How to qualify for a R7.8 million loan

The President will have to pay R78 000 per month for 20 years to pay back this loan. He earns R140 000 per month, after tax.

Theo Vorster, Galileo Capital

The state-owned Public Investment Corporation owns 25% of VBS Mutual Bank.

Bruce Whitfield, The Money Show

Last year, the Public Investment Corporation loaned R300 million to VBS Mutual Bank.

Bruce Whitfield, The Money Show

The Presidency says it has complied with the Constitutional Court order compelling him to pay R7.8 million to Sars in respect of his Nkandla homestead.

According to a statement, Jacob Zuma raised the money through a home loan obtained from VBS Mutual Bank on its standard terms, “one of the few financial institutions which offer home loans in respect of land owned by traditional authorities”.

The Money Show’s Bruce Whitfield interviewed Theo Vorster, CEO at Galileo Capital.

Scroll down for more quotes from the audio below.

It’s going to be difficult to make a case that Jacob Zuma can afford this loan.

Theo Vorster, Galileo Capital

There’s a question about the surety. There’s also a question about affordability.

Theo Vorster, Galileo Capital

Jacob Zuma has some kind of a bond at First National Bank.

Theo Vorster, Galileo Capital

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

Read More
Samsung's sexy S8 (best phone ever?) finally launches

Samsung's sexy S8 (best phone ever?) finally launches

The Money Show’s Bruce Whitfield interviews Tech Reporter Aki Anastasiou.

Who should be allowed access to your encrypted data?

Who should be allowed access to your encrypted data?

There are growing calls for governments to be given access to people’s data. Is that fair?

'Treasury runs a world-class operation'

'Treasury runs a world-class operation'

The Money Show’s Bruce Whitfield interviews Investec CEO Stephen Koseff and Standard Bank joint-CEO Sim Tshabalala.

5 things you should know about Guptas vs Pravin Gordhan

5 things you should know about Guptas vs Pravin Gordhan

The Money Show’s Bruce Whitfield interviews amaBhungane Centre for Investigative Journalism Investigator Susan Comrie.

Meet Johan Nel of Gumtree South Africa (largest classifieds site in the country)

Meet Johan Nel of Gumtree South Africa (largest classifieds site in the country)

The Money Show’s Bruce Whitfield interviews Gumtree South Africa Country Manager Johan Nel for his weekly “ShapeShifter” feature.

Why the Black Business Council is supporting Jacob Zuma to finish his term

Why the Black Business Council is supporting Jacob Zuma to finish his term

The Money Show’s Bruce Whitfield interviews BBC CEO Mohale Ralebitso.

Popular articles
Why try to remove such an outstanding Minister? - Nick Binedell (Gibs)

Why try to remove such an outstanding Minister? - Nick Binedell (Gibs)

The Money Show’s Bruce Whitfield interviews Gordon Institute of Business Science’s Professor Nick Binedell.

'Zuma will ensure Cabinet reshuffle doesn't look like Nene/Van Rooyen Part 2'

'Zuma will ensure Cabinet reshuffle doesn't look like Nene/Van Rooyen Part 2'

Analyst Nic Borain says it's unclear whether Zuma's decision to ask Gordhan to return home is related to a Cabinet reshuffle.

Analysis: Possible reasons why Gordhan ordered to return by Zuma

Analysis: Possible reasons why Gordhan ordered to return by Zuma

EWN Reporter Stephen Grootes looks at possible reasons why the President called Pravin Gordhan back into the country.

3 best investments in the world right now (by Mia Kruger)

3 best investments in the world right now (by Mia Kruger)

Hot tip alert! Mia Kruger of Kruger International Asset & Wealth Management shares her stock picks of the week on The Money Show.

President Zuma asks Gordhan and Mcebisi to return from overseas trip

President Zuma asks Gordhan and Mcebisi to return from overseas trip

Finance Minister Pravin Gordhan confirms he was planning on returning early from an investor roadshow.

Department of Education irons out plans to decolonise English curriculum

Department of Education irons out plans to decolonise English curriculum

The Department of Basic Education wants the curriculum to include more contemporary literature.

William Kentridge (world-renowned South African artist) opens up about money

William Kentridge (world-renowned South African artist) opens up about money

Bruce Whitfield interviews one of our most beloved artists of all time about his money hopes, fears, successes, failures, etc.

5 advantages of leasing instead of owning a car (lower monthly payments!)

5 advantages of leasing instead of owning a car (lower monthly payments!)

Want (or need) a new car? Dale Scorer (a wealth manager at AlphaWealth) reckons you should consider leasing.