Shanduka Group

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]

  1. ^ "Shanduka Group gains majority control of coal JV". Reuters. Retrieved 29 August 2024.
  2. ^ a b "South African Deputy President To Earn At Least $200 Million From Sale Of Investment Firm". Forbes. Retrieved 29 August 2024.
  3. ^ Our Business. Shanduka Group. Retrieved 1 October 2014.
  4. ^ Executive Management Phuti Mahanyele Chief Executive Officer. Archived 2014-10-06 at the Wayback Machine Shanduka Group. Retrieved 1 October 2014.
  5. ^ "CIC buys 25% stake in Shanduka". Financial Times. Retrieved 29 August 2024.
  6. ^ "Ramaphosa's Shanduka Buys $335 Million Stake in MTN Nigeria Units". Bloomberg. Retrieved 29 August 2024.
  7. ^ "South African Deputy President To Earn At Least $200 Million From Sale Of Investment Firm". Forbes. Retrieved 29 August 2024.
  8. ^ "Pembani Group Proprietary v Shanduka Group Proprietary Limited (18 September 2015)". SAFLII. Retrieved 29 August 2024.