Former Health Minister Dr Zweli Mkhize said the Ithala Development Finance Corporation Bank loan granted to his wife Dr May Mkhize in 2006 was within the parameters of the law and was being serviced until 2026, reports Daily News.
Mkhize was responding to questions posed by the publication after he challenged the adverse Special Investigations Unit findings against him and his family in a tender contract awarded by the national Department of Health to Digital Vibes.
While Mkhize was Finance & Economic Development MEC in KZN 15 years ago, his wife was granted a loan from the state-owned Ithala Development Finance Corporation to the tune of R11.8m to finance a farm near Pietermaritzburg. Asked whether he had exerted political influence to secure the loan for his wife, Mkhize said the loan was taken out for the acquisition of the farm as well as its operational costs. “… to suggest that this process was not on merit is mischievous. The 20-year commercial loan of R11.7m is being serviced with interest as per the loan agreement with the bank until 2026. The current amount owing on the bond is R8m. I should also indicate that my wife has retired from active farming,” said Mkhize.
Ithala Bank spokesperson Sithandiwe Dimba said the bank was not at liberty to discuss matters relating to clients’ accounts and that this was in line with the requirements of the Protection of Personal Information Act.
Daily News article – Zweli Mkhize says wife’s Ithala loan was above board (Open access)
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