Faizel Patel
Senior Digital Journalist
2 minute read
4 Jun 2022
9:27 am

Ramaphosa’s millions: Here’s what you could do with $4 million in South Africa

Faizel Patel

US$4 million (R61.8m) could feed more than 110,000 children for a year. What else could you buy with $4 million? Well...

That's what $4 million dollars in cash looks like. Each bundle contains 5 X $10,000 wads of $100 bills Photo: Twitter/Nikolai Holmov

As South Africans traverse a difficult socio-economic climate with the rising cost of fuel, food prices, poverty and unemployment, President Cyril Ramaphosa being robbed of $4 million (R61.8 million) raised more than just a few eyebrows.

R61.8 million is a staggering amount of money, akin to winning the national lottery with the potential to make a difference in so many lives and assist those who are living in abject poverty or battling to make ends meet.

So, what can a stash of R61.8 million buy you in South Africa?

Ramaphosa’s $4 million

When you think about it, R61.8 million can make a real difference to so many South Africans, especially as the country continues to struggle with a number of socio-economic issues.

RDP houses

Apart from a luxurious mansion in Clifton, the latest high-priced supercar, jewellery and other commodities, this massive amount can also build approximately 560 RDP houses.

According to SA Facts, this would be at a cost of about R110,000 per RDP house.

Food baskets

More importantly, the money can pay for nearly 14,000 food baskets for South African households.

According to the May 2022 Household Affordability Index designed by the Pietermaritzburg Economic Justice & Dignity Group (PMBEJD), this would be at an average cost of R4,609.89 per basket.

ALSO READ: Why did Ramaphosa have $4 million cash stashed on his game farm?

Feeding children

The whopping amount of money can also feed over 110,000 children for a year – a reflection of the R20 million raised by Cape Town-based radio station KFM.

These funds – collected during a radiothon for the Peninsula School Feeding Association (PSFA), an NPO addressing hunger in primary, secondary and special needs schools – will be used to feed over 35,000 children.

However, the money was Ramaphosa’s and he could’ve done what he wanted to do with it.

Ramaphosa $4 million disputed

The presidency has since disputed the amount stolen. While it could not detail the exact amount, the presidency said the figure mentioned by State Security Agency’s (SSA) former Director-General, Arthur Fraser, was an exaggeration.

Ramaphosa’s spokesperson, Vincent Magwenya, said the large amount of cash stolen was not a transaction arising from an auction, but rather from the sale of game at the president’s Phala Phala game farm in Limpopo.

“It’s not unusual that there were cash payments because some clients do transact in cash and some clients will transact via EFT. So, there was nothing unusual in terms of the transaction itself and the nature of the transaction,” he said.

These claims – among others, including the suspects who broke into the president’s property were subsequently kidnapped, interrogated, and paid off to keep silent – were laid out in a criminal complaint by Fraser.

Ramaphosa has since denied allegations that he engaged in criminal conduct following the robbery at the farm, with his office saying Fraser’s credibility and reasons for opening a criminal case against the president should be interrogated.

ALSO READ: ANC refuses to be drawn into Ramaphosa, Fraser spat