President - Deputy President Cyril Ramaphosa has disposed of his shareholding in the Shanduka Group, an investment holding company with assets in a number of ‘regulated’ industries such as resources and energy.
In July President Jacob Zuma granted Deputy President Ramaphosa an extension of four months to dispose of or place under independent control, any assets that may give rise to a conflict of interest with his duties.
Rule 3.6 of the Executive Ethics Code requires that members of the executive to dispose of assets that may give rise to a conflict of interest or place them under the control of professional and independent persons.
“Deputy President Ramaphosa’s remaining business interests, all in ‘unregulated’ sectors, are being placed in a trust managed by independent and professional persons,” the presidency said.
Deputy President Ramaphosa would not give any instructions with respect to the management of his remaining business interests for the duration of his term in office.
“The Deputy President will update his disclosure of financial interests to Parliament and to the Secretary of Cabinet accordingly,” the Presidency said. – SAnews.gov.za
