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ANCYL lashes out at Zuma critics after he #PaidBackTheMoney

The ANCYL has accused opposition parties of starting a campaign to ruin the VBS bank financially.

FILE: President Jacob Zuma. Picture: Thomas Holder/EWN.

JOHANNESBURG - The African National Congress Youth League (ANCYL) has lashed out at critics of President Jacob Zuma for allegedly casting aspersions over little-known VBS Mutual Bank for giving him a R7.8 million loan.

Both the Presidency and the Treasury confirmed yesterday that the president had adhered to the Constitutional Court order and settled his debt for non-security upgrades to his Nkandla house.

In March, the court found that the president failed to uphold, defend and respect the Constitution after he ignored the Public Protector's recommendations that he pay back some of the money for the upgrades to his home.

The ANCYL's Mlondi Mkhize says they're pleased that President Zuma has adhered to the Constitutional Court ruling, which it believes has put the Nkandla matter to rest.

But he says certain quarters of the public, particularly those advancing so-called white monopoly capital have cast aspersions over the lender - VBS Mutual Bank.

Mkhize says the league is also not surprised at the reaction from opposition parties, accusing them of starting a campaign to ruin the bank financially.

The Democratic Alliance, Economic Freedom Fighters and Congress of the People have all called on Zuma to provide the National Assembly with proof that it has indeed secured the loan, as well as the conditions of repayment.

LISTEN: How to qualify for a R7.8 million loan.

Meanwhile, the ANC Women's League (ANCWL) has lauded President Zuma for using a black-owned bank to repay the money used on non-security features at his Nkandla home.

The women's league says a decision by the president to use a wholly black-owned retail bank is humbling.

In a statement, the ANCWL says, "The ANCWL applauds the decision of the President to use wholly black-owned specialist corporate finance and retail bank which is registered with and regulated by the SARB."

Slamming critics, the league insists that the matter can now be put to rest.

"Whilst detractors claim to be the paragon of respect to the Constitution they have no political program except attacking President Zuma and will still be clinching on Nkandla matter. It is our conviction, as the ANCWL, that the matter has been laid to rest."

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