Julius Malema’s farm fetches R2.5-million on Auction

The 140-hectare cabbage and tomato farm belonging to former ANC Youth League president Julius Malema, was sold for R2.5 million at the auction on Monday, although it is actually worth about R4 million.

The farm located in Schuilkraal, Limpopo, 12 km north of Polokwane was seized by the Asset Forfeiture Unit (AFU) on March 19 after the SA Revenue Services approached the court to demand R16 million in taxes which the firebrand politician owed at the time.

Earlier last week, in an uncharacteristic move, the once proud and boastful ANC Youth League leader wrote to Richard Masoanganye, the curator of his R4 million Schuilkraal farm, pleading with him to postpone the auction of the farm.

But the last ditch attempt by the former politician fell on deaf ears.

Masoanganye rejected Malema’s pleas to stop the auction and said the sale of the farm would still continue.

The farm was auctioned by Park Village Auctions and sold on Monday for R2.5 million, even though it is actually worth about R4 million.

According to the CEO of Park Village Auction, Roy Lazarus the farm boasts a four bedroom house with an open plan lounge and dining room, kitchen, scullery, study nook and family bathroom.

“There is also a rondavel, store room, workshop, swimming pool, three boreholes, a cement dam, irrigation for one hectare of tiled land and cattle loading facility,” he said.

“The main house is fitted with burglar bars,” added Lazarus.

The farm was bought by Vencor Holdings and the company says it will be used for farming purposes.

Last month Malema's half-built mansion in Sandown, Sandton was sold for R5.9 million on auction. The winning bidder for the house was local businessman Norman Tloubatla.

This now puts his efforts to raise the R16 million owed to the South African Recenue Services at R8.4 million, a little over half of what is ecxpected.

The farm was owned by a company known as Gwama Properties whose director Lesiba Gwangwa is Malema’s co-accused in the multi million rand money laundering and money racketeering trial.

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