Keypoints:
- Six-year probe reveals Malema’s hidden wealth
- VBS Bank loot and Limpopo scandals detailed
- Authors warn of politics–money corruption loop
A HARD-HITTING new book, ‘Malema: Money. Power. Patronage.’, will be released on September 19, uncovering the secretive financial web of South Africa’s Economic Freedom Fighters (EFF) leader Julius Malema.
Investigative journalists Micah Reddy and Pauli van Wyk insist their work is no biography but a forensic look at Malema’s finances. They say the book tracks how he built a private financial empire and refined ways to stay beyond the reach of the justice system.
‘It also tells a bigger story: how money courses through South African politics and how self-styled radical leaders exploit genuine anger over inequality to enrich themselves,’ the authors write.
Scandals from Limpopo to VBS
The book revisits long-buried scandals in Limpopo, exposing how Malema and allies allegedly bent local systems for personal gain. It also traces funds looted from VBS Bank into the hands of Malema and his deputy, Floyd Shivambu.
Reddy first investigated corruption in Johannesburg and Tshwane metros, while Van Wyk probed the collapse of VBS Bank and the turmoil at the South African Revenue Service. Their separate inquiries converged as new sources emerged, creating a fuller picture of Malema’s financial dealings.
Hidden court files and political pushback
Reddy and Van Wyk recount obstacles in accessing public records. Court files from Malema’s 2012 tax dispute with SARS were sealed in a Pretoria High Court section usually reserved for sensitive cases like child abuse. They eventually hired an attorney to unlock the documents.
The pair faced political resistance too. Malema barred them from EFF press conferences and labelled Van Wyk ‘Satan’ and a ‘witch’, language that sparked threats from supporters. Both Malema and Shivambu threatened lawsuits but never proceeded.
A warning on democracy
Van Wyk told news outlet Independent Media Lifestyle that Malema remains ‘possibly South Africa’s most interesting and talented politician’, yet no contemporary book has offered such insight. She said their six-year investigation shows how politicians exploit public grievances while evading accountability.
‘The EFF’s rent-seeking in the metros was tolerated by parties like Herman Mashaba’s ActionSA in exchange for political support,’ Van Wyk said, warning that such impunity endangers South Africa’s democracy.
The authors hope readers see their book as a metaphor for the dangerous dance between wealth and political power. ‘It reveals the hidden mechanisms by which politicians exploit inequalities for personal gain and emphasises the need for vigilance in holding leaders accountable,’ Van Wyk added.
