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
2010: Aden Thomas recalls the 2010 World Cup euphoria

2010: Aden Thomas recalls the 2010 World Cup euphoria

In 2010, all eyes were on SA as we hosted soccer's biggest event. Aden Thomas recalls that month as we celebrate 20 years of CapeTalk.

UCT engineering student creates affordable grey water system

UCT engineering student creates affordable grey water system

Nkosinathi Nkomo came up with a system that could turn grey water into usable water amidst the Cape Town water crisis.

'Gang violence is a social issue and won't be solved through security measures'

'Gang violence is a social issue and won't be solved through security measures'

Director of the Trauma Centre, Valdi Van Reenen-Le Roux says economic transformation is very crucial in ending gang violence.

Dudu Myeni gets kicked off SAA board

Dudu Myeni gets kicked off SAA board

Aviation expert, Guy Leitch says the changes came as a pleasant surprise because SAA has incurred unprecedented losses under Myeni.

2009: Bruce Whitfield recalls the financial crisis

2009: Bruce Whitfield recalls the financial crisis

As we look back on 20 years of CapeTalk, The Money Show's Bruce Whitfield recalls the events that shook the financial system across the globe.

WC Soc Dev dismisses claims of dragging feet in child abuse cases

WC Soc Dev dismisses claims of dragging feet in child abuse cases

Listen to MEC Albert Fritz outlining some of the challenges social workers go through when intervening in child abuse cases.

Popular articles
LISTEN: Gerrie Nel on why he's persuing prosecution against Duduzane Zuma

LISTEN: Gerrie Nel on why he's persuing prosecution against Duduzane Zuma

AfriForum will prosecute Duduzane Zuma after NPA declined to do so in 2015 following a 2014 accident where a woman died.

How we invented the modern concept of sleep

How we invented the modern concept of sleep

Dr Bodhisattva Kar reveals how industrial capitalism influenced the world's current sleep patterns.

Hassen Adams (he brought Burger King and Dunkin’ Donuts to SA) talks money

Hassen Adams (he brought Burger King and Dunkin’ Donuts to SA) talks money

The Money Show’s Bruce Whitfield interviews Adams about his attitude to money (hopes and fears, successes and failures, etc.).

Kloof Street residents living in fear as crime multiplies

Kloof Street residents living in fear as crime multiplies

A Cape Town man was stabbed to death on Saturday while trying to assist two women who were being mugged on Kloof street.

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.