Categories: News

ANCYL President mum on R5,4m estate

JOHANNESBURG – ANC Youth League president Collen Maine has gone to ground, refusing to comment on his new home, which allegedly cost R5,4-million.

According to a report by amaBhungane Centre for Investigative Journalism, Maine secured the home loan from an unusual source.

amaBhungane revealed that the lavish Pretoria estate required him to pay R140,000 a month.

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Maine has lived at the estate since 2012, but only bought the house last year.

Speculation is rife about how Maine affords this lavish lifestyle on his current salary.

Information in the title deed suggests he may have had help from the controversial Gupta family to make the purchase.

According to the bond documents, the home is financed by the Bank of India.

A Pretoria attorney whose company was involved in the transfer declined to comment, but confirmed that the Bank of India is a commercial bank that sometimes grants home loans.

The house was transferred last year November, six months after Maine was elected youth league president.

Maine publicly defended the Gupta family and their businesses when predecessor Julius Malema called for the family to leave South Africa.

He is not the first youth league president accused of living beyond his means.

In 2011, Malema reportedly paid R1,8-million in cash for a home in Sandton.

He had allegedly used a family trust to receive money in exchange for facilitating government contracts.

source; eNCA

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