MTN Group Chairman to review business interests as a result of ANC election

Cyril Ramaphosa, MTN Group Chairman and founder of Black Economic Empowerment Group Shanduka, has said he will review his business interests in light of his election to be the African National Congress’ (ANC) Deputy President.

HumanIPO reported yesterday there were questions marks surrounding Ramaphosa because of the recent Shanduka acquisition of a stake in MTN Nigeria. Ramaphosa is chairman of both Shanduka Telecommunication (Mauritius) and MTN Group.

But in a statement issued by Ramaphosa through Shanduka, he said: “As a consequence of my election to the position of ANC Deputy President at the ANC’s 53rd National Conference in Mangaung, I have initiated a review of my interests in business.

“This is necessary to address any potential conflicts of interest, and to ensure that I can adequately perform the responsibilities of this position.”

Ramaphosa added he will consult with ANC officials and engage with stakeholders, including a review of “existing positions, responsibilities and obligations”.

Posted in: Telecoms

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