The 10-piece collection by anti-apartheid artist Ronald Harrison, known as the Spirit of Chief Albert Luthuli, has been insured for more than R3-million.
It includes portraits of the ANC president who was Africa's first winner of the Nobel peace prize and who died in 1967 at the age of 69.
"I bought the paintings to keep the spirit of Luthuli alive," said Reddy. He will display the collection at the Durban Art Gallery next month before handing the paintings to the Luthuli family.
Reddy said he had been approached by Luthuli's daughter to source the collection. Dr Albertina Luthuli said: "The paintings have been out there for a while and now they will return to their natural home in the museum. It's where they belong."
Reddy said, although he held the rights to the collection, proceeds from reprints would go to various charities.
One of the art works depicts the 1976 Soweto uprising.
Harrison, who died in June last year, was from Cape Town and became famous for his controversial painting, Black Christ (not part of Reddy's collection), which depicts a crucifixion scene with Luthuli as Christ.
Harrison was arrested by the security police and the painting was smuggled to the UK after it was banned. The piece was returned to South Africa in 1997.
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