Malema's farm auctioned for R2.5m

Julius Malema’s Limpopo farm now has a new owner after it was auctioned to pay his tax bill.

Julius Malema. Picture: EWN

JOHANNESBURG - Julius Malema's cabbage and tomato farm has been auctioned off for R2.5 million.

Johannes Callids outbid 16 others on Monday to become the new owner of the former ANC Youth League leader's farm in Limpopo.

The land is estimated to be worth R4 million, but was only sold at about half the price to settle Malema's tax debt which was initially estimated at R16 million.

The farm was seized by the Assets and Forfeiture Unit earlier this year.

Auctioneer Roy Lazarus said, "The auction was very well attended and there were a few of Julius Malema's friends, we believe, but they didn't bid. I would say 95 percent were from Limpopo and there were two bidders who were interested from other parts of the country."

In May, Malema's Sandton house was auctioned for R5.9 million. The new owner is businessman Norman Tloubatla, chief executive of Magnified Signs.