Wealthy beyond the wildest imagination, the Deputy President of South Africa ‘Cyril Ramaphosa’ has accumulated huge wealth by indulging himself into corrupt practices with his business counterparts; the White Afrikaans. He has illicitly used his powers during his tenure in the Parliament favoring the White Afrikaans and getting rewarded by them in return.
A self-proclaimed statesman who claims to be fighting for the rights of black natives, Cyril has himself proved his words wrong by entering into an alliance with his business counterparts thus playing a game of sheer bargain even at the expense of the native blacks. The tyrant businessman has amassed huge wealth by entering into an economic alliance with Afrikaans who have paid him since long in return of his close associations with National Council of Trade Unions (NCTU), being a legal adviser with NCTU and his political lineage with African National Congress.
Misusing his powers and indulging in corrupt practices with the White Afrikaans, Ramaphosa has become a billionaire who has 150 directorships in different companies thus holding shares amounting to R76 million as per the Company Register Records. His fortune is estimated to be around R2.7bn which includes stocks in mining, property and energy companies; 179 McDonald’s restaurants in South Africa; stakes in financial services firms etc. Apart from this, he owns 30 properties in Johannesburg and two apartments in Cape Town. We bring to you Ramaphosa’s Business Joint Ventures with the White Afrikaans which helped him in the stimulation of abundant wealth.
$900 Million Deal Signed Between Nicholas Oppenheimer & Cyril Ramaphosa
Ramaphosa’s lust for wealth started with a $900 million deal signed in August 1996 between Ramaphosa and Nicholas Oppenheimer, a scion of a South Afrikaans family who controls the South Africa’s most of the gold and diamond mining sector. Oppenheimer is the grandson of Ernest Oppenheimer, founder of Anglo American Company and the first generation of the family to chair the DeBeers diamond mining company in South Africa, established by Cecil John Rhodes in 1888.
The deal was more of a bargain, wherein bringing Ramaphosa in the company Oppenheimer bought a shield against the potential hostility of a new black government formed post-apartheid under the flagship of Nelson Mandela. Oppenheimer and his elite group primarily known as ‘White Monopoly Capital’ had been the staunch supporters of the apartheid who profited from a cruel system using migrant labour.
Ramaphosa was awarded substantial shares in the Anglo American Company which amounted to 25 per cent of South Africa’s GDP, at a very low price with almost 11 per cent below the market value. This was a mere beginning and thereafter there has been no looking back for Ramaphosa.
Ramaphosa Acquired Substantial Wealth Forming Part Of So Many Executive Roles Within JSE Listed Companies
Ramaphosa Joins NAIL As Director in 1997: In January 1997 Ramaphosa resigned from the African National Congress (ANC) after he lost the race to become the President of South Africa to Thabo Mbeki and became a director of New Africa Investments Limited (NAIL) which he formed in partnership with medical doctor and anti-apartheid activist Nthato Motlana.
Chairman Of Johnnic Holdings Limited in 1996: AMB Capital in 1996 acted as an “advisory” to a R2.7 billion broad-based empowerment deal in which the National Empowerment Corporation/Consortium (NEC) took control in Johnnic Holdings Limited. Not only did AMB capital act as advisory but it also raised capital to the value of R2.1 billion for certain members of the NEC to acquire a controlling stake in Johnnic Holdings Limited. Ramaphosa was made the Chairman to Johnnic holdings considering his history with labour unions.
The Shanduka Group: Ramaphosa formed Shanduka Group in 2000, a leading African black owned and managed investment based company, an unlisted entity with interests in Resources, Energy, Real Estate, Banking, Beverages, Industrial & General. Ramaphosa holds 50.05 per cent shares in the entity.
Millennium Consolidated Investments: Millennium Consolidated Investments is the exclusive investment vehicle of Cyril Ramaphosa, which was incorporated in March 2001. Cyril is the Chairman of MCI as well as the single largest shareholder in the company.
Apart from his holdings in these entities, Ramaphosa is a member of the advisory boards of the Sanlam Development Fund and the AIG Africa Infrastructure Fund, the Deputy Chairman of Reserve Holdings Limited and a board member of Firstrand Limited and South African Special Risks Insurance Association (SASRIA).
He is the past Chairman of the Black Economic Empowerment Commission, a past Deputy Executive Chairman of New Africa Investments Limited wherein he joined as Director in 1996 and has held various leadership positions in the National Union of Mineworkers.
He is the Chairman of Vancut Diamond Works, the non-executive Chairman of Pan African Resources PLC, MTN Group Ltd & Bidvest Group Ltd. He is also the Vice Chairman of Commonwealth Business Council, apart from being the director and independent director in many other entities. The table below lists the name of few of the other businesses that Ramaphosa has held during his business tenure and his shares in each of them:
|McDonald’s||100% (recently divested 100% of his shares to MSA Holdings, Dubai)|
|Coca-Cola Shanduka Beverages||70 %|
|Diepkloof Retail Development||52%|
|Mondi Shanduka Newsprint||42%|
|Pan African Resources||26%|
A majority of these businesses are managed solely by the White Afrikaans and have done no good in favor of the Blacks. Then why did Ramaphosa collaborate with these companies? It is quite clear that he favored the white monopoly capital all this time, and needs them now more than ever, just to accumulate wealth.