MaMkhize’s financial turmoil deepens as Royal AM sale faces hurdles
MaMkhize faces mounting financial challenges as her tax woes continue, impacting her Royal AM football club.
Businesswoman and reality TV star Shaun Mkhize, popularly known as MaMkhize, is facing increasing financial strain as legal and tax challenges continue to unfold.
With her Premier Soccer League (PSL) club, Royal AM, now on the market and her assets under scrutiny, her financial empire appears to be in crisis.
MaMkhize breaks her silence
On Monday, 31 March, MaMkhize addressed her financial troubles for the first time in months through an Instagram Story. Posting a picture of herself in her luxury home, she shared a cryptic message:
“My side of the story doesn’t matter anymore. Life happened. It hurt; I healed.”
She also hinted at personal betrayals, stating: “But most importantly, I learned who deserves a seat at my table and who will never sit again.”
This was her first public comment on the matter since January, when she issued a statement apologizing to Royal AM players following reports of their non-payment. At the time, she acknowledged that the club was under curatorship and was working on solutions to move forward.
MaMkhize’s legal battles and asset seizures
MaMkhize’s troubles stem from accusations by the South African Revenue Service (SARS) of evading over R40 million in unpaid taxes. In addition, she has previously faced charges related to fraud, forgery, bribery, and tax evasion.
According to Sunday World, her La Lucia home, which she once shared with ex-husband Sbu Mpisane, was raided by police in December. The publication claims that during the raid, authorities found multiple high-calibre rifles and ammunition. Additional properties, including a Sandhurst residence in Johannesburg, a farm, and a four-story mansion in Pietermaritzburg, were also searched.
MaMkhize’s name had already been trending on social media in previous months after reports surfaced of an alleged assassination attempt on a SARS advocate investigating her financial affairs.
The uncertain future of Royal AM
Amid her tax woes, MaMkhize’s PSL club, Royal AM, has been officially put up for sale. The club, formerly known as Bloemfontein Celtics, has attracted interest from several high-profile bidders, including Durban businessman Roy Moodley and his son, Mageshpren Moodley.
However, the deal has stalled. The club’s curator, Jaco Venter, claimed that the Moodleys’ company, Global Investments, failed to deposit the agreed-upon amount into the trust account before the deadline. In response, Roy Moodley denied these allegations, asserting that the sellers were “not forthcoming” about the club’s financial state.
With the deal in limbo, eNCA reports that Royal AM is once again back on the market, leaving its future uncertain.
What lies ahead for MaMkhize?
MaMkhize’s financial troubles reflect a larger issue of tax compliance and financial mismanagement among high-profile business figures in South Africa. While she has maintained her silence on the legal specifics, her latest social media post suggests that she is coming to terms with the consequences.