Zuma may lose Nkandla after defaulting on VBS loan

File: Former president Jacob Zuma is fighting to keep his Nkandla home after defaulting on a loan taken to retain the homestead.

File: Former president Jacob Zuma is fighting to keep his Nkandla home after defaulting on a loan taken to retain the homestead.

AFP/Stringer

PIETERMARITZBURG - Former president Jacob Zuma is fighting to keep his Nkandla home.

He has not been paying back the R7.3-million loan he received from VBS Mutual Bank.

Last month, the bank's liquidator issued a summons demanding the full payment of the loan, but Zuma filed a notice of intention to defend the summons.

WATCH: Parliament failed to hold Zuma accountable over Nkandla: ConCourt

He missed the deadline to file his plea.

According to the summons filed in the KwaZulu-Natal high court in Pietermaritzburg, Zuma has been defaulting on the loan since August last year and now he may lose his home.

VBS Mutual Bank collapsed last year after R2-billion was allegedly looted by its directors.

Source
eNCA