South Africa: Ramaphosa disposes of Shanduka stake

Deputy president Cyril Ramaphosa has disposed of his stake in Shanduka Group. Ramaphosa had been under pressure to shed assets that could create a conflict of interest since his appointment following elections in May. Shanduka is an investment holding company with assets in a number of so-called ‘regulated’ industries such as resources and energy. A family trust for Ramaphosa held a 29.6% stake, which has been transferred to the non-profit Mabindu Trust, set up in 2002 and financed by Shanduka to promote business development.