Resolving conflicts may take time: Ramaphosa
Cyril Ramaphosa has assured business that he is committed to addressing any potential conflicts of interest between his role as ANC deputy president, and his many businesses.
In an interview on CNBC Africa on Tuesday evening (15 January), Ramaphosa said that the process of assessment and review is underway, adding that he will be issuing a statement “as we move along”.
Ramaphosa is independent non-executive director and chairman of MTN Group and is also chairman of Bidvest Group. He also sits on the board of brewer, SAB Miller and Standard Bank Group.
“What is clear is that I want to be able to remove any form of confliction…with my role as deputy president of the ANC, and with what I do in business,” he said.
When asked about his role as chairman of Shanduka Group, a holding company he founded, Ramaphosa said: “We are considering everything, and nothing is going to be left unturned.”
Shanduka recently paid $335 million for a stake in MTN’s Nigerian business.
“My election to this position (ANC deputy president) is quite an important event…and I therefore have to be very careful with the necessary amount of consultation, advice and interaction with entities I will be dealing with, but to do the right thing.”
“It may take some time, but what I want everyone to be rest assured of, is that we are going to be dealing with it,” the figurehead stressed.
“Avoiding conflicts of interest should come naturally to anyone,” Ramaphosa insisted.
He said that where there was a potential conflict of interest, there are two options: “It’s either that it is clearly explained in a very transparent manner so that anyone who will be dealing in that sphere will know that there are interests that so and so has. Or, it’s to avoid them completely.”
“Now I come from a school of thought that says where there are conflicts of interest, try to avoid them because you don’t want those that you deal with to raise questions and suspicions about how things have been done.”
The deputy leader of the ruling party said that, where interests can be explained, they should be done in a rational manner.
Following Ramaphosa’s election in the ruling party, MTN Group said that it would “consider” the appointment of its chairman.
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