Ramaphosa sells Mcdonald's South Africa

Thembinkosi Bonakele, Commissioner of the Competition Commission confirmed on Tuesday that Deputy President Cyril Ramaphosa has sold Mcdonald's South Africa to MSA Holdings, a company based in the Emirates.

According to Bonakele, this is part of Cyril Ramaphosa's restructuring of assets when he announced earlier in the year that he will be selling some of his businesses.

Ramaphosa is the founder of the Shanduka Group.

Indeed we have approved the transaction. It was an immediate transaction and we have the authority to approve that.

Thembinkosi Bonakele, Commissioner of the Competition Commission

Ramaphosa was awarded a 20-year agreement to run the 145 McDonald's restaurants in South Africa.

Bonakele added that MSA Holdings is not involved in restaurant business in South Africa which means there will be no competition issues with them.

Listen to the full conversation below:

Read More
Ad Feature: Creative technology just got cheaper

Ad Feature: Creative technology just got cheaper

Jonathan Cherry speaks of how creating good content is now cheaper compared to previous years where lots of money was spent.

What actually goes into the cost of a plumbing call out?

What actually goes into the cost of a plumbing call out?

Due to the high costs of plumbing services, CapeTalk's Kieno Kammies speaks to the Institute of Plumbing South Africa.

An increase in personal taxes predicted when Gordhan delivers his budget speech

An increase in personal taxes predicted when Gordhan delivers his budget speech

Finance Minister, Pravin Gordhan is expected to deliver his 2017 budget speech in Parliament on Wednesday.

City aims to save 10% of both electricity and water by 2020

City aims to save 10% of both electricity and water by 2020

MEC of Economic Opportunities, Alan Winde urges residents to get into a habit of recycling and start saving water and electricity.

JSE competitor nails its first listing of agri-business

JSE competitor nails its first listing of agri-business

CEO of ZAR X speaks to CapeTalk's Kieno Kammies about the operations of ZAR X and how it will benefit fellow South Africans.

#StandUp for education, meals and smiles

#StandUp for education, meals and smiles

Chris Bertish, the famous big wave surfer is on a campaign to raise R20 million for 3 charities and it launches today.

Popular articles
Eusebius McKaiser: Where the hell were you in the making of JZ, Mathews Phosa?

Eusebius McKaiser: Where the hell were you in the making of JZ, Mathews Phosa?

Eusebius McKaiser uses Open Line to send a message to former ANC Treasury who has recently urged Zuma to step down.

Does God exist? A debate

Does God exist? A debate

Eusebius McKaiser hosted a heated debate on God's existence with atheist Jacques Rousseau and believer Mahlatse Winston Mashua.

Sars officials sniff out 271kg of cocaine in biggest bust to date

Sars officials sniff out 271kg of cocaine in biggest bust to date

Cocaine weighing 271kg, with an estimated street value of R78 million, was confiscated by Sars officials at the OR Tambo Airport.

How Airbnb has made renting in Cape Town even more pricey

How Airbnb has made renting in Cape Town even more pricey

Property management company PayProp argues that Airbnb has driven down rental availability and driven up rental prices in the CBD.