A Gupta company “agreed to guarantee a very ambitious bond” that would be paid in instalments of almost R80000 over five years for Bongi Ngema-Zuma’s home‚ the City Press reported on Monday.
The paper quoted excerpts “from minutes of a board meeting held in Midrand on February 10 2010 in which JIC (Mining Services) clearly agreed to bankroll the purchase of the Waterkloof house by the First Lady’s trust”.
It said JIC is the trading name of Westdawn Investments‚ which is majority-owned by Oakbay Investments‚ the Gupta family’s private investment vehicle
The City Press said the Guptas spokesperson had previously denied that the family helped “Ngema-Zuma secure a R3.84-million home loan from the Bank of Baroda‚ an Indian state-owned banking and financial services company”.
It also noted that Ngema-Zuma once worked as JIC’s head of communications and marketing.
Report: Guptas helped bankroll Zuma’s wife’s Waterkloof home
A Gupta company “agreed to guarantee a very ambitious bond” that would be paid in instalments of almost R80000 over five years for Bongi Ngema-Zuma’s home‚ the City Press reported on Monday.
The paper quoted excerpts “from minutes of a board meeting held in Midrand on February 10 2010 in which JIC (Mining Services) clearly agreed to bankroll the purchase of the Waterkloof house by the First Lady’s trust”.
It said JIC is the trading name of Westdawn Investments‚ which is majority-owned by Oakbay Investments‚ the Gupta family’s private investment vehicle
The City Press said the Guptas spokesperson had previously denied that the family helped “Ngema-Zuma secure a R3.84-million home loan from the Bank of Baroda‚ an Indian state-owned banking and financial services company”.
It also noted that Ngema-Zuma once worked as JIC’s head of communications and marketing.