Good Morning, SA | Jacob Zuma must cough up nearly R8m for his Nkandla bond - or risk losing everything

PLUS: Gupta brothers still behind bars,

Former president Jacob Zuma must come up with nearly R8 million to pay his bond, or risk losing his movable assets - no matter where they are located.

Zuma owes VBS Mutual Bank R6.5 million plus 10.25% interest from 31 August 2019 for a bond he secured on the property on Nxamalala Farm in Nkandla.

Today Kyle Cowan takes us through three outcomes facing Zuma should he not pay back the money.

In opinions, Pieter du Toit writes that if wasn't for Thuli Madonsela being so committed to the rule of law and justice, we wouldn't have seen the Transnet cartel leaders appear in court this week.

Madonsela is one of many speakers at our inaugural summit, On the Record, which is taking place today in Johannesburg. You can view the full list of speakers here.

Chief Justice Raymond Zondo will be delivering the keynote address, which you can watch live on News24 at 09:00.

The rest of the broadcast will be free to watch for News24 subscribers.

We're so excited for this one, and I hope you'll join us virtually if you're not attending in person today.

That's it from me this morning, see you tomorrow.

 

KELLY ANDERSON, AUDIENCE ENGAGEMENT EDITOR

For subscribers

The story: Jacob Zuma obtained a R7.8 million bond in 2016 to pay back a portion of the nearly R250 million public money spent on upgrading his Nkandla homestead.
 

The background: The bond was given to him by VBS Mutual Bank, and the money was paid over months before Zuma ever put pen to paper on any documents.
 

What now: If he does not pay, the sheriff of the court will take inventory and seize his assets and if the amounts recovered still cannot cover the debt, he could be sequestrated.

For subscribers

Thuli Madonsela was hard-arsed and hard-nosed six years ago when she started investigating state capture. Thanks to her, South Africa still has a fighting chance, says Pieter du Toit. 

The story: Rajesh and Atul Gupta are in custody in the UAE, Justice Minister Ronald Lamola said.
 

What else: Lamola informed the National Assembly on Wednesday, during a question session with the peace and security cluster, that the brothers had applied for bail, but it was denied.
 

What now: He conceded that it could be a protracted operation, but that he had confidence in the process.

COMPANIES

Denel has warned that if nothing changes in terms of its funding, it could run out of funding capital as soon as October.

NEWS

There were no human attacks or death reports, but cow carcasses had been found.

POLITICAL-PARTIES
For subscribers

The internal divisions of ailing opposition party, Cope, played out in public this week in a series of tit-for-tat suspensions, which then culminated in an attempted assault of party leader Mosiuoa Lekota on Wednesday.

For subscribers

Many will speculate for years about what went wrong with Cope, a party that held so much promise. To an outsider, it will be the motive and the haste in the formation of the party. To those involved, however, it is a lot more complex than that, writes one of the party's founders, Mbhazima Shilowa.

Mbhazima Shilowa

For subscribers

Former Bok mental guru has simple advice for Wallaby tricks: 'They like us emotional and dumb'

Former Bok mental coach Henning Gericke believes the best way for the national side to counter their wily hosts is to simply double down on their unity and belief.

The rise of 'Dr Google': The risks of self-diagnosis and searching symptoms online

Googling symptoms to self-diagnose is not the same as virtual health care, writes Taleen Lara Ashekian.

For subscribers

What is 'quiet quitting'? All about the new workplace trend critics say could hurt careers

Quiet quitting is taking over the internet, but while some have hopped on the bandwagon of doing the bare minimum, others say it could damage careers and companies.

Alonso questions Ferrari strategy after late pitstop cost Leclerc fifth in Belgium

Alpine driver Fernando Alonso said he had been surprised when Ferrari brought in Charles Leclerc for a pitstop to try and get the fastest lap at the Belgian Grand Prix.

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        Violence against women in Mexico rises to over 70%, study finds: Violence against women and girls in Mexico has increased over the last five years, the statistics office said in a survey that found seven in 10 of them reported experiencing some form of violence. Read more

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