Ramaphosa reviewing interests – Shanduka

Deputy President Cyril Ramaphosa. Picture: Ayi Leshabane

Deputy President Cyril Ramaphosa. Picture: Ayi Leshabane

Shanduka Group founder Cyril Ramaphosa is reviewing his business interests in view of his election as ANC deputy president, the company said on Thursday.

“He has subsequently stepped down from a number of positions,” company spokesman Steyn Speed said in a statement.

“This process, which involves consultation with affected companies and other stakeholders, is continuing, and he will make further announcements when appropriate.”

The statement was in response to a report that Ramaphosa was quitting Shanduka and was expected to “divest” his interests.

This was reportedly according to James Motlatsi, expected to replace Ramaphosa as Shanduka chairman.

Speed did not confirm or deny that Ramaphosa would leave Shanduka.

Ramaphosa was expected to head to Parliament after the elections later this year.

In January last year, following the African National Congress’s 2012 Mangaung conference, it was announced that Ramaphosa was stepping down from his positions at mining company Lonmin and packaging group Mondi.

Ramaphosa was a non-executive board member at Lonmin and a joint chairman at Mondi Limited and Mondi Plc.



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