Zuma assets go for a song

2012-04-24 00:00

A MERE R158 000 was raised from the auction of Khulubuse Zuma’s assets yesterday towards the R10 million debt owed by Aurora to Protea Coin Security.

The assets of President Jacob Zuma’s nephew, which were seized to cover debts owed to the security company that guarded the now-liquidated gold mine he co-owned with a grandson of Nelson Mandela, were sold off at an auction at Verulam north of Durban.

Khulubuse Zuma is one of the directors of Aurora alongside Zondwa Mandela and Michael Hulley, President Zuma’s lawyer.

Aurora Empowerment Systems, which hit rock-bottom in a failed mining venture at Grootvlei, is accused of running two gold mines into the ground and causing more than 5 300 workers to lose their jobs.

Khulubuse Zuma’s 7-, 5- and 3-series BMW vehicles were auctioned off with household goods yesterday.

Said Waseem Moosa, a property developer from Verulam who bought the 7-series for R88 000: “I am very happy … This is my first car. I am happy that I will be driving Zuma’s car. It’s a full house 755i BMW. I will just do small touch-ups on it.” The luxury car has leather seats and is bullet-proof.

The 5-series fetched just R14 700 and the 3-series R15 500. An Anthem amplifier fetched R23 300 and a set of speakers R7 200. Four bar stools sold for R500.

While some serious buyers were bidding, others were tweeting and joking that Khulubuse had gone to the shops the day after his possessions were seized to buy new things as it was all just “old stuff” for him. The group bidders were keen to buy Zuma’s furniture and there was fierce competition.

“Getting a printer for R50 and a flat-screen TV that costs more than R15 000 in the shops for R2 500 here is like getting it for free,” said one buyer who asked not to be named.

Other goods to go under the hammer were electrical appliances and furniture. The total amount raised yesterday, including the cars, was R158 710.

Khulubuse failed to pay debts as ordered by a court in January and his creditors, Protea Coin Group Security Company, applied for his property to be seized at the North Gauteng High Court.

Protea is owed R10 million by Aurora. National Union of Mineworkers spokesperson Lesiba Seshoka said NUM welcomed the move.

“We welcome the development and hope that the money will be able to pay the workers what is due to them.”

Zuma did not answer his phone when called for comment.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/Sport

Book flights

Compare, Book, Fly

Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.