Johannesburg - President Jacob Zuma has ended speculation about where he got the money to pay back the upgrades at his home in Nkandla, KwaZulu-Natal.
Zuma said on Monday he had taken a home loan from VBS Mutual Bank to cover the R7.8 million.
The little-known bank has four branches in the country, with one in Joburg and others in Sibasa, Thohoyandou and Makhado in Limpopo.
Its major shareholders are the Public Investment Corporation, which has a 25.26 percent stake, and Dyambeu Investments, with a stake of 25.22 percent.
It was reported in July that Zuma was in talks with the bank to discuss the issue of the home loan.
The chairperson of the board of the bank, Tshifhiwa Matodzi, could not be reached for comment on Monday.
The payment of the Nkandla money by Zuma, through the home loan, is in line with the directive of the Constitutional Court early this year.
ANC secretary-general Gwede Mantashe had issued a strong instruction to party members not to help Zuma pay back the money because that would be in violation of the court order.
Mantashe had insisted Zuma was required to pay out of his own pocket.
This was in response to offers by Zuma's allies in North West, KwaZulu-Natal and Mpumalanga to pay the money on his behalf.
They said that if he was not in a position to do it himself they would cover the full cost as determined by the National Treasury.
Zuma has, however, respected the finding of the top court in the land that he must pay the money himself.
However, parties in Parliament wanted full documents about how the home loan had been secured and how he would service that loan.
Zuma could face questions in the National Assembly on Tuesday on the matter.
The president will be in the House to answer oral questions on the state of the economy.
Zuma’s spokesperson Bongani Ngqulunga confirmed that the money had come from VBS Mutual Bank.
The funding of Zuma’s Nkandla house has been a source of concern - some in the ANC have helped him in the past.
Durban businessman Vivian Reddy, a Zuma ally, has publicly admitted that he has helped Zuma upgrade his Nkandla house since the mid-1990s to the tune of R4m.
Zuma has admitted that his house has been under construction for many years.
Zuma is also known to have other funders in the KZN area.
Political Bureau