EMPANGENI, SOUTH AFRICA JULY 18: President Jacob Zuma during a Nelson Mandela Memorial Lecture to commemorate Mandela Day on July 18, 2017 in Empangeni, South Africa. Zuma said, there were constant attempts to put Mandela on a pedestal and make him seem better than other black people and his ANC comrades. (Photo by Gallo Images / The Times / Thuli Dlamini)
“Jacob Zuma is repaying his R7.8m loan” – says VBS boss, Madambi Muvhulawa
VBS boss stands behind uMsholozi.
EMPANGENI, SOUTH AFRICA JULY 18: President Jacob Zuma during a Nelson Mandela Memorial Lecture to commemorate Mandela Day on July 18, 2017 in Empangeni, South Africa. Zuma said, there were constant attempts to put Mandela on a pedestal and make him seem better than other black people and his ANC comrades. (Photo by Gallo Images / The Times / Thuli Dlamini)
On Thursday, the boss of the defunct VBS Mutual Bank, Madambi Muvhulawa, was questioned on the saga that is currently at the cusp of every South African’s lip right now, at a radio interview in Limpopo.
It appears that Muvhulawa is on a campaign drive to fight against the closure of the bank. In his own way, he believes that the bank has the capacity to remain operational and make revenue as well.
Read – State capture inquiry: Barbara Hogan is coming for Zuma’s head
Muvhulawa: ‘Jacob Zuma is on par with his loan repayment’
When he was questioned about the loan former president Jacob Zuma had made, Muvhulawa assured the listeners that the man had indeed been making his payments on time.
“I know about [the Jacob Zuma loan]. He did not appear on that list… That loan is being paid, it was done in accordance with the rules and the rules are still being followed now. He is paying back with interest”, Muvhulawa stated.
Read – Who looted VBS Mutual Bank? The figures implicated in ‘the great bank heist’ have been revealed
He also attempted to clarify the part in ‘The Great Bank Heist‘, a report compiled by Advocate Terry Motau, where it is stated that R1-million was suspiciously transferred to the Jacob G Zuma Foundation.
The Citizen reported that
In it, Advocate Terry Motau tears into the 53 people, including politicians, officials and independent professionals implicated in R2-billion worth of irregular transactions. The documents also alludes to an amount of R1-million from the bank which was destined for the Jacob G Zuma Foundation.
A passage in the report details the testimony of VBS chief executive Andile Ramavhunga and his mention of a ‘Dudu Myeni Foundation’. Motau expressed his belief that, since Myeni did not have a foundation and was chairperson of the Jacob G Zuma Foundation, Ramavhunga was, in fact, reffering to the latter.
Muvhulawa had an explanation for this, which made little sense to those who read through the report.
“I know for a fact that we were asked to put money into the Dudu Myeni Foundation. It was just a donation because they were going to make life easier”, he explained
