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Malema Exposed: New Book Reveals R21.6 Million Property Empire Hidden from Parliament
A fiery critic now in the spotlight
Julius Malema has built his political brand on attacking corruption and calling out the failures of South Africa’s ruling class. Yet a new book claims that behind the fiery rhetoric lies a personal fortune in bricks and mortar that Parliament never saw. According to investigative journalists Micah Reddy and Pauli van Wyk, the Economic Freedom Fighters (EFF) leader quietly controls a property empire worth at least R21.6 million.
Their book, Malema: Money. Power. Patronage, set for release on 19 September, does not present itself as a biography. Instead, it is an exposé of financial manoeuvring and political muscle, painting a picture of a man who has mastered the art of shielding assets from public scrutiny.
A hidden empire of homes and lodges
At the heart of the revelations are at least 10 properties tied to Malema through three family trusts and a private company. Beneficiaries include Malema, his wife Mantoa Matlala, and their children. While he disclosed his links to these trusts in Parliament, he never revealed the wealth they contained.
The book describes lavish renovations that push the portfolio far beyond its original R21.6 million price tag. These include a Johannesburg home demolished and rebuilt twice, a luxury lodge in Polokwane boasting imported fittings from Dubai, and a Limpopo smallholding complete with tennis and basketball courts. Six of the properties are said to be bonded, but control remains firmly within Malema’s family circle.
What Parliament saw
By contrast, Malema’s official parliamentary disclosures paint a very different picture. His register of interests shows no ownership of land or property. The only business interest listed is his directorship in Mgagao Shamba, a company dealing in farming, events, and sales.
His declarations under gifts and hospitality were strikingly modest: a bottle of wine and chocolates from the Chinese Embassy’s Liu Kaiyang, plus sheep worth R7,000 from BaPedi Queen Lenaganabatho II Manyaku Thulare. No loans, no sponsorships, and certainly no multimillion-rand mansions appear on the record.
Old scandals resurface
The book also reopens past controversies, including the role of VBS Mutual Bank, where funds allegedly flowed to both Malema and his former deputy Floyd Shivambu. Shivambu has since left the EFF, briefly joined the MK Party, and now leads the Afrika Mayibiye Movement. Forgotten scandals in Limpopo, where Malema and allies allegedly manipulated public systems for personal gain, are also revisited.
The authors argue that Malema’s trajectory reflects a broader pattern in South African politics. Leaders who rally against inequality often find ways to enrich themselves while the justice system struggles to hold them accountable.
A bigger story about power and money
For co-author Pauli van Wyk, Malema was the obvious subject. “He is vocal about others’ alleged corruption, from Jacob Zuma to the Guptas, while evidence of his own dealings keeps surfacing. He was the ideal politician to study,” she explained.
The book also makes the explosive claim that the EFF’s controversial rent-seeking practices in metros were tolerated by other parties, including Herman Mashaba’s ActionSA, in exchange for political backing. For the authors, this underscores how fragile South Africa’s democratic systems have become when watchdog institutions fail to act.
Silence from the EFF
At the time of publication, the EFF had not responded to questions about the revelations. National spokesperson Sinawo Thambo offered no comment despite being approached.
Why this matters
For supporters, Malema has long represented a voice against the corruption of the political elite. For critics, the new revelations will sound like confirmation that he is no different from those he attacks. Either way, the timing of the book ensures it will shape conversations around trust, accountability, and the future of radical politics in South Africa.
Also read: Ramaphosa’s Honesty Shakes the ANC: Is This the Beginning of the End?
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Source: IOL
Featured Image: Polity.org
