DEPUTY President Cyril Ramaphosa is holding on to his shareholding and directorship in McDonald’s SA, a meat abattoir, a sports car maker and a property firm.He is only resigning from industries directly regulated by the government, such as mining.
This is revealed in parliament’s register of members’ interests for 2014, adopted and released to the public yesterday by the joint committee on ethics and members’ interests.
The documents show that Ramaphosa is still in the process of resigning as a non-executive director and shareholder of companies such as platinum producer Lonmin but would continue holding a controlling stake in fast-food giant McDonald’s through his family trust, the Tshivhase Trust.
He bought the 20-year master franchise deal to run all 145 McDonald’s restaurants in the country in 2011.
Ramaphosa’s family trust holds a 30% share in the Shanduka Group, a black economic empowerment company he established in 2001 that now has a gross asset value in excess of R13.5-billion.
He has until the end of November to dispose of business assets that could present him with a conflict of interests while executing his government duties in terms of the deadline set for him by President Jacob Zuma.
But Ramaphosa has chosen to stay on as an active director in McDonald’s, Ramburg Beef, Puma sports cars and Ntaba Nyoni Estates since government has no direct control in the retail sector.
Ramaphosa has also disclosed he has personal shares worth more than R76-million in seven companies involved in cattle farming and sports car manufacturing.
National Assembly Speaker Baleka Mbete owns 100 shares worth R2.5-million in Rich Cove Investment and another 277 shares worth R2-million in Truncard Trading. The two companies are beneficiaries of the controversial Gold Fields BEE deal of 2010.
In terms of directorships and properties, Mbete said she had nothing to declare.
EFF leader Julius Malema also had no properties and directorships to declare, only disclosing an interest in four family, investment and charity trusts, including his controversial Ratanang Family Trust.
The DA’s Mmusi Maimane, an ordained preacher, has declared an unvalued remuneration from the Liberty church where he preaches when he’s not fighting political battles.
He is also a director of Maimane Training and Communication, which has three properties in Roodepoort, Wilgeuwel and Weltevreden Park in Johannesburg.
Ramaphosa holds on to directorship in retail businesses
This is revealed in parliament’s register of members’ interests for 2014, adopted and released to the public yesterday by the joint committee on ethics and members’ interests.
The documents show that Ramaphosa is still in the process of resigning as a non-executive director and shareholder of companies such as platinum producer Lonmin but would continue holding a controlling stake in fast-food giant McDonald’s through his family trust, the Tshivhase Trust.
He bought the 20-year master franchise deal to run all 145 McDonald’s restaurants in the country in 2011.
Ramaphosa’s family trust holds a 30% share in the Shanduka Group, a black economic empowerment company he established in 2001 that now has a gross asset value in excess of R13.5-billion.
He has until the end of November to dispose of business assets that could present him with a conflict of interests while executing his government duties in terms of the deadline set for him by President Jacob Zuma.
But Ramaphosa has chosen to stay on as an active director in McDonald’s, Ramburg Beef, Puma sports cars and Ntaba Nyoni Estates since government has no direct control in the retail sector.
Ramaphosa has also disclosed he has personal shares worth more than R76-million in seven companies involved in cattle farming and sports car manufacturing.
National Assembly Speaker Baleka Mbete owns 100 shares worth R2.5-million in Rich Cove Investment and another 277 shares worth R2-million in Truncard Trading. The two companies are beneficiaries of the controversial Gold Fields BEE deal of 2010.
In terms of directorships and properties, Mbete said she had nothing to declare.
EFF leader Julius Malema also had no properties and directorships to declare, only disclosing an interest in four family, investment and charity trusts, including his controversial Ratanang Family Trust.
The DA’s Mmusi Maimane, an ordained preacher, has declared an unvalued remuneration from the Liberty church where he preaches when he’s not fighting political battles.
He is also a director of Maimane Training and Communication, which has three properties in Roodepoort, Wilgeuwel and Weltevreden Park in Johannesburg.
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