Morgan Maumela’s R9.5 Million Ferrari Set For Auction As SIU Targets Tembisa Hospital Looting Assets

Morgan Maumela is set to lose one of his most expensive luxury possessions, with the Special Investigating Unit (SIU) preparing to put his Ferrari SF90 Stradale up for auction on Friday.

The high-performance supercar, valued at approximately R9.5 million, is among the assets identified during investigations into the alleged looting of more than R2 billion from Tembisa Hospital. The auction will remain open until 11 November, allowing potential buyers an opportunity to bid for the vehicle.

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The Ferrari forms part of a wider asset preservation process involving several luxury vehicles linked to Maumela.

Authorities secured the preservation order through the Special Tribunal in September 2025 while the main legal proceedings in the matter remain ongoing. The latest development comes as the SIU continues its efforts to recover assets allegedly connected to the hospital corruption scandal.

Morgan Maumela Ferrari Auction: How The R11 Million Supercar Lost Value

The Ferrari SF90 Stradale was reportedly purchased for R11 million in April 2022, but its estimated value has since dropped by approximately R1 million.

Its current valuation places it at around R10 million, although the auction listing puts the vehicle's value at approximately R9.5 million. The difference highlights the financial value of the asset now being prepared for sale.

Maumela previously challenged the application seeking permission to sell the vehicle, arguing that it was not losing value and could instead appreciate over time. However, Special Tribunal President Judge Bernard Ngoepe ruled that there were adequate grounds to approve the sale, even without evidence establishing that the Ferrari was experiencing rapid depreciation. The ruling paved the way for the SIU to proceed with the auction.

Tembisa Hospital Scandal: SIU Links Maumela To Alleged R800 Million Syndicate

Maumela has been identified as a central figure in investigations into the alleged theft of more than R2 billion from Tembisa Hospital.

Investigators have reportedly identified three alleged syndicates connected to the scheme, with the group associated with Maumela, referred to as the Maumela Syndicate, allegedly benefiting by more than R800 million. The Ferrari is among several high-value assets targeted through the investigation.

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The businessman also featured in testimony presented by controversial businessman Vusimuzi 'Cat' Matlala at the Madlanga Commission of Inquiry in August. Matlala claimed that he and Maumela each contributed approximately R1 million towards a business venture aimed at securing medical supply contracts from the Gauteng Department of Health. His testimony brought further attention to the business dealings being examined in connection with the scandal.

SIU Maumela Investigation: Midrand Property Raided For More Assets

The SIU's efforts to identify and preserve assets linked to Maumela have continued beyond the luxury vehicles already covered by the tribunal's order. In October, investigators raided a property in Midrand as they searched for additional assets belonging to the businessman. The operation forms part of the wider asset-tracing efforts surrounding the Tembisa Hospital investigation.

The Ferrari auction marks another development in the SIU's attempts to deal with assets implicated in the alleged corruption. However, the main application before the relevant legal processes remains to be finalised. The outcome of those proceedings will be important in determining the ultimate legal position of the preserved assets.