BEE investors to quit Absa

The shares are valued at a collective R2.2bn, after tax.

A special resolution to cash in Absa shares was discussed at the Batho Bonke annual general meeting earlier in the week.

Batho Bonke spokesperson Chris Vick told City Press no time frames for the disposal had been set, but disposal options would be considered.

Mvelaphanda holds a 2.28% stake in Absa through the Batho Bonke empowerment scheme.

Batho Bonke holds 3.9% of Absa.

Sexwale resigned from directorships when he was appointed to the Cabinet in 2009, but still holds shares in Mvelaphanda through a blind trust.

Sexwale is expected to challenge President Jacob Zuma for the ANC presidency in December.

Political analyst Steven Friedman told the newspaper that money was "incredibly important" in a presidential campaign.

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