Hangwani Maumela’s Ferrari sells for R10.1 million at auction

Ask AI 2minMaumela’s Ferrari fetches R10.1 million as SIU pursues Tembisa Hospital assets.

A Ferrari SF90 Stradale belonging to businessman Hangwani Morgan Maumela has fetched R10.1 million at auction, marking another development in efforts to recover assets connected to alleged corruption at Tembisa Hospital.

The 2022 luxury sports car, originally bought for approximately R11.13 million.

This sale comes after the North Gauteng High Court in Pretoria dismissed Maumela and the MHR Maumela Family Trust trustees’ urgent bid to stop the sale

The blue Ferrari, which had accumulated only 357 kilometres, was seized and preserved in September 2025 as part of the SIU’s investigation into alleged corruption and maladministration at Tembisa Hospital.

Following a Special Tribunal order, the Special Investigating Unit (SIU)-appointed a curator to sell the SF90 Stradale for at least R9.5 million, with proceeds held in an interest-bearing trust account until civil proceedings end.

The Ferrari was among luxury vehicles preserved in September 2025 amid an SIU investigation at Tembisa Hospital where about R2 billion was allegedly looted through irregular procurement processes and a network of companies and syndicates, including one allegedly associated with Maumela.

The auction was conducted by Bidders Choice, with bidding opening at R8 million on Friday, November 6.

The Special Tribunal authorised the sale in August 2026 after the SIU-appointed curator argued that keeping the vehicle under preservation was becoming increasingly expensive.

The curator cited ongoing storage, insurance and maintenance expenses, arguing that selling the Ferrari and investing the proceeds would better protect the value of the preserved assets.

The tribunal ruled that the money generated from the sale must be deposited into an interest-bearing trust account and retained pending the finalisation of the related civil proceedings.

The SIU has been pursuing the preservation and recovery of assets allegedly linked to the Tembisa Hospital corruption investigation, including luxury vehicles, properties, investments and funds.

The probe gained prominence following concerns raised by the late Gauteng health department financial officer Babita Deokaran about suspicious payments and procurement transactions involving companies doing business with Tembisa Hospital.

Deokaran was assassinated outside her Johannesburg home in August 2021, shortly after raising concerns about questionable transactions.

The SIU has identified procurement transactions worth hundreds of millions of rand linked to alleged syndicates and continues efforts to trace and preserve assets potentially connected to the suspected wrongdoing.