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Malema won't oppose sequestration

Sars has confirmed that Julius Malema will not oppose a sequestration application against him.

Economic Freedom Fighters (EFF) leader Julius Malema holds a news conference in Johannesburg on Thursday, 1 August 2013 on the outcomes of their recent national assembly. Picture: Werner Beukes/SAPA

PRETORIA - The South African Revenue Service (Sars) has confirmed the sequestration application against Julius Malema is going ahead unopposed.

The former ANC Youth League leader, now head of the newly-formed Economic Freedom Fighters (EFF), will be declared incapable of administering his own financial affairs.

The court order will legally prevent him from holding public office or opening a bank account.

Sars's Adrian Lackay says the period to oppose the application has lapsed and Malema is still in the red.

"We have attained preservation orders, a curator was appointed, assets were disposed of through public auction, but there is still a significant amount owing in taxes."

Lackay says the sequestration will protect future creditors.

"There's no ability that you can administer your financial affairs in a responsible and appropriate way so that your expenses can be covered by the income stream."

The matter will be in court next month.

RETURN TO POLITICAL ARENA

After a lengthy absence from the South African political arena, expelled ANC Youth League Julius Malema leader announced the official formation of the EFF in July.

Malema said the party will fight for nationalisation of mines and land reform without compensation.

The controversial politician said while these policies may result in sanctions and a situation similar to Zimbabwe's, he claimed South Africans were ready.

Around two weeks ago, the party confirmed it will officially register as a political party and contest the 2014 general elections during its national assembly in Soweto.

During the two-day assembly, the party also adopted its first founding manifesto and constitution.

Sindane said the EFF will provide South Africans with an alternative.

"[We are] the radical, militant and revolutionary alternative movement which will ensure that the black majorities in this country actually realise their goals and mission of attaining economic freedom in our lifetime."

He said the National Assembly agreed to adopt the nationalisation of mines, banks and other strategic sectors as the party's central policies.