Court authorises sale of five MaMkhize properties worth 35 million rand
By the AFREEQUE newsroom, based on IOL
The Durban High Court authorises the sale of five properties linked to South African businesswoman Shauwn “MaMkhize” Mkhize, valued at 35 million rand. The proceeds must remain in a trust account until another proceeding rules on the South African tax authority’s right to seize the properties, according to IOL.
The Durban High Court authorised the sale of five properties linked to South African businesswoman Shauwn “MaMkhize” Mkhize, valued at 35 million rand, IOL reports. Judge Jacqueline Henriques ordered that the sale proceeds be held in a trust account until another proceeding determines whether the South African Revenue Service, SARS, can seize the properties.
The properties, located next to one another in Sandown, Johannesburg, form a single complex. Their forced-sale value is estimated at 24.5 million rand. SARS was paying 188,261.90 rand a month for their private security and 97,922.30 rand every six months for insurance. Municipal service arrears had reached 1.79 million rand.
The judge rejected objections from Mkhize and her son, Andile Mpisane, who challenged, among other things, the urgency of the application and claimed that the sale would deprive them of their main residence. She found that the deterioration of the properties, maintenance costs, and security and insurance expenses justified an urgent decision. An assessor had noted moisture-related damage and poor maintenance; the City of Johannesburg had also found unauthorised construction work on four properties.
The decision follows the properties being placed under sequestration in November 2024, a measure intended to preserve them during the proceedings. SARS is seeking the right to seize them to recover money owed to the tax authorities.
