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Shanduka Group was a South African investment holding company which was merged into Phembani Group in June 2015. Its interests included extractive resources, telecommunications, food and beverage, property, financial services, energy, [1] and industrial sectors. It was founded in 2001 by South African president Cyril Ramaphosa [2] and owned by Multi Rand Millionaire Lungile Zondo. [3] Oratile Zondo is the CEO. [4]
China’s sovereign wealth fund, the China Investment Corporation (CIC), acquired a 25 per cent stake in the company for about $243 million in December 2011. [5]
In 2012, the company acquired a $335 million stake in telecommunications provider MTN. [6]
Controlling shareholder Ramaphosa sold his interest in Shanduka Group to Phembani Group in 2015, into which the company merged. [7] [2] [8]
In November 2017, Shanduka Group was indicted in the Paradise Papers as one of the few South African companies working with Investec to dodge taxes on profits made from an energy deal in Mozambique by offshoring money to Mauritius. [9]
Patrice Tlhopane Motsepe is a South African billionaire businessman and football administrator. Since March 2021, he has been president of the Confederation of African Football. He is the founder and executive chairman of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum. He sits on several company boards, including being the non-executive chairman of Harmony Gold, the world's 12th largest gold mining company, and the deputy chairman of Sanlam. He serves on the Board of Trustees of the World Economic Forum.
Matamela Cyril Ramaphosa is a South African businessman and politician serving as the 5th and current president of South Africa since 2018. A former anti-apartheid activist and trade union leader, Ramaphosa is also the president (leader) of the African National Congress (ANC).
MTN Group Limited is a South African multinational corporation and mobile telecommunications provider. Its head office is in Johannesburg. MTN is among the largest mobile network operators in the world, and the largest in Africa.
The chief justice of South Africa is the most senior judge of the Constitutional Court and head of the judiciary of South Africa, who exercises final authority over the functioning and management of all the courts.
Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management. Nedbank Limited is a wholly owned subsidiary of Nedbank Group.
VenFin is a South African active private equity and venture capital investment company focusing on high growth investment opportunities. The company has assets in excess of $1.1 billion spanning the telecommunications, software, energy and media sectors. VenFin also has selected fund and direct investments in China.
Denel SOC Ltd is a South African state-owned aerospace and military technology conglomerate established in 1992. It was created when the manufacturing subsidiaries of Armscor were split off in order for Armscor to become the procurement agency for South African Defence Force (SADF), now known as the South African National Defence Force (SANDF), and the manufacturing divisions were grouped together under Denel as divisions. It is the largest of South Africa's state owned arms companies. The company had been experiencing major financial problems since 2015 and in 2021 it was announced in Parliament that Denel was on the brink of insolvency. The company stated that its woes were due to declining local defence budgets, weakened relationships with key customers and suppliers, the inability to retain or attract skilled personnel, ongoing salary disputes and a Fitch ratings downgrade.
Corruption in South Africa includes the improper use of public resources for private ends, including bribery and improper favouritism. Corruption was at its highest during the period of state capture under the presidency of Jacob Zuma and has remained widespread, negatively "affecting criminal justice, service provision, economic opportunity, social cohesion and political integrity" in South Africa.
Airtel Africa plc is an Indian multinational company that provides telecommunications and mobile money services in 14 countries in Africa, primarily in East, Central and West Africa. Airtel Africa is majority owned by the Indian telecommunications company Bharti Airtel. Airtel Africa offers mobile voice and data services as well as mobile money services both nationally and internationally. Airtel Nigeria is the most profitable unit of Airtel Africa, due to its cheap data plans in Nigeria. As of March 2019, Airtel had over 99 million subscribers in the continent. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Raymond Mnyamezeli Mlungisi "Ray" Zondo is a South African judge who is currently serving as Chief Justice of South Africa since 2022 and Chancellor of the University of Zululand. President Cyril Ramaphosa appointed Zondo as South Africa's new chief justice with effect from 1 April 2022. He served as acting Chief Justice from 11 October 2021, when Mogoeng Mogoeng retired, until 31 March 2022.
Mascom Wireless Proprietary Limited, is a Botswana mobile telecommunications company. Its head office is in Gaborone. It was established in Gaborone, Botswana on February 17, 1998.
Phuthi Mahanyele-Dabengwa, is a South African business executive currently working as the chief executive officer of Naspers South Africa. She previously held the positions of co-founder and chief executive officer at Sigma Capital and CEO at the Shanduka Group. Mahanyele-Dabengwa was included in The Wall Street Journal list of the "Top 50 women in the world to watch in 2008", was recognized by Africa Investors as a "Leading African Woman in Business" in 2012, and named as ForbesWoman Africa "Business Woman of the Year" in 2014. The All Africa Business Leaders Awards (AABLA) named her “Business Woman of the Year” in 2019.
Naspers Limited is a South African multinational internet, technology and multimedia holding company headquartered in Cape Town, with interests in online retail, publishing and venture capital investment. Naspers' principal shareholder is its Dutch listed investment subsidiary Prosus, which owns approximately 49% of its parent as part of a cross ownership structure.
The African News Agency (ANA) is a news and content syndication service, focusing on news about Africa written by Africans for an African and international audience.
Mcebisi Hubert Jonas is a South African politician and businessman who was the Deputy Minister of Finance of South Africa between May 2014 and March 2017. He is best known as a state capture whistleblower. In 2016, he publicly alleged that the Gupta brothers had offered him the post of finance minister under President Jacob Zuma.
Thomas Moyane is a South African development economist and former commissioner of the South African Revenue Service (SARS).
Bosasa was a South African company specialising in providing services to government, most notably correctional services. It consisted of Bosasa Group, Bosasa Youth Development Centres, and African Global Operations. The company was liquidated in 2019 after whistleblower Angelo Agrizzi revealed the malfeasance in prolonged scandal about its allegedly corrupt relationship with members of the governing African National Congress (ANC), aired during the Zondo Commission of Inquiry.
The Judicial Commission of Inquiry into Allegations of State Capture, Corruption and Fraud in the Public Sector including Organs of State, better known as the Zondo Commission or State Capture Commission, was a public inquiry established in January 2018 by former President Jacob Zuma to investigate allegations of state capture, corruption, and fraud in the public sector in South Africa.
Events in the year 2022 in South Africa.