Sign in
Download Opera News App

 

 

Zweli Mkhize says his wifes loan was above board, Mkhize opens about Ithala loan

SOURCE: https://www.iol.co.za/dailynews/news/zweli-mkhize-says-wifes-ithala-loan-was-above-board-63c45b43-04df-4bc6-92c3-33ab4006d4fb

Former health minister Zweli Mkhize exposed the truth that the Ithala Development Finance Corporation Bank loan granted to his wife who is Dr May Mkhize in 2006 was within the parameters of the law and was being serviced back until 2026. Mkhize who is now out of the parliament responded to the questions written from Daily news.

15years ago when Mkhize was still a Finance and Economic Development MEC in KwaZulu-Natal, his wife May Mkhize was granted a loan from the state-owned Ithala Development Finance Corporation to the value of R11.8m to finance a farm near Pietermaritzburg. What went viral on the news is that did Mkhize use his political favors to pocket a loan for his wife to finance a farm in Pieternaritzburg.

Her 20-year commercial loan of R11.7-million is still being serviced with interest as per the loan agreement with the bank until the year 2026. It is alleged that the current amount owing on the bond is R8 million Mkhize exposed.

Content created and supplied by: MagneticNEWS (via Opera News )

Ithala May Mkhize Mkhize Zweli Mkhize

COMMENTS

Load app to read more comments