Paul Mashatile questioned over how he affords Constantia mansion
The numbers aren’t adding up: Deputy President Paul Mashatile’s bond repayments on his R65 million properties would significantly surpass his salary.
Former COSATU general secretary Zwelinzima Vavi, like many South Africans, has questioned how Deputy President Paul Mashatile manages to afford three properties valued at about R65 million.
This week, the 64-year-old confirmed ownership of a R28 million villa in Constantia, following years of speculation. He also owns homes in Midrand and Kelvin, Johannesburg.
ZWELINZIMA VAVI QUESTIONS PAUL MASHATILE MANSION AFFORDABILITY
In a post on X, Zwelinzima Vavi shared his calculations, questioning how Paul Mashatile could afford even one of his properties — the R28 million Constantia Upper villa.
He pointed out that Mashatile earns approximately R3.2 million per year from his salary as Deputy President.
Vavi posted: “Estimated monthly take-home pay: R 161,200. Monthly bond repayments range from R 248,000 to R 280,000, significantly exceeding his take-home pay.”
He added: “No bank will approve the loan based on the government salary. So there has to be another income from elsewhere”.
MORTGAGE, RATES, AND UPKEEP
According to luxury real estate agent Gary Phelps, Paul Mashatile’s home comes with a hefty upkeep.
Speaking to eNCA, he stated that this included rates and taxes up to R40 000 a month, excluding essential maintenance services. A mortgage would cost at least a quarter of a million rand a month.
“You’ve got to earn about R1.2 million a month to qualify to buy this house,” Phelps added.
Mashatile also owns a R39 million mansion in Waterfall in Midrand, and another in Kelvin, Johannesburg.
FAMILY BUSINESSES, CORRUPTION, AND NEPOTISM
According to an official financial interests report, Paul Mashatile had no other assets or businesses to declare, barring a pension fund and an Old Mutual investment trust.
Mashatile has repeatedly denied any direct ownership of his Cape Town and Johannesburg homes.
The Deputy President previously stated that the Constantia villa had been acquired via his son-in-law, Nceba Nonkwelo, who is married to his daughter, Palesa. He also claimed that his Waterfall estate had been“purchased jointly by his sons and son-in-law – who is reportedly under investigation by the Hawks – through a normal bank loan” and is “used as a family residence due to its enhanced security.”
Mashatile’s spokesperson, Keith Khosa, also denied allegations that Mashatile’s sons Thabiso and Tinyiko were linked to multi-million rand government tenders acquired through departments he previously managed.
Last year, the DA laid criminal charges against Paul Mashatile on allegations of corruption, nepotism, and patronage, claiming that the Deputy President was the ultimate beneficiary.