Ramaphosa to scale back private interests
AFRICAN National Congress deputy president Cyril Ramaphosa is leaving some of his business interests to ensure no conflict of interests arise, he said on Wednesday.
"The review of existing positions, responsibilities and obligations is necessary to address any potential conflicts of interest," Mr Ramaphosa said in a statement.
"And to ensure that I can adequately perform the responsibilities of my new position."
He announced he would not stand for re-election for his positions at mining company Lonmin and packaging group Mondi.
The decision was in line with an announcement made last month when he was elected as deputy president of the African National Congress at its national conference in Mangaung, to "review business interests", he added.
"This review, which requires consultation with affected companies and other relevant stakeholders, is ongoing. I will make further public statements at the appropriate time."
Mining company Lonmin said Mr Ramaphosa informed the board he would not stand for re-election at its forthcoming annual meeting on January 31.
He is a non-executive board member.
Mondi Limited and Mondi Plc said Mr Ramaphosa, who is joint chairman, would be stepping down at the conclusion of the annual general meetings on May 3, 2013.
Lonmin chairman Roger Phillimore thanked Ramaphosa for his commitment to Lonmin over a demanding time.
On August 16, 34 miners were killed when police tried to disperse them during a strike at the Lonmin Platinum mine in Marikana outside Rustenburg in the North West.
Mr Ramaphosa came under fire at the Marikana commission of inquiry, which was investigating the shooting, after e-mails between himself, Lonmin management and government ministers surfaced.
In one e-mail, Mr Ramaphosa strongly condemned the protests, described them as criminal acts, and suggested "concomitant action".
Mr Ramaphosa has offered to testify at the commission.
Mr Phillimore said: "The wisdom of his contributions has been invaluable to the company, and we will miss his measured but forceful participation in our affairs.
"On behalf of our shareholders, I would like to convey our very best wishes to him in his new and important role."
Mondi said: "Cyril has reviewed his business commitments and ... wishes to resign from his positions as joint chairman and as a non-executive director."
Joint chairman David Williams thanked Mr Ramaphosa for his contribution to the company.
"He has helped guide Mondi through its initial years of listing and played an important role in providing constructive counsel, particularly on issues specific to the South African business environment," he said.
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