. - 2012-11-20 13:31

      yip, wish my bank would be "so nice" to me

  • gareth.beesley.7 - 2012-11-20 11:42

    So first no bond registered, and then a "connection" pipes up and says the money was lent and now there is a loan from a major bank? So which lie does one believe? And as Peter Pumkineater rightly point outs - R1,7M a month seems slightly over the salary structure of the president. This government is rotten to its very core, the legacy of what they stood for dead and buried under a pile of lies, corruption, nepotism, greed and parasitic actions.

      BigChiefPlumbPudding - 2012-11-20 12:29

      Exactly. All we know now as a certainty is that someone is lying. Can we never get the truth in SA? There's a bond, then no bond, then a private loan, now a home loan. Which is it gentlemen?

      alan.gernet - 2012-11-20 13:04

      I suspect that Fatboy is sitting back in his own Zimpopo mansion, lauging his head of as Mac's "spins' continue to unravel the President and all his men.

      BigChiefPlumbPudding - 2012-11-20 13:33

      alan - I agree. It's a matter of which lie isn't a lie.

  • jocelia.petrick - 2012-11-20 11:43

    So why did he have to lie in parlement? Why didn't he tell the truth from the start? He is a terrible lair!! :(

  • gideon.coetzee - 2012-11-20 11:43

    R1,735,646.47 repayment a month on a salary of R218 456.75 before tax, That is not bad Mr President.

      kenpeg.dawson - 2012-11-20 11:49

      Will he introduce me to his bank manager.

      alan.gernet - 2012-11-20 13:24

      Sounds like a 'Shaiky Loan'

      patsy.smith.125 - 2012-11-21 11:45

      What is called 'creative accounting'

  • TheMcAttack - 2012-11-20 11:43

    It's astonishing how they continue to lie like this. But it's fine, they'll just dig the hole deeper for themselves. At the end of the day, you cant hide from the truth and it'll come back to haunt them in the future when all their "business friends and contacts' have left them.

  • gavin.lott.9 - 2012-11-20 11:44

    Cough cough Bulls**t cough cough...

  • quantron - 2012-11-20 11:45

    Lies, lies, lies, cover-ups, lies, lies, lies, smoke screens, lies, mud slings, lies, lies, threats, some more lies and then riots. - 2012-11-20 13:34

      you forgot... oooo - look, racists

  • kim.short.169 - 2012-11-20 11:45

    which bank?

      JanGrimbeek - 2012-11-20 11:53

      The South African Reserve Bank,.... next question, in whos name ?

  • kenpeg.dawson - 2012-11-20 11:46

    More lies, then Reddy gave him the money ,Then he had a bond, Then he won the lotto. WHAT IS THE TRUTH. Is that too much to ask.

  • WysJouMys - 2012-11-20 11:46

    HAHAHAHAHAHAHAHA!!!! Thieving BASTARD!! I aint buying what zzzooooommmeeer is selling.

  • JanGrimbeek - 2012-11-20 11:48

    "We urge the media to respect" Maharaj said. and we urge the presidents office to respect our intelligence

      patsy.smith.125 - 2012-11-21 11:58

      LMAO!!!!!! Respect is EARNED, Mac.....

  • joe.farmer.92775 - 2012-11-20 11:48

    Bleep bank no doubt

      klipkop.degroote - 2012-11-20 13:55

      lol, Steve sorted Zumer out.

  • matusowsky - 2012-11-20 11:49

    When did Nkandlagate get uncovered? Months ago? It took them months to come up with this sorry excuse? We KNOW something is up Mr Maharaj and Mr Zuma. Stop playong fowl, you WILL face your time in jail one day for your corrupt activities. It is only a matter of when.

  • andre.ernstzen - 2012-11-20 11:50

    Different day, different story. My allergies acting up again - allergic to BS

  • ciaran.bates.3 - 2012-11-20 11:50

    You are a racist!!!! How can you ask about loans? Agent!!!! Get out!!!!

      nadineelvina.francis - 2012-11-20 14:54

      true story man.

  • malcolm.james.macleod - 2012-11-20 11:50

    One of the national banks? Why can't they be more specific?

