Kameraad Mhambi

Kameraad Mhambi just read the defence by Julius Malema (the ANC youth leagues president) statement that he is not a crook with interest.

A few observations.

Comrade Malema says that he financed his properties with a bond from a bank. For his 3,6 Million Sandown house (lets not take his 1 million Polokwane house into consideration for now) that would mean he needs to pay the bank R35,941 per month.

That means – if Comrade Malema pays all of his salary towards this one house – he earns at least R430,000 per year.

If we do count the Polokwane house the figure he would need to earn would come to at least R45,925 per month or R551,000 per year. Remember, that is if he spends nothing on anything else. This is of course highly unlikely.

Considering new credit legislation and the like, the maximum bond that somebody that earns R45,925 per month could get is R1,379,985. Bearly enough to cover his first house.

Even if Comrade Julius earned a generous R100,000 (R1,200,000 per year) from the ANC he would only be eligible for a R3,004,868 home loan. Not enough for his second home on its own. Could we safely assume them that Comrade Malema gets in excess of R150,000 per month from the ANC? That could let him get a loan for R4,507,302. Not quite enough to cover both his houses, and leaving nothing to live on, but I’m sure his friends helps him out?

President Zuma earns about R2,107,224 per year. Members of parliament gets R714,000 per year.

The chairperson of Anglo American gets a ‘basic’ salary of £900,000 (About R10,000,000) but her total pay and performance related package could be worth almost £4m. A teacher with about 5 year plus expereince could expect to earn about R140,000. The average income per person per year for South Africa is $2,751 or about R21,224.

One other observation.

The comrade claims he instructed his lawyers to ‘process’ his resignation from his companies when he became youth league president in 1998. I find it odd that he does not use the language that he did indeed resign. Is he still a director?

Bring on those life style audits.

Update: Watkykjy posted this bling video, saying:

Ou Julius Spendema in al sy glorie. 99 Problems but the bitch ain’t one. Meer soos 99 problems and being rich ain’t one. Hy fokken tender vir ene …

Comrade Malema would make Die Antwoord proud. Once!

Related deployments:

1. Comrade Malema has R53 million in his bank account?
2. Revolutionary house – music – with Comrade Malema
3. Malema gets security to remove this ‘thing’ (video)
4. Julius Malema is obsessed with whites
5. Julius Malema vs Deborah Patta – video interview