Cyril Ramaphosa, MTN Group’s Chairman, has received an overwhelming majority vote to become the African National Congress’ (ANC) Deputy President and will serve under Jacob Zuma, who was re-elected as the party’s President.
Ramaphosa through his investment company, Shanduka Group, has various investment interests including the MTN Group shareholding and newly acquired MTN Nigeria.
It is the MTN Nigeria share acquisition that has raised questions about conflict of interest as Ramaphosa sat as chairman for both Shanduka Telecommunication (Mauritius), a wholly owned subsidiary of Shanduka Group, and also as chairman of MTN Group when the transaction was concluded.
This has since brought many questions regarding the share acquisition in MTN Nigeria.
It remains to be seen though, aside from the MTN Nigeria share acquisition controversy whether he will be able to fulfill efficiently both his business and political positions as South Africa goes into national elections in 2014 where he will stand for the position of Deputy President of the country.