      JanGrimbeek - 2012-11-20 11:54

      Yip, I wonder when did SARS registered as a Bank !

      rodney.louis.7 - 2012-11-20 15:52

      Could it be the Reserve Bank ?

      alan.gernet - 2012-11-20 16:12

      Probably the Bank of Athens, hence the Greece crisis

  • gembleton1 - 2012-11-20 11:51

    OK Mac!! show us the bond doc and then we will believe you because as of now all intelligent people just think you are digging your hole a little deeper, and you are a joke as well,

  • richard.hipkin - 2012-11-20 11:52

    More importantly and I hope those "give us back our land" are reading VERY carefully. 32% of land in KZN belongs to the king... did you read that? 32%. So now you know who to go jump up and down in front of when demanding land.

      dave.elmore.5 - 2012-11-20 13:22

      They still want the other 68%

      richard.hipkin - 2012-11-20 16:25

      Yeah I know, but 32% belongs to ONE man...

      frans.visserdsb - 2012-11-21 07:16

      actually it belongs to the Zulu trust which is administered by the King. The scary thing is that with 32% of the land in KZN under his control, he still needs money from the SA taxpayers to survive....

  • magda.harmse - 2012-11-20 11:54

    I believe this as much as I believe grass grows in the sky!

  • Carol Benater - 2012-11-20 11:55

    what a joke you are Jacob Zuma!!!!!! As a South African I am embarrassed to call you our President!

  • alwyn.vantonder - 2012-11-20 11:57

    Whenever Mac starts running his mouth, you should know, the ANC is trying to hide something serious! Zuma is too dumb to answer intelligent questions, he needs his fellow crooks to lie with him!

  • Montagnes.Bleues - 2012-11-20 11:58

    eees this "Clever" or "Not Clever" so secret? mashini'wami, mashini'yami yinto! giggle snigger snort skirt scratch spit leli e'into 'ibondi' #nkandlagatebond ees it fresh current i'bondi or i'stale i'bondi? What is i'bondi zero interest? Hayibo, many ungazi questions today!!!!!!!! Is no one reddy to help?

      alan.gernet - 2012-11-20 14:29


  • braamc - 2012-11-20 11:58

    You all a bunch of thieving bastards. Criminals

  • theMichaelHawthorne - 2012-11-20 11:59

    Racist anc pigs like you make me sick... you like to see your brothers and sisters in shanties as long as you can be a maid at nkandla?

  • theMichaelHawthorne - 2012-11-20 12:00

    Zumafakers lying again... it is a bond is it a loan no its just another corrupt anc antic

  • neo.mphuthi.12 - 2012-11-20 12:01

    this is too much now,nobody is perfect really now

      talana.malherbe - 2012-11-20 13:56

      clearly you are not perfect either....really now! Not the sharpest tool in the shed...really now!

      grant.montgomery.5074 - 2012-11-20 14:50

      neo, are you serious or were you being sarcastic? If serious you have a major problem.

      patsy.smith.125 - 2012-11-21 12:05

      A PRESIDENT is not supposed to be so very obviously, extremely IMPERFECT, neo. His very position should make him set a good example. Instead of that he is screwing us ALL. Particularly the people who need his help the most. He is a disgraceful, cruel creature.

  • trevor.bush.9655 - 2012-11-20 12:01

    Hell some people are ignorant, ZUMA IS PRESIDENT OF SA, what he WANTS he GETS...what bank in their right mind would REJECT Zuma?????Look and Shabir, man was locked up and bought his way out of prison be bank rolling Zuma and his wives for years...naving the Presidnt as a "friend" is always beneficial...ask Mo Shaik for one...Tokyo and the list goes on n on.

  • negry.mabasa - 2012-11-20 12:03

    Vivian Reddy is now an National Banker....

      alan.gernet - 2012-11-20 13:10

      that with a B or a W?

      narike.lintvelt.9 - 2012-11-20 13:14

      I've started a petition in support of SA's opposition parties' motion of no confidence in Pres Zuma. Please take the time to sign and share this. Thank you.

  • africa.mbatha - 2012-11-20 12:04

    we still going to endure 7 yrs of these lies,,, its enough now,,

      alan.gernet - 2012-11-20 13:10

      whoo eh eh ... just one term is enough!

      steve.gibson.146612 - 2012-11-20 18:36

      One term was one term too much already!!

      wendy.barnett.1238 - 2012-11-21 07:45

      @alan.gernet - that's the funniest thing I have read in a long time .ROFL

      alan.gernet - 2012-11-21 08:25

      thanks Wendy

  • sheldon.mackridge1 - 2012-11-20 12:04

    How big is the loan?

      alan.gernet - 2012-11-20 13:10

      as big as a spear

      BigChiefPlumbPudding - 2012-11-20 14:58

      Pick a number - it'll be bigger than that.

  • altus.kirsten - 2012-11-20 12:05

    Organised this morning via the Landbank at 0% interest.

  • angelo.mbuyazikamathinta - 2012-11-20 12:05

    Well the issue should be laid to rest. He obtained a loan, from various sources. Just because the bank is undisclosed, and the businessman from Durban also revealed that he also assisted does not make the president a liar now, does it?

