Pretoria - Nico Henning's bail application was postponed in the Pretoria Regional Court on Friday.
The case will resume on Tuesday, when a ruling is to be made.
Henning was arrested in connection with the murder of his wife Chanelle.
The 26-year-old woman was shot dead shortly after dropping off her son at a creche in Faerie Glen, Pretoria, in November 2011.
Nico Henning's friend Andre Gouws, 49, and former Nigerian athlete Ambrose Monye, were recently convicted for the murder.
Two other men, Gerhardus “Doepie” du Plessis and Willem “Pike” Pieterse, are serving 18-year prison terms after confessing to their roles in the murder.
During Gouws and Monye's trial in the High Court in Pretoria a few weeks ago, Daan Mostert, for Gouws, asked Gouws if he thought Henning had manipulated him when he allegedly ordered the hit on his wife.
“Without a doubt,” Gouws responded during sentencing procedures.
An emotional Gouws told the court his best friend and friend of 24 years had offered him R1 million to carry out the hit so he could get custody of the couple's now six-year-old son.
This was to be paid in monthly instalments of R50 000.
Gouws said he would testify against Henning and had decided to tell the truth because “it was the right thing to do”.
The State argued that Monye and Gouws conspired with Du Plessis and Pieterse.
In an affidavit submitted to the court on Friday, Henning refuted Gouws's claims that he hired him to kill his wife.
He said he was willing to pay R5 million for bail.
“I am presently in a position to secure R100 000,” Henning said in a statement.
“I am also prepared to offer a guarantee in terms of section 60 (13)(b) of Act 51 of 1977 in the amount of R4.9 million.”
Henning's lawyer, Piet van Wyk, said his client was not a flight risk.
He maintained his client had no family abroad and was not willing to live as a fugitive, nor leave his son.
Prosecutor Gerrie Nel, however, argued that Henning had no respect for the law.
Nel said Henning, who had previously worked as an advocate, illegally obtained his late wife's cellphone statements and attempted to plant cameras in her home.
He criticised Henning for failing to tell police that Gouws had bought a motorbike a few weeks before the murder and coincidentally, his wife was murdered by men on a motorbike.
“It's what he did not do that corroborates Gouws's version,” said Nel.
He added that Henning should not be granted bail as there were no exceptional circumstances warranting such.
Nel said just because Henning was a man of “means” did not mean he should be granted bail.
He said his love for his child was also not reason enough to grant him bail as the child was the motive for Chanelle Henning's murder.
Nico Henning looked stressed as he sat in the dock on Friday, wearing a black suit.
He briefly spoke to his lawyer before being led out of the courtroom by a police official.