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Ramaphosa to review his business ties

Dec 19 2012 14:11
Reuters, I-Net Bridge

Johannesburg - Cyril Ramaphosa, the newly-elected deputy president of the ANC, said on Wednesday he was reviewing his extensive business ties for potential conflicts of interest. 

Ramaphosa, one of Africa's richest men and a board member of some of the continent's biggest companies, said in a statement he would review his "existing positions, responsibilities and obligations". 

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

“In consultation with the ANC national officials‚ I am undertaking a process of engagement with several stakeholders on the implications of my election to this post. 

“This will include a review of existing positions‚ responsibilities and obligations. It is intended that this process result in an arrangement that removes the possibility of any conflict of interest. 

“I will make further public statements at the appropriate time‚” Ramaphosa added in a statement. 

His investment company, Shanduka Group, is a quarter-owned by China's sovereign wealth fund. He is also an MTN Group chairperson.   


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