Mtshotshisa was a successful businesswoman who held several chairmanships and directorships.
She was the first African female chairperson of the New York Stock Exchange-listed Telkom.
Sixty-three-year-old Mtshotshisa held a nursing degree and also worked in the legal field.
Mtshotshisa would possibly be buried in East London next weekend but funeral arrangements were still being finalised, family spokesperson Zolane Mtshotshisa told SABC news.
Motshotshisa is survived by a daughter.