South African rand partially recoups losses, with focus on G20 meeting
Reuters / South African President Jacob Zuma delivers his State of the Nation address at Parliament in Cape Town, June 17, 2014.
South Africa’s President Jacob Zuma has paid for non-security upgrades to his private Nkandla home, the National Treasury said on Monday, in line with a court order issued in March.
“We can confirm as the National Treasury that the payment has been received,” a spokeswoman for the Treasury said.
In June, the Treasury said that Zuma should pay 7.8 million rand ($537,000) for the non-security upgrades, after the Constitutional Court in March ordered Zuma to pay back some of the $16 million of state money spent upgrading his private home.
($1 = 14.5300 rand)
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