Over two-thirds of Agang SA leader Mamphela Ramphele’s R55-million wealth reportedly came from BEE deals.
Ramphele, who decried current BEE policies as “failed” on the Agang SA website, made R40-million from empowerment deals, The Star reported.
“The way BEE has been applied has failed in its primary purpose of transforming the economy but has created high compliance costs and only enriched a tiny politically connected elite,” read an entry on the party’s website.
Ramphele was reportedly given shares in Medi-Clinic, Nashua Western Cape, Solar Capital, Pearsons and EduLoan, selling the Nashua and EduLoan shares since then.
Ramphele’s spokesperson Adi Mistry-Frost confirmed that she made R40-million through BEE deals, but refuted claims that she was a hypocrite.
“With the exception of Pearsons, the BEE deals Dr Ramphele has been involved in were part of her remuneration as a chairperson or director.”
Ramphele declared her R55-million wealth earlier this week, challenging President Jacob Zuma to open his financial affairs to scrutiny as well.