Johannesburg – The Presidency has rejected as untrue claims that President Cyril Ramaphosa was unlafully involved in a “side hustle” involving his Phala Phala farm.
At the weekend, former president Jacob Zuma accused President Ramaphosa of “treason” saying, “no president should conduct private business while in office. Our country’s problems are too big for a president who is busy hustling on the side.”
However, speaking to reporters on Tuesday, Presidency Spokesperson Vincent Magwenya explained that the “Executive Ethics Code requires that members of the executive should either dispose of financial interests, which may give rise to a conflict of interest, or place the administration of such interests under the control of an independent and professional person”.
Magwenya said on assumption of the position of Deputy President in 2014, Ramaphosa embarked on a process to comply with the Executive Ethics Code with respect to his financial interests.
“The President decided to dispose of those interests, which may give rise to a conflict,” Magwenya explained.
“On 26th November 2014, Shanduka announced Mr Ramaphosa’s divestment from the group.
“This involved the disposal of interests in ‘regulated’ sectors like mining, telecommunications and energy, i.e. those which may give rise to a conflict of interest.
“He retained assets in some ‘non-regulated’ sectors like property and restaurants.”
Magwenya said, although not required by the Executive Ethics Code, President Ramaphosa put these remaining assets from the Shanduka divestment under the management of independent and professional persons.
“These non-regulated interests have subsequently been disposed of,” Magwenya said.
“The President’s farming operations have always been separate from Shanduka and were therefore not part of these transactions.
“The farming properties are not businesses that may give rise to a conflict of interest.”
Magwenya said President Ramaphosa’s directorships and shareholding in the respective farming entities have been included in his annual Declaration of Interests to Parliament (2014-2018) and the Secretary of Cabinet (2014-2022).
“Whilst the farming entities do trade in the purchase, sale and breeding of game and livestock, the President does not earn a salary from these entities.
“Revenues earned from the trading of game and livestock cover salaries of workers, upkeep of the properties, and the remainder is re-invested into the breeding of unique game and livestock species, veterinary services and other related costs.”
Meanwhile, the Strategic Dialogue Group (SDG) has denied that former president Thabo Mbeki criticised President Ramaphosa, saying it has “noted the deliberate distortion” of his remarks.
“Contrary to the claim by some within the ANC, Cde Mbeki did not attack President Cyril Ramaphosa. Rather, he called for a discussion on the possible impact of certain matters that are in the public domain on the ANC,” the SDG said.
The theme for the SDG’s AGM, which Mbeki addressed was: “Renewal: The Cornerstone of Our Future”.
