Tembisa Hospital’s R2bn Looting Probe Claims an R11m Ferrari
JOHANNESBURG – A Ferrari SF90 Stradale bought for more than R11.1 million and preserved as part of the investigation into the alleged looting of approximately R2 billion from Tembisa Hospital can now be sold after the Special Tribunal ruled that keeping the luxury vehicle was continuing to cost money while its value remained uncertain.
The Ferrari belongs to the MHR Maumela Family Trust and is among several luxury vehicles preserved by a Special Tribunal order in September 2025 as the Special Investigating Unit (SIU) pursues its investigation into alleged corruption and maladministration at Tembisa Hospital.
Special Tribunal President Judge Bernard Makgabo Ngoepe has now authorised curator Jacobus Gideon Louw Van Wyk to sell the Ferrari for no less than R9.5 million, with the proceeds required to be deposited into a special interest-bearing trust account.
The Ferrari was originally purchased for R11,126,662.22 in April 2022, but two subsequent valuations placed its value at approximately R10.2 million and R10.165 million. Ferrari South Africa, where the vehicle is currently being stored, offered R9.5 million for it, while two other firm offers presented by the opposing respondents were for R10 million and R10,999,995 respectively.
At the centre of the application was an unusual question for an investigation into alleged public-sector corruption: whether preserving an exotic supercar could eventually cost more than selling it.
Keeping the Ferrari comes with R5,000 in monthly storage costs and insurance premiums of R8,333.33 per month. There are also substantial additional expenses, including R104,857 for battery replacement and an estimated R408,000 associated with warranty reinstatement and factory-related requirements.
The sale application was opposed by what the SIU refers to as the “Maumela Syndicate”, including the MHR Maumela Family Trust and Hangwani Morgan Maumela. The respondents argued that the Ferrari was not depreciating and could instead appreciate in value.
Judge Ngoepe found that it was unnecessary to establish that the vehicle was undergoing “rapid” depreciation before permitting its sale. The continuing insurance and storage costs could accumulate for an extended period, while there was insufficient evidence that appreciation in the Ferrari’s value would compensate for those expenses.
Selling the vehicle and investing the proceeds could instead preserve and potentially increase the value of the asset while the underlying litigation continues.
The Tribunal ordered that the money may only be used with the SIU’s approval towards maintaining other assets under curatorship and cannot be used to pay the curator’s fees. A counterclaim seeking Van Wyk’s removal as curator was also dismissed with costs.
The decision forms part of the much broader SIU investigation into alleged corruption and maladministration at the Gauteng Department of Health and Tembisa Hospital, where approximately R2 billion is alleged to have been looted.
The SIU is investigating the matter under Proclamation 136 of 2023 and has referred evidence indicating possible criminal conduct uncovered during its investigations to the National Prosecuting Authority for consideration.
The Ferrari may eventually disappear from the collection of preserved luxury vehicles, but the money will not. Under the Tribunal’s order, whatever is recovered from its sale must remain preserved while the legal battle over assets linked to one of South Africa’s most closely watched public hospital corruption investigations continues.
Anyone with additional information about the Tembisa Hospital investigation, companies or individuals linked to the alleged procurement irregularities, or assets connected to the investigation can contact TownPress confidentially at press@townpress.co.za.