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
Small business guru Pavlo Phitidis discusses the techniques, how they work and how to get them right.
Personal finance guru Warren Ingram explains what money market accounts are and the difference between various ETFs.
Bruce Whitfield interviews public speaking superstar Vusi Thembekwayo, who says “Dear 2016: we are glad you are over”.
The Money Show’s Bruce Whitfield interviews Mupita about his life and his exciting (and challenging!) new job at MTN.
The institute's Gwen Ngwenya explains why it took money from Coca-Cola to fund research on taxing beverages containing sugar.
The Money Show’s Bruce Whitfield interviews BBC CEO Mohale Ralebitso.