Ramphele net worth questioned
Forbes says the Agang SA leader never contested a report in 2011 putting her net worth at R500m.
JOHANNESBURG - Mamphela Ramphele's finances are back in the spotlight this week with Forbes Africa saying the Agang SA leader did not reject a net worth assessment of R500 million when the magazine conducted a financial report of her wealth in 2011.
Last week, Ramphele said her net worth was R55 million, nearly 10 times less than what was reported two years ago.
Forbes Africa editor Chris Bishop stands by his magazine's 2011 report but says it's possible Ramphele's circumstances have changed.
"This assessment was made more than two years ago, things may have changed since then. She may have sold shares. It's done on shareholding, it's done on equity, it's done on debt, it's done on cash and it's also done on possession."
Agang SA'S Thabo Leshilo says the party tried to investigate the claims and compare Forbes's findings with what they see as the reality.
"They don't actually tell you how they arrived at that, they just mention that these people are worth so much without actually explaining the methodology."
Ramphele said she revealed her financial status to show transparency within the party and called on President Jacob Zuma to do the same.
However, the ANC said Zuma would not do so, saying all Parliamentarians have already disclosed their financial status.
The ANC's Keith Khoza also said Ramphele had no right to ask Zuma to disclose his finances to the public.
On Sunday, the Young Communist League (YCL) Secretary-General Buti Manamela criticised Ramphele for disclosing her financial status, likening her with controversial businessman Kenny Kunene, who has previously been criticised for being flamboyant with his wealth.
Ramphele is a former activist, a medical doctor, an academic and a businesswoman. She was Bantu Stephen Biko's partner, having two children with him, and a former Vice-Chancellor of the University of Cape Town and Managing Director of the World Bank.
She first announced her intention to enter South African politics with her new party at the beginning of the year.