Sandile Zungu | |
|---|---|
| Born | Sandile Donald Muziwenkosi Zungu 10 February 1967 Umlazi Township, Durban, South Africa |
| Alma mater | University of Cape Town, Harvard Business School |
| Occupation(s) | Businessman, entrepreneur, philanthropist |
| Known for | Founder of Zungu Investments Company, owner of AmaZulu FC, president of the Black Business Council |
| Spouse(s) | Zodwa Zungu (m. 1991;death 2016)Nozipho Magubane (m. 2022) |
| Children | 5 |
| Awards | Outstanding Business Strategy Award (2000) [1] The Business Map Dealmaker of the Year (1998) [2] |
| Website | https://www.weforum.org/people/sandile-zungu/ |
Sandile Donald Muziwenkosi Zungu (born 10 February 1967) is a South African businessman, entrepreneur, and philanthropist. He is the founder [3] and executive chairman of Zungu Investments Company (Zico), owner [4] of AmaZulu Football Club, and a key figure in Sizekhaya Holdings, the consortium awarded [5] South Africa’s National Lottery licence in 2025. As president [6] of the Black Business Council and a member of the BRICS Business Council, Zungu is recognized for his contributions to black economic empowerment and South African commerce. [7] [8]
Sandile Zungu was born in Umlazi Township, Durban, South Africa, on 10 February 1967. Raised in a modest environment, he attended Mafukuzela Primary School and Mafumbuka, a school for high-achieving students. He matriculated from Vukuzakhe High School in 1983, earning recognition [9] in the KwaZulu-Natal regional finals of the Old Mutual National Science Olympiad. In 1984, he completed post-matric studies at elite Hilton College, South Africa, where socio-economic disparities shaped his perspective. [10]
Zungu earned a Bachelor of Science in Mechanical Engineering from the University of Cape Town (UCT) in 1988 and a Master of Business Administration (MBA) from UCT’s Graduate School of Business in 1995. In 2000, he completed the Program for Global Leadership at Harvard Business School. [11]
From 1989 to 1994, Zungu held engineering roles [2] at Richards Bay Minerals, Engen Refinery, National Sorghum Breweries, and South African Breweries. In 1995, he joined African Merchant Bank as an associate. In 1997, he founded [12] SARHWU Investment Holdings, [13] growing its net asset value to over R400 million. He later served as executive director at NAIL, contributing to its growth into a R1 billion media company by 2001. [14]
In 2002, Zungu founded Zungu Investments Company (Zico), a diversified industrial holdings firm with interests in education, manufacturing, property, sports, forensics, gaming, and resources. [15] Zico’s portfolio includes stakes in Rockwell Diamonds Inc., Sereti Resources Holding Pty Ltd., and Coza Mining. [15]
In October 2020, Zungu acquired AmaZulu Football Club. Under his leadership, the club achieved a second-place finish in the DStv Premiership in the 2020–21 season, qualifying for the CAF Champions League. His daughter, Sinenjabulo Zungu, [16] serves as CEO of AmaZulu FC. [8]
In May 2025, Zungu, with businessman Moses Tembe, led Sizekhaya Holdings to secure South Africa’s National Lottery and Sports Pools licence, valued at R180 billion [17] over eight years, replacing Ithuba Holdings. Sizekhaya, partly owned [18] by Goldrush Group (50%), was selected after a competitive bidding process. The decision faced scrutiny over alleged political ties, particularly Zungu’s past ANC affiliations and links to Deputy President Paul Mashatile via Bellamont Gaming, a Sizekhaya shareholder. Opposition parties, including the EFF and BOSA, questioned the tender’s transparency. [19] [20] [21]
Zungu is Chancellor of Mangosuthu University of Technology (since 2022) and was chairman [22] of EOH Holdings. He serves as a non-executive director of Grindrod Limited [23] and Novus Holdings. As president of the Black Business Council, he advocates for inclusive economic growth. He is a member of the BRICS Business Council and a World Economic Forum Young Global Leader. [7]
Zungu was married to Zodwa Zungu from 1991 until her passing in 2016 from cancer. They had four children: Mfundo, Lwazi, Vuyo, and Sinenjabulo. In June 2022, he married Nozipho Magubane, and they welcomed a daughter, Nobuholi Nala Zungu, in May 2023. He was briefly engaged to Slindile “Slee” Wendy Ndlovu from 2016 to 2022. [27]
He resides in Durban, Albert Town, and the Zungu Wedding and Conference Center. His car collection includes a Bentley Continental GT, Mercedes-Benz CLA, and BMW 760li. His estimated net worth is $13 million (approximately R226 million). [28]
Through the Zodwa Zungu Foundation, Zungu supports cancer-related causes. [29] His township upbringing and church-based programs inspire his community upliftment efforts. [30]
In 2022, Sandile Zungu, a prominent South African businessman and AmaZulu FC owner, campaigned for the ANC KwaZulu-Natal provincial chairperson role, promoting job creation and party unity before withdrawing to prioritize ANC cohesion. [31] In 2025, Sizekhaya Holdings, where Zungu is a key figure, won the R180 billion National Lottery licence, committing to job creation and innovation. [32] Allegations of favouritism linked to ANC figures were dismissed by Sizekhaya and the parliamentary statement issued on Tuesday, 24 June 2025, [33] National Lotteries Commission (NLC) [33] confirming a [34] transparent process. [35]