Ramaphosa Ready To Settle Controversy Over ANC Role

VENTURES AFRICA – MTN Group Chairman Cyril Ramaphosa has prepared to clear the air concerning suspicions surrounding his business ties and his newly elected role as deputy president of the South African ruling party, African National Congress (ANC).

According to BD Live, the political activist turned businessman told Christiane Amanpour in a CNN broadcast, Tuesday, that the party members who elected him were privy to his business inclination, and that he would continue actively in business.

“…the ANC is a political organisation that welcomes everyone,” Ramaphosa said.

Though the office Mr Ramaphosa would be holding in the government is yet uncertain, the businessman has promised his actions would be guided by ANC’s objectives.

Mr Cyril Ramaphosa founded and controls Shanduka Group, which is 25-percent owned by China’s sovereign wealth fund following the China Investment Corporation $226-million payment for a quarter of Shanduka last year.

In November, Shanduka Group acquired a minority stake in MTN Nigeria for $335 million.