Ramaphosa appointed ANC deputy
MTN Group chairman, Cyril Ramaphosa, was elected the ANC’s new deputy president on Tuesday (18 December).
Ramaphosa received a large majority of the votes at 3,018 versus those of his opponents, namely fellow businessmen, Tokyo Sexwale (463) and Mathews Phosa (470).
The businessman is set to take over from current deputy president Kgalema Motlanthe, who was in turn defeated by Jacob Zuma for the position of ANC president.
Zuma won 2,983 votes while Motlanthe received 991 votes. A total of 3,977 votes were cast.
Earlier this year, Forbes ranked Ramaphosa as the 36th richest man in Africa, with a fortune of $275 million, accumulated mostly from mining operations. He also owns the McDonald’s Corp franchise in South Africa.
Last month Ramaphosa was embroiled in controversy over an alleged conflict of interest present in his investment company, Shanduka’s acquisition of a “minority stake” in MTN Nigeria.
On 28 November, Shanduka Group, a company founded and chaired Ramaphosa, paid $335 million for a stake in MTN’s Nigerian business.
The acquisition of the “minority stake” had been purchased through Shanduka Telecommunication (Mauritius), a wholly-owned subsidiary of the Shanduka group.
Sitting as chairman for both parties in the transaction – MTN Group and Shanduka group – Ramaphosa was viewed as possessing an alleged conflict of interest, bringing the transaction into question.
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