Shanduka Group

Shanduka Group was a prominent South African investment holding company founded in 2001 by Cyril Ramaphosa. Before its merger, the firm operated as a black-owned and managed entity, building a diversified portfolio of assets across key economic sectors. These sectors included resources, energy, telecommunications, financial services, property, and food and beverage. The company's investment strategy involved partnering with established businesses and progressively acquiring operational influence to drive growth and transformation.

A significant milestone in the company's history was the 2011 acquisition of a 25% stake by the China Investment Corporation (CIC) for approximately $243 million. In 2014, following his appointment as Deputy President of South Africa, Cyril Ramaphosa announced his decision to disinvest from Shanduka to avoid any potential conflicts of interest. This led to a major transaction in 2015, where Shanduka Group merged with Phembani Group, a company founded by Phuthuma Nhleko. The merger created a substantial black-owned industrial group with a portfolio valued at over R9 billion at the time, combining assets in companies like Engen and Exxaro. As a result of this merger, Ramaphosa fully divested his interests in the company.

Shanduka was also committed to corporate social responsibility, establishing the Shanduka Foundation (now the Cyril Ramaphosa Foundation) in 2004, which focused on education and small business development. The group's investment footprint extended beyond South Africa to include Nigeria, Ghana, Mozambique, and Mauritius.

Keywords: investment holding, black economic empowerment, diversified portfolio, South African business, resources investment, Cyril Ramaphosa, Phembani Group, corporate mergers, energy sector, telecommunications, financial services, industrial holdings, BEE, African investments, mining assets