President Jacob Zuma’s Nkandla saga has moved on from whether or not he will “pay back the money” – to how much he will pay back.
The president’s legal team conceded this week in the Constitutional Court that Zuma was bound by the Public Protector’s findings that he is liable to pay back a portion of the money that was spent on non-security related upgrades to his home.
Before the court proceedings, Zuma put forward a proposal where he agreed to pay back a portion of the money – an amount to be determined by the National Assembly and the SAPS.
In March 2015, the Democratic Alliance calculated that Zuma owed as much as R52.9 million for the upgrades to his home.
Some legal experts however, argued that the number could be as low as R10.5 million.
Taking the DA’s Nkandla bill above into account, BusinessTech looks at some properties that the president could have bought, instead.
At current rates, R53 million is about $3.3 million.
South African options
Locally, Zuma could purchase apartments on the marina at the V&A Waterfront in Cape Town, or even a wine farm in Franschoek – with change leftover.
But this R48 million property in Sandhurst is more fitting for a head of state. With 5 bedrooms and 5 bathrooms, this mansion is nestled in South Africa’s economic hub – and even has its own self-contained private guesthouse.
Los Angeles condominium
If city living is more in keeping with the president’s busy schedule, $3 million would secure a 3 bedroom luxury condo in Las Angeles, with views of the suburbs and the city below.
The USA has many options for dollar millionaires, ranging from a 4 bedroom, wooden getaway in the snowy reaches of Utah – to a massive 6 bedroom country estate in Arizona.
All for R5 million less than what Zuma allegedly owes.
Your own lighthouse
For a ‘mere’ $1.98 million dollars (far less than the $3.3 million budget), the president could own a lighthouse (complete with three cottages, totalling 9 bedrooms and 4 full bathrooms) in North Wales.
Point Lynas Lighthouse is set in 17 acres of headland, and sits on a rocky headland on the North coast of Anglesey, overlooking the Irish sea.
With an eye on retirement, the president may fancy a villa on the Aegean Sea. The Amos Villa in Mykonos is priced at $3.3 million.
The island home features 6 bedrooms, 6 bathrooms, and is a 10 minute walk away from the beach – closer than Nkandla is from the Indian ocean.
Your own private island Caribbean
The president may wish for more privacy in his retirement years – with this private island in the Bahamas for sale at $3 million.
Described as an “extremely rare offering”, Pelican Cay is a private island with 4 “postcard beaches”, a private deep water marina, an island home, municipal electricity – and it’s only a short 10 minute boat ride to services and amenities.
source: business tech