Julius Malema's hidden financial secrets exposed in a new book on his political influence

A new book, “Malema: Money. Power. Patronage.”, is set to be published on September 19.

It exposes the financial dealings of Julius Malema, one of South Africa’s most controversial political figures.

Investigative journalists Micah Reddy and Pauli van Wyk stress that the book is not a biography, but an account of his money.

“Malema: Money. Power. Patronage.” traces how Malema built a financial fiefdom and exposes the methods he used to shield his operations from scrutiny.

“This book shows how, over the years, Malema has refined his modus operandi, making it difficult for the justice system to hold him accountable,” Reddy and Van Wyk wrote.

“It also tells a bigger story: about the insidious ways money courses through South African politics and how self-styled radical leaders exploit valid grievances about inequality to enrich themselves, stealing from the very people they claim to fight for.”

In the book, Reddy and Van Wyk uncover long-forgotten scandals in Limpopo, where Malema and his associates manipulated systems for personal gain. The book also details how loot from VBS Bank ended up in the hands of Malema and his deputy, Floyd Shivambu.

“But it also tells a bigger story: about the insidious ways in which money courses through South African politics and how self-styled radical leaders exploit valid grievances about inequality to enrich themselves, stealing from the very people they claim to fight for,” they highlighted.

Van Wyk told “Independent Media Lifestyle" that the investigation began independently on separate tracks, only converging later. 

“Julius Malema is possibly South Africa’s most interesting and talented politician. Yet, there is no contemporary book that offers insight into his character and life. About six years ago, we both began investigating him from different angles and working for different news agencies without knowing the other was doing the same.”

Reddy initially investigated corruption in the Johannesburg and Tshwane metros, uncovering the hidden hand of the EFF.

Van Wyk, meanwhile, probed the collapse of VBS Bank and the destruction at SARS. Their work revealed intersections between Malema, Shivambu and the EFF.

“Over time, as we published, more sources came forward with additional evidence. We realised we had different pieces of the same puzzle and joined forces to examine Malema’s lifestyle and history for this book,” Van Wyk said.

The authors faced obstacles accessing public records. Court documents from Malema’s 2012 legal battle with SARS were locked away in Pretoria’s High Court in a section reserved for sensitive cases such as child rape and pornography.

Attorneys usually have to apply to have cases kept confidential, but a loophole had shielded Malema’s dealings and benefactors from scrutiny for years. The authors eventually appointed an attorney to access the files.

The book highlights systemic problems in South African politics. Politicians and their associates frequently exploit public grievances for personal gain, often evading accountability.

“Malema exemplifies a particular brand of politics and corruption in South Africa,” Van Wyk explained.

“He is vocal about others’ alleged corruption, from Jacob Zuma to the Gupta family, while evidence of his own dealings kept surfacing. He was the ideal politician to study because his activities intersected with so many different cases of corruption,” she noted.

“The book shows how politicians and their cronies not only dupe the public, but also each other; that the EFF’s rent-seeking in the metros were tolerated by politicians like Herman Mashaba in exchange for political support and; how the justice cluster and Parliament fails to hold corrupt entrepreneurs and politicians to account, posing a major risk to our democracy.”

The authors faced significant pushback during the six-year investigation. Malema barred them from attending EFF press conferences and refused to answer questions.

He referred to Van Wyk as Satan and a witch, coded language that incited threats from supporters. Both Malema and Shivambu threatened legal action at one point but never followed through.

“Writing this book was a tricky business,” Van Wyk said. “We encountered resistance from political actors and the courts, but we persisted.”

Reddy and Van Wyk hope readers take away a deeper understanding of how wealth, power and politics intersect in SA.

“The book is about Julius Malema and his money, but it is also a metaphor for the interplay between power and wealth and its threat to our democracy,” Van Wyk said.

“It reveals the hidden mechanisms by which politicians exploit inequalities for personal gain and emphasises the need for vigilance in holding leaders accountable.”