The Jacob Zuma Foundation said that it would study a judgment by the High Court in Pietermaritzburg, which has ruled that VBS Mutual Bank can seize his moveable assets to repay a R6.5 million loan.
The court made the order on Tuesday.
Former President Jacob Zuma took out a loan with the now-defunct bank when he was first ordered to pay back money used for the extensive security upgrades at his Nkandla homestead.
The R6.5 million loan in question was taken out from VBS Mutual Bank to foot that bill.
But he started defaulting on his monthly installments to the bank in August 2018 – this was five months before the bank was put under curatorship.
The court granted the curator an order to recoup the money, even if it means attaching his moveable assets like cattle and furniture.
Nkandla is built on land owned by the Ingonyama Trust, so the farm can’t be attached.
More Stories
There’s Been An Improvement in Implementation Of Energy Action Plan – Ramokgopa
Waste To Energy: The Solution That Begs To Be Implemented
Stage 4 And 5 Blackouts Until Further Notice
Ramaphosa Appoints Panel To Probe Docking Of ‘Lady R’
Economists Predict Moderate Interest Rate Hike After Consumer Inflation Drop
Interest Rate Hikes And Home Insurance: How To Navigate The Changes
Karpowership Energy Deal Shouldn’t Be More Than Five Years – Ramokgopa
Sign Language Moves A Step Closer To Being SA’s 12th Official Language
Numsa To Meet Eskom For Third Round Of Wage Talks
Changemaker Honoured For Africa Education Nomination
Ramaphosa Confident There’ll Be Less Load Shedding ‘Within The Next Few Months’
G7 Agrees On Ukraine Jets, China ‘Economic Coercion’ Statement