Ramaphosa to review business interests

ANC Deputy President Cyril Ramaphosa has started an immediate review of his business interests.

Cyril Ramaphosa at the ANC Elective Conference in Mangaung on 16 December 2012. Picture: Taurai Maduna/EWN

MANGAUNG - ANC Deputy President Cyril Ramaphosa on Wednesday announced that he has started an immediate review of his business interests to determine which positions might constitute a conflict of interest.

On Tuesday, he was elected ANC deputy presidency at the national conference in Mangaung.

He is currently the chairperson of cellphone network MTN and of McDonalds South Africa.

The businessman said he needs to go back to his interests to see which of them would constitute a conflict of interest.

Ramaphosa's new political role should see him becoming the deputy president of South Africa.

There is speculation that current deputy president Kgalema Motlanthe might not finish his term after he ran for the ANC presidency.

Earlier, Congress of South African Trade Unions (Cosatu) general secretary Zwelinzima Vavi praised Ramaphosa's 30-year contribution to the National Union of Mineworkers (Num).

But Vavi also questioned the wealthy businessman's attitude towards the working class.

"He's now a multimillionaire, reflected by the empire that was created in the few years that he has been in business.

"I know one thing - it is always the material conditions of men that influence their conscious."