"Law enforcement must now take swift action and freeze all of Malema's properties and bank accounts until he can justify how he got this wealth in a court of law," Democratic Alliance Limpopo leader Jacques Smalle said in a statement.
"Malema and his associates must now justify how they amassed their wealth and properties. It cannot be acceptable that they continue to live lavish lifestyles in the face of the damning public protector's findings."
Earlier, provincial spokesperson Desiree van der Walt said Limpopo's Economic Development Minister Pinky Kekana must step down, after public protector Thuli Madonsela released her report detailing the unlawful tender process between the provincial transport department and On-Point engineering.
"The [provincial minister] clearly cannot be trusted with holding public office any more and must do the honourable thing and resign," she said.
Kekana approved the tender during her tenure as provincial transport minister. She was appointed as provincial minister for economic development in March.
Madonsela said on Wednesday the provincial minister had done so unlawfully.
Van der Walt said Kekana's "wrongdoing" could not be ignored now that she was in a new position.
"After all, the wrong-doings attributed by the public protector to her previous department all happened when she was still at the helm of roads and transport.
"This is a crisp example of a closed, crony system where state tenders are a conduit to enrich political allies," she said.
"We expect [provincial minister] Kekana's immediate resignation in light of the findings of the public protector."
The provincial transport department declined to comment on the report on Thursday.
"We will be responding to what the public protector is saying. It is only that at this stage we are not ready, because we have not gone through the report," the department's spokesperson Joshua Kwapa told SAfm.
Madonsela found that the tender was unlawful and that On-Point and Malema benefited improperly from this.
Malema's business partner Lesiba Gwangwa is chief executive of On-Point.
Kwapa said the department only received the protector's report at 6pm on Wednesday, the same day Madonsela addressed the media on the matter.
"We have to first study the report … when we say we are studying the report, it is seen as a delaying tactic. You must remember that we have to come out of this a responsible department, coming up with a statement that will be representative of what we have consumed," said Kwapa.
Madonsela received three complaints in July 2011 and decided to investigate allegations that the department of roads and transport awarded the On-Point tender corruptly. – Sapa