Mamphela Ramphele worth R55m

2013-08-21 11:36

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Agang leader Mamphela Ramphele is worth just under R55.5 million and the house she lives in in Camps Bay is worth R10 million.

Her biggest assets are in indirect holdings, with R30 million in a family trust and R11 million in an investment trust.

Her shareholdings in Anglo American, Gold Fields, Sibanye Gold and PTI Select Managers Funds is R1.4 million combined.

Ramphele made this disclosure today to set an example to other political leaders to voluntarily disclose their assets too, she told journalists at a press conference in Braamfontein this morning.

“I call upon President (Jacob) Zuma to publish his accounts immediately. What is there to hide?” she said. “South Africans deserve a president that sets a good example for the rest of the country to follow.”

Ramphele is getting no salary as Agang leader, and her income for the past three months of the tax year ending February 2013 was R346 000 a “sizable drop in income due to her resignation from previous company board positions in December 2012”, she said.

Ramphele said Zuma has so far dodged disclosing his financial interests, using a “convenient technicality to sidestep this requirement”.

Ramphele said her wealth would not keep her from identifying with poor people. “I am one of many leaders of this country, as with (former) president (Nelson) Mandela, who was not poor,” she said.

She said abuse of power and “stealing from poor people” did create a barrier between leaders and poor people.

Asked about the state of mining in South Africa, Ramphele said the model used was still a 19th-century one with migrant labour and low wages.

She added that she hasn’t been making as much from her position as board member of Gold Fields as the executives had been. She said she “only” made about R2 million for something that was very hard work.

» This story was updated after first published

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