Ramphele: Govt stealing from the poor

Agang SA leader, Mamphela Ramphele, has disclosed her net worth of R55m and has urged President Jacob Zuma to do the same. (Werner Beukes, Sapa)
Agang SA leader, Mamphela Ramphele, has disclosed her net worth of R55m and has urged President Jacob Zuma to do the same. (Werner Beukes, Sapa)
Cape Town - Agang SA leader Mamphela Ramphele is leading the way for transparent governance this women's month by becoming the first leader of a political party in South Africa to disclose her net worth.

Ramphele disclosed her net worth of R55m on Wednesday. She has urged President Jacob Zuma to do the same.

"What is there to hide?" she asked.

"Today I am going to put my money where my mouth is."

She said she was making public her financial affairs for the country to scrutinise in the light of the need for accountability.

Ramphele said her net worth as of June 27 this year was R55 436 063.

Her shares with Anglo American [JSE:AGL], Gold Fields [JSE:GFI], Sibanye Gold and a manager’s fund was worth R1.38m.

Her primary residence in Camps Bay was valued at R10m.

A total of R1 146 139 was in retirement annuity and R1 574 064 in a provident fund.

Her family trust held R30m and her investment trust R10.9m.

"My income for the tax year ending February 28 2013 was R346 000," she said.

She added that it was a sizeable drop from previous years due to her resignation from all board commitments ahead of her entrance into politics.

Ramphele said her wealth did not distance her from the poor.

She said she was one of many leaders, including former president Nelson Mandela, who was not poor.

"Being comfortable or having a measure of wealth is not a barrier to linking with poor people.

"What is a barrier is the abuse of power and stealing from poor people as this government has done consistently over the last 20 years."

She said the auditor general reported that over R30bn of taxpayers' money was wasted or incorrectly spent by government departments across the country in 2012 alone.

"The R270m spent by President Jacob Zuma on his lavish homestead could have very well been used to build up to 13 000 low income houses," she said.

"South Africans deserve a president that sets a good example for the rest of the country to follow."

 - Sapa, Fin24

* Who will be the next woman to follow suit or will it be a man? Add your voice to our Women's Wealth Issue.

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