FF Plus investigation into purchase of farms reveal possible extensive irregularities with money from Government Employees Pension Fund (GEPF)
4 February 2020
The FF Plus will ask The Hawks to launch an investigation into a transaction in which money from the Government Employees Pension Fund (GEPF) was used to pay an exorbitant amount for the purchase of two farms that make up just more than a thousand hectares.
According to a notice in the Landbouweekblad, dated 31 January 2020, the Government Employees Pension Fund (GEPF) paid an amount of R586 500 000 for the farms Palmietfontein (403) covering 547 ha and IP (564) covering 481 ha.
It comes down to an amount of R570 000 per hectare, while the general price for comparable land in that area usually amounts to a mere R20 000 per hectare.
The FF Plus went to investigate to determine whether there has been any development on the land, but at first glance it seems that no development has taken place. The farms border on the N12 between Stilfontein and Klerksdorp.