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Shaik said he gave the money to help the children with “no pressure whatsoever from the president”.
The funding was “so that he [Zuma] would not have this financial burden. So that he could focus on the issues at hand,” Shaik was quoted as saying.
Shaik was found guilty of two counts of corruption and one of fraud in 2005 for alleged irregular financial dealings with Zuma, who was deputy president at the time.
In January, The Sunday Independent reported that Shaik wanted a presidential pardon and the repayment of R2 million he claimed was outstanding on loans to Zuma.
An amount of R2.5m had been loaned to Zuma, and was primarily used for his children’s upkeep and educational needs.
Only R500,000 had reportedly been repaid.
The Mail&Guardian reported that Shaik had denied benefiting from his relationship with Zuma, and had said he had unsuccessfully tendered for several projects in KwaZulu-Natal while Zuma was the MEC for economic development.