Business Acumen or Foul Play? - The Julius Malema Fortune Investigation

Unravelling the intricate tapestry of South African politician, Julius Malema's financial prowess. His business interests trace back to Segwalo Consulting Engineers CC, founded a decade ago by Lesiba Gwangwa. Subsequent exposure to possible facilitation of government contracts allegedly awarded Malema 10% commission on each deal.

However, Malema, 24 at the time and secretary of the ANC Youth League in Limpopo, refutes claims of receiving kickbacks. Under his facilitation, SGL Consulting Engineers, originally known as Segwalo, saw a substantial increase in municipal contracts, turning over hundreds of millions of rands and attributing this success to Malema.

Business ties expanded across Limpopo, with connections to numerous companies, leading him to amass a 70% stake in SGL by 2009. In the same year, he entered into a R200-million waste-management deal, via a shelf company, Blue Nightingale Trading 61. Despite allegations, Malema denies confirming receipt of consecutive payouts over the next five years.

His business ventures widened through diverse interests from health to mining, including participation in supply chains for state health facilities in Limpopo. Controversial investment vehicles like the Ratanang family trust, named after his son, drew attention due to his activities in property purchasing and flipping.

Malema's move to Johannesburg in 2009 and consequent purchase of a property in upmarket Sandown for R3.6-million saw him admitting to the assistance of "donors" in settling the balance.

The magnifying glass intensified on Malema's business dealings with the investigation into the alleged misuse of his trust as a "slush fund". This prompted auditors, PricewaterhouseCoopers, the public protector, and the Hawks and special investigation unit to probe into his affairs.

Now, questions loom over Malema's 19 business links to prominent business figures within the Limpopo circle. As investigations push forward, South Africa keeps a keen eye on the fate of the high-profile politician, awaiting to see if his business acumen withstands the legal scrutiny.