Pretoria – The newly appointed Deputy President Cyril Ramaphosa on Monday announced that he had stepped down from the boards of several companies and as Shanduka Group Executive Chairman.
According to Deputy President Ramaphosa, he had stepped down from the company’s boards in the past 17 months.
“Shanduka's majority shareholders have entered into an agreement that will, among other things, result in my complete divestment from the Group. In the interim, my family's interests will be held in blind trusts.
“This is the culmination of a review of my business interests that I initiated soon after my election as African National Congress (ANC) Deputy President in December 2012. It was intended to remove the potential for any conflict of interest and enable me to effectively perform the functions of my position,” he said.
Deputy President Ramaphosa said in the course of the next few weeks, he will take further practical steps necessary to ensure that he complies with the requirements of the Executive Ethics Code and uphold the integrity of his office.
“I will continue to be involved in the Shanduka Foundation, a non-profit organisation that works in the areas of school development, skills development and enterprise development,” he said. – SAnews.gov.za