      DarrenCooper68 - 2012-11-20 12:35

      Fundamentaly, I agree. However the postings here are a sign that many people distrust the president, myself included. There is plenty fodder to feed this mistrust. I guess those that support him don't see it and are happy to be led by someone with such a big cloud hanging over his head. I firmly beleave that for someone to hold such high office, their ethics and morals should be without question. If this is the case, why all the questions and skulldugery. The timing for all is is questionable, but in the grand scheme of things, so what

      bob.mcmillen.564 - 2012-11-20 12:45

      angelo, wake up please, people like you are part of the problem, Zuma (sorry I can't call him a president), relies on people like you, people he can feed his BS to and they remain loyal, I am confident there are a lot of bright young people, that are the future of this country, can already see right through your Zuma, him and his corrupt ANC cadres.

      maredi.mello.75 - 2012-11-20 13:27

      He is a liar, a crook, and corrupt thief.

      talana.malherbe - 2012-11-20 13:58

      Oi angelo, how do you think Zoomer repays the loan on his salary? Think my friend. Don't just sit back and watch these corrupt thieves destroy your future, have some backbone and fight for a decent life! - 2012-11-20 15:27

      you're joking, right?

  • - 2012-11-20 12:05

    Seriously that statement is hoping no one asks the obvious question. how much is the bond he is paying. What does he want a congrats for paying something?

  • cj.venter - 2012-11-20 12:08

    napalm would make a nice finish to all our hard earned overtaxed monies that are/were wasted here :(

  • hitting.thefan - 2012-11-20 12:10

    Yes prove it!

  • godesha - 2012-11-20 12:10

    So who's lying? a. The Presidency b. Mr Zuma c. Mr Reddy d. All of the above Get the answer right and you could win a the genius of the day award.

      anton.joubert.35 - 2012-11-20 12:28

      All of the above - Thanks for the award

      Antipoaching - 2012-11-20 13:59

      wrong!!!! The DA, the Media and all of us who think "all of the above" are lying

  • angelo.mbuyazikamathinta - 2012-11-20 12:11

    Well the issue should be laid to rest. He obtained a loan, from various sources. Just because the bank is undisclosed, and the businessman from Durban also revealed that he also assisted does not make the president a liar now, does it?

      alan.gernet - 2012-11-20 12:43

      nope - he should be accountable for the truth! If he is stil paying off the first "loan", how exactly is he affording to pay off the other R229,900 Million Rand as well, even with the help of his "family' ??????????? Hmmmm??????? Are the loans disclosed to SARS?

      justsayingagain - 2012-11-20 14:23

      I would bet my left testicle that the president is going to go down in history as the most corrupt liar in SA history

      steve.gibson.146612 - 2012-11-20 18:38

      Testicle safe forever!!!!

  • george.pito - 2012-11-20 12:13

    Bunch of bozos the more they explain the more they expose the corruption. A trust of King Goodwill managing it on behalf of the people. Zuma with a loan or or not which he cant pay. Same King Goodwill wanted money two weeks ago. But yeh thats why he got the name Goodwill

  • njdejager - 2012-11-20 12:19

    Funny that Mac did not say JZ was quoted out of context. Maybe Mac is now out of context shame. I wonder how it feels to wake up in the morning and start to think up story's to tell the media. He is a really bad spin doctor though.

      alan.gernet - 2012-11-20 12:46

      Check out Zapiro's picture of Mac 's spinning head!!! Very funny!

      bogatsu.pilane - 2012-11-20 15:32

      Mac is not a bad spinner - The problem is what he has to spin on a daily basis. It must be tough working for the President. Poor Mac.

  • Pieter Strydom - 2012-11-20 12:21

    show us

  • John - 2012-11-20 12:21

    Can Mac Maharaj stop feeding us s##t information,is he really getting paid to lie and cover-up for this shower head

      bob.mcmillen.564 - 2012-11-20 12:51

      John, that is exactly what he is getting paid for, they know it doesn't wash with intelligent forward thinking people of this country, but you can read here there are still plenty of clowns that do belive this BS.

  • John - 2012-11-20 12:23

    Can Mac Maharaj stop feeding us s##t information is he really getting paid to just lie and cover-up for this shower head.

      alan.gernet - 2012-11-20 12:46

      that is a spin doctors job .. so who better?

      mandla.dlamini.524 - 2012-11-20 15:58

      no the matter of fact is such derrogate and insult one day will end up in crush of teeth and cry, remember racist such as you can make the world blind

  • Antipoaching - 2012-11-20 12:23

    Which bank? For what amount? How does Zuma get a bond on land he doesn’t own? Why does the representative of the landowner not know about the bond? why does the Deeds Office not have the bond registered?

  • ndou.miranda - 2012-11-20 12:23

    Will this ever end mara?