MTN Group chairman, Cyril Ramaphosa, was elected the ANC’s new deputy president on Tuesday (18 December).<\/p>\n
Ramaphosa\u00a0received a large majority of the votes at 3,018 versus those of his\u00a0opponents, namely fellow businessmen, Tokyo Sexwale (463) and Mathews Phosa (470).<\/p>\n
The businessman\u00a0is set to take over from current deputy president Kgalema Motlanthe, who was in turn defeated by Jacob Zuma for the position of\u00a0ANC president.<\/p>\n
Zuma won 2,983 votes while Motlanthe received 991 votes. A total of 3,977 votes were cast.<\/p>\n
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\u00a0the McDonald\u2019s Corp franchise in South Africa.<\/p>\n
Last month\u00a0Ramaphosa was embroiled in controversy over an alleged conflict of interest present in his investment company, Shanduka\u2019s acquisition of a \u201cminority stake\u201d in MTN Nigeria.<\/p>\n
On 28 November,\u00a0Shanduka Group<\/a>, a company founded and chaired Ramaphosa, paid $335 million for a stake in MTN\u2019s Nigerian business.<\/p>\n The acquisition of the \u201cminority stake\u201d had been purchased through Shanduka Telecommunication (Mauritius), a wholly-owned subsidiary of the Shanduka group.<\/p>\n Sitting as chairman for both parties in the transaction \u2013 MTN Group and Shanduka group \u2013 Ramaphosa was viewed as\u00a0possessing\u00a0an\u00a0alleged\u00a0conflict of interest, bringing the transaction into question.<\/p>\n MTN chairman seeks ANC deputy post<\/strong><\/a><\/p>\n Ramaphosa\u2019s Shanduka claims stake in MTN<\/strong><\/a><\/p>\n Rhamaposa slammed for Shanduka, MTN conflict<\/strong><\/a><\/p>\nRelated articles<\/strong><\/h3>\n