MADIBA’S millions: who gets what?

By Qhama Dayile
25 May 2016

According to documents lodged with the Master of the High Court in Johannes­burg – where they were kept for inspection by creditors and interested parties for 21 days in line with the law – R34 million of Madiba’s assets will be distributed during the first phase.

By Aphiwe Boyce and Brenda Sekgotla

Picture: Papi Morake

Two years after the late Nelson Mandela’s will was made public, his assets are almost ready for distribution. We look at how his multi-million-rand estate will be split

THE FIRST portion of assets worth millions belonging to former president Nelson Mandela is almost ready for distribution to the struggle icon’s heirs – two years after his will was first made public.

The executors of Madiba’s estate are his friend Advocate George Bizos, Deputy Chief Justice Dikgang Moseneke and Eastern Cape High Court Judge President Themba Sangoni.

They reveal in the documents that the assets being distributed exclude the 96,8-hectare property in the Mthatha area valued at R7,2 million as it is the subject of a lawsuit – this presumably refers to the failed court attempt by Madiba’s

ex-wife Winnie Madikizela-Mandela to gain ownership of the farm situated along the N2 freeway in the village of Qunu.

“The household contents, antiques and fine art”, books as well as “86 head of cattle” would also be dealt with once the litigation is over, the documents state.

It’s not clear though how long this process will drag out as Madikizela-Mandela’s lawyers have indicated that they would appeal the Mthatha High Court ruling, which dismissed her claim last month.

Madiba’s will, first read publicly in February 2014, bequeathed the Qunu farm and its movable goods to the Nelson Rolihlahla Mandela Family Trust “for the benefit of the Mandela family

and my third wife [Graça Machel] and her two children”.

The documents also reveal for the first time the value of the five properties the couple, who were married in community of property in 1998, own in the Mozambican capital Maputo and the province of Gaza. They include a house worth R58 million in Maputo and a property worth

R3,8 million in Gaza, which are registered in Machel’s name.

The documents put Machel’s total share of the nearly-R122 million estate at R60,9 million.

BUT THESE properties have been excluded from the current liquidation and distribution account because they are outside the borders of South Africa.

“The executors are in the process of verifying their authority to deal with the relevant Mozambican authorities, and will discuss further with the Master on the inclusion or otherwise of these properties in the liquidation and distri­bution account,” the document reads.

The value of the couple’s household contents, antiques, fine art and vehicles came to just over R2 million.

Meanwhile, Mandela’s heirs look set to get exactly what the late elderly states­man stipulated in his final will and testament.

This includes the following cash sums for his grandchildren:

R3,1 million to be held in a trust for Mandla Mandela;

R3,1 million in a trust for Ndaba Mandela;

R3,1 million in cash for Mbuso Mandela;

R3,1 million in cash for Andile Mandela;

R100 000 each for some of his grandchildren and great-grandchildren.

The will also allocates R3,1 million in cash each to Graça’s children, Josina and Malengani Machel.

Joburg-based family law expert Nthabiseng Monareng explains the process that

will follow after the 21-day inspection.

“The inspection is for people to come make sure the estate is run accordingly and that if there is a claim, it is included. After the creditors have been paid out and the Master and the executors’ fees have been paid out, then the process of distributing the inheritance will start,” she says.

“In an estate, if people are disputing anything, that freezes everything. The Master then needs to make sure no one is being cheated out of anything.”

However, the documents show claims against the estate do not amount to much compared to the heirs’ inheritance.

Meanwhile, when asked for comment about the distribution of Madiba’s estate, Madikizela-Mandela’s attorney, Mvuzo Notyesi, says: “We are not going to block the distribution. Yes, we have filed a notice of appeal. This will be heard on 19 July 2016.” ?

Published on the Drum issue of 19 May 2016 Published on the Drum issue of 19 May 2016

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