A Look at Economic Freedom Fighters’ President Julius Malema’s R21.6 Million Property Portfolio

• The Economic Freedom Fighters president, Julius Malema's property portfolio is worth over R21 million
• Malema allegedly benefited from fraudulent tenders, illegal schemes, and slush funds, which helped him grow his property portfolio
• South Africans discussed the allegations, and while others believed them, some pined that the allegations were a smear campaign

Tebogo Mokwena, Briefly News’ Deputy Head of Current Affairs, based in Johannesburg, South Africa, has covered policy changes, cabinet reshuffles, the State of the Nation Address, parliamentary proceedings, and politician-related news, as well as elections, at Daily Sun and Vutivi Business News for over seven years.

JOHANNESBURG — The Economic Freedom Fighters' president Julius Malema's property, which is worth millions, is in the spotlight, and South Africans discussed how the firebrand leader of the Red Berets allegedly amassed a portfolio with more than three luxurious properties.

According to News24, Malema: Money. Power. Patronage, a book co-authored by journalists Pauli van Wyk and Micah Reddy, details how Malema reportedly accumulated at least 10 properties worth R21.6 million spread across Gauteng and his home province of Limpopo. Dodgy tender deals, kickbacks, and illegal schemes allegedly funded Malema's veritable empire of property. This includes a smallholding in Palmietfonten in Limpopo, a multi-story house in Johannesburg, and a luxury lodge in Polokwane.

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How did Malema amass his wealth?

The book details how Malema, through his company On-Point Engineering, allegedly received government contracts in Limpopo in 2009. The Ratanang Family Trust, named after his first son, reportedly received more than R28 million in kickbacks from business deals between entrepreneurs and the government between 2015 and 2012.

Malema also allegedly owns Mekete Lodge, a luxurious lodge located in Polokwane with event halls, a restaurant, and high-end accommodation. He was eventually charged with racketeering, corruption, and fraud, and the case was dismissed in 2015.

Malema's legal troubles

However, Malema has had brushes with the taxman. Malema reportedly owed the South African Revenue Service (SARS) R32.9 million in unpaid taxes and penalties, which resulted in a court battle with Malema. Malema reportedly settled, but the amount he paid is not known.

Malema was also implicated in the looting of the defunct VBS Mutual Bank alongside the EFF's former deputy president Floyd Shivambu. In July 2024, the bank's convicted chairman, Matodzi Tshilidzi, signed an affidavit alleging that the bank donated R5 million to the EFF after the party made negative remarks about the bank in the press.

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Lobby group AfriForum opened against Malema in the same month. Its CEO, Kallie Kriel, said that the charges against him warranted an investigation under the Prevention of Organised Crime Act.

What did South Africans say?

Netizens commenting on X had different views.

Those who disagreed

Long live Supa Mega said:

"EFF is the only political party fighting for natives to have their land returned to them. They will do anything to discredit it, so nothing changes."

Keep Going said:

"Calculated scrutiny? Often, the media zeroes in on opposition leaders around elections or big debates. The focus shifts from their message to credibility, rarely accidental."

Mike Nagivator Nzweni said:

"Juluus, you are our example that a black child can live his dream."

Those who slammed him

Kelebogile Modise said:

"Not shocking because we know how he operates."

Lacoste 30 RSA said:

"And his supporters are on R370 per month grants. They are waiting for the land, mines, and banks that he promised them since 2014. I will never be that stupid."

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Lonn said:

"Julius has been hustling the EFF's members for years now."

Julius Malema slams Operation Dudula

In a related article, Briefly News reported that Malema called for the Political Killings Task Team to investigate Operation Dudula. He slammed the organisation and called for a crackdown on it.

Malema referred to the organisation as a group of thugs. His tweet sparked debate on social media, as some criticised his stance.

Source: Briefly News