PICS: Top ANC man Danny Msiza and his R164m empire


*This article has been updated

While his political future seems uncertain, it does not appear as if former ANC Limpopo treasurer-general Danny Msiza will be losing any sleep over his future income.

Court documents filed on Tuesday have revealed that in 2016, Msiza and his wife, Mmabogoshi Bellah Msiza, claimed to be cumulatively worth a little more than R164m at the end of December that year.

Attached to court documents filed by Advocate Terry Motau SC on Tuesday is a statement of assets and liabilities for the couple, which was submitted to VBS in support of an application for a questionable R9.5m bond the bank granted the Msiza’s company, Mojovax, in early 2017.

Motau filed papers in response to a bid by Msiza to have parts of Motau’s report ‘The great bank heist’ deleted or expunged. The report gave a detailed account of the wide-scale looting and fraud totalling more than R2bn that led to the collapse of VBS.

Msiza filed an application with the Pretoria High Court in October this year.

Motau has now motivated and presented the evidence which led to him including Msiza in the report and in excruciating detail has set out how Msiza personally benefitted from the looting of VBS Mutual Bank.

This includes the multi-million rand bond for a 7 600 square metre property in central Polokwane and a little more than R1.5m in cash, also paid to Mojovax by politically connected middleman Kabelo Matsepe.

Matsepe’s company Moshate Investments received R27m from ‘slush fund’ accounts operated by VBS executives as commissions on investments made by Limpopo municipalities.

The court papers show that Msiza personally benefited from the VBS cash.

ALSO READ: Looted VBS cash paid for top ANC man’s R9.5m home - court papers

News24 previously reported that the property was a home, but has since verified that it is in fact a spa and conference centre on Grobler Street in central Polokwane. Msiza is the landlord of the property but does not own the spa.

polokwane spa
A Google Street view of the 7600 square metre Polokwane Spa in central Polokwane. The property the spa sits on is owned by ANC treasurer general Danny Msiza, bought with a questionable R9.5m bond from VBS Mutual Bank. Msiza does not own the spa.

The evidence provided to the courts show how repayments on the bond totaling R700 000 were made sporadically by Matsepe, and a further R1.3m from an unknown Standard Bank account.

Msiza resigned on Tuesday after receiving what News24 understands to be an instruction from a senior ANC leader to do so.

In his resignation letter Msiza emphasises that his decision to step aside is not an admission of guilt and reaffirmed his legal challenge of Motau’s report.

“My direct financial interface with the bank [VBS] is a legitimate commercial property loan (not a home loan) which I have prepaid until January 2019. The source of the funding is perfectly legitimate,” he added.

He also explained that over and above his position in the ANC he was “an entrepreneur with a broad corporate portfolio and consequently extensive relations in the corporate sector”.

ALSO READ: Top ANC man Danny Msiza linked to VBS scandal resigns

From the financial statement attached to Motau’s papers, it seems Mr Msiza has built a considerable fortune from his entrepreneurial ventures – well before he accepted handouts from VBS.  

Property mogul

The 'financial statement' of the Msiza couple was signed off by CJ Accountants, also based in Polokwane, with one very important caveat: "The financial statements were prepared from information and explanations provided by Mr M D Msiza. No audit was done."

This is key – the accountants did not actually verify if any of the assets listed by Mr Msiza did exist or in fact belong to him, but simply drafted the statement based on what Msiza claimed.

scott estate

A view of Sentinel from a home near that of Danny Msiza inside the Scott Estate in Hout Bay which is currently on sale for R13m, the same price range as Msiza’s home in the same estate.  (Photo -

Msiza is somewhat of a property mogul, owning various properties in Polokwane worth more than R60m.

All told his property portfolio (held through various companies) amounts to nearly R100m.

According to the financial statement, Mojovax owned R34.9m in worth of property in 2016. Since then, the R9.5m Polokwane central property was purchased through VBS and assuming he has not sold off any of his property, that will bump up Mojovax’s asset base to R44m.

These properties include a R13m home in the upmarket Scott Estate in Hout Bay and a portion of Hollandsdrift farm, 25km south of Polokwane worth R16.5m.

Msiza, through Mojovax, owns portion 19 of Hollandsdrift, a 214 hectare piece of land which borders on the Kuschke Nature Reserve.

Google Earth

A Google Earth view of the development on former ANC Limpopo treasurer general Danny Msiza’s  214 hectare portion of Hollandsdrift farm, which he claims is worth R16.5m.

Msiza further owns Ingwe Ranch (valued at R7m) and Limpopo Guest Manor, a four star lodge situated in Polokwane central worth an estimated R15m.

The remainder of his properties are various homes in Polokwane, one a R9.5m pad in Cycad Estate. He also owns office buildings in Centurion and Polokwane as well as a R6.5m home in Irene, Pretoria.

Property records show that some of these purchases were made between 2012 and 2017.

Rich man, poor man

The remainder of Msiza’s wealth stems from shares he holds in Nkulunge, which holds BEE shareholding in Cell C. This is valued at R7.5m.

He also holds a stake in Marula Platinum – part of the Implats stable, worth R12.8m. Marula Platinum mine is situated in Limpopo.

Msiza listed a projected profit of R41m from his Karibu Group, which is involved in insurance and construction.

He also lists a projected profit of R12m from a company named DW Projects North West, of which little information was immediately available.

Perhaps Msiza’s crowning jewel? A BMW 525 which he valued at a modest R250 000.

limpopo guest house
A view of the luxury four-star Limpopo Guest Manor in central Polokwane, valued at R15m and owned by former ANC Limpopo treasurer general, Danny Msiza. (Photo -

*Correction: A previous version of this article stated that it was believed that Mr Msiza owned the Protea Hotel by Marriot Polokwane Ranch Resort. The resort is located on a different section of Hollandsdrift farm and it is not owned by Mr Msiza. The article was updated and the information surrounding the Polokwane Ranch Resort deleted and replaced with the correct information pertaining to the portion of Hollandsdrift which Mr Msiza does indeed own. The error is regretted and the author apologises for any inconvenience caused to the owners of the resort or Mr Msiza.

*Do you have a tip for our investigative journalists? Send an email to

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Lockdown For
Voting Booth
With Faf de Klerk out injured, who should start at scrumhalf for the Springboks against Wales on 6 November?
Please select an option Oops! Something went wrong, please try again later.
Herschel Jantjies
33% - 346 votes
Cobus Reinach
64% - 670 votes
Grant Williams
3% - 31 votes
Rand - Dollar
Rand - Pound
Rand - Euro
Rand - Aus dollar
Rand - Yen
Brent Crude
Top 40
All Share
Resource 10
Industrial 25
Financial 15
All JSE data delayed by at least 15 minutes Iress logo
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.