Newly appointed Deputy President
Shanduka, 25 percent-owned by
Shanduka will merge with Pembani, a company controlled by former MTN chief executive
Shanduka, which means "change" in
Ramaphosa, pictured, founded |the company in 2001 after he left politics to pursue a career in business that has made him one of
A lawyer by training, Ramaphosa started in politics by building and heading the powerful
He returned to politics in late 2012 when he was elected deputy president of the ruling ANC.
Since his return to politics, Ramaphosa has resigned from the boards of several major South African companies, including
"This transaction is the culmination of a review of my business interests that I initiated soon after my election as ANC deputy president," Ramaphosa said in a statement.
"It enables me to leave Shanduka and eliminate any conflicts of interest," he said.
In addition to
His family's interests would be held in blind trusts in the interim, Ramaphosa said in a separate statement. - Reuters
Most Popular Stories
- Criminal Investigation Opened Into James Foley's Death
- Apple Stock Bounces Back Big Time
- Is Diversity in the Eye of the Beholder?
- Investors Betting on ECB Stimulus Measures
- 'Mythbusters' Build Team Gets the Boot
- Jennifer Lopez Would Marry Again
- Florida Judge Rules in Favor of GOP Voter Map
- Mo'Ne Davis a Big Winner Despite Loss
- DHS Warns Retailers About Malware in Cash Registers
- Hackers Get Homeland Security Employee Records