Julius Malema Exposé: New Book Reveals Hidden Wealth, VBS Links and Political Patronage

A powerful new investigative book, Malema: Money. Power. Patronage, by journalists Pauli van Wyk and Micah Reddy, has revealed fresh details about Economic Freedom Fighters (EFF) leader Julius Malema’s alleged hidden financial networks, undeclared income, and political patronage system.

The exposé shows how Malema allegedly built a property empire initially worth R21.6 million, which doubled in value through renovations funded by questionable schemes dating back to his African National Congress Youth League (ANCYL) days. Despite this, Malema’s 2025 parliamentary declarations list only modest assets—raising serious questions about transparency.

Alleged VBS Bank Connections

The book provides detailed evidence linking Malema and senior EFF figures to the collapsed VBS Mutual Bank scandal. According to the authors, financial flows from the looted bank were used to fund both party activities and personal expenses.

The VBS scandal devastated rural municipalities and communities who had invested their savings, making the alleged political connections especially controversial.

Property and Tender Scandals

Beyond the VBS links, the book revisits Limpopo provincial government tenders allegedly tied to Malema’s associates during his ANCYL presidency. These contracts reportedly provided significant financial benefits, illustrating patterns of patronage that the authors argue continued even after Malema formed the EFF in 2013.

Patronage and Party Funding

The book also maps out a sophisticated patronage system that allegedly fueled both Malema’s personal wealth and the EFF’s rapid growth. The investigation highlights how political influence was monetized through business networks and how these funds sustained expensive campaigns.

This raises questions about the party’s financial management, especially under South Africa’s new political funding transparency laws.

Public and Political Impact

The revelations land at a sensitive time, ahead of the 2026 elections, and challenge the EFF’s positioning as an anti-corruption voice. Social media responses are divided—critics see the exposé as confirmation of long-standing suspicions, while supporters dismiss it as racially motivated or politically timed.

Response from Malema and the EFF

As of publication, neither Malema nor the EFF leadership have offered a detailed response. Historically, the party has denied corruption allegations and countered with claims of political targeting, and observers expect a similar response here.

Why It Matters

The authors argue that Malema’s financial dealings mirror broader corruption patterns in South African politics, where influence and public resources have often been used for personal enrichment. Analysts warn that the credibility of opposition parties is undermined if they fall into the same practices they criticize.

Conclusion

The book represents one of the most comprehensive examinations of Julius Malema’s financial and political networks to date. Whether it prompts official investigations remains to be seen, but its findings will intensify debates about accountability, corruption, and transparency in South African politics.

With the 2026 elections approaching, the allegations could reshape both public perceptions of Malema and the EFF’s role in the political landscape.