Edward Zuma sued after defaulting on R5m loan

Edward Zuma has apparently defaulted on two loans, one worth R4.4-million and another of R512 000.

Edward Zuma has apparently defaulted on two loans, one worth R4.4-million and another of R512 000.

Ithala Development Finance Corporation was established to provide loans to struggling small businesses and entrepreneurs in KwaZulu-Natal, reported the Sunday Times.

It confirmed it had drawn up court papers to recoup the money from Zuma, the paper reported.

He apparently defaulted on two loans, one worth R4.4-million and another of R512 000.

"He is struggling to pay his debts just like any other South African," Zuma's lawyer, Siphiwe Mncwango, was quoted as saying by the paper. - Sapa

.

Comments

blog comments powered by Disqus

Client Media Releases

Wellness programme for workers on national roads
Sanral cleans up N2 from Riversdale to Crags
MTN wins World Branding Awards
iPhone 6 certified pre-owned available at iStore