When Mzukona Mantshontsho approached a real estate agent about buying a two-bedroom, 300,000 rand ($37,500) house in a new development south of Johannesburg this year, she told him he’d need a 10 percent deposit for his application to be considered, and his salary was too low.
Mvelaphanda Holdings Ltd., the South African company founded by former freedom fighter Tokyo Sexwale , is advising Khulubuse Zuma on the development of two oil blocks in eastern Congo, Chief Executive Officer Mark Willcox said.
Prudence Moime looks up from stirring a pot of corn meal in front of her two-room shanty in northeastern South Africa and gazes across the surrounding rocky hillside. Just beyond her view lie some of the world’s best platinum deposits.
Cecily Ghall speaks with pride about the neat, whitewashed two-room shack she built in an acquaintance’s backyard using scrap wooden planks and asbestos plates. It’s warm and -- important in the midst of a wet South African winter -- dry, she says. But it isn’t hers.
The involvement of South African President Jacob Zuma ’s family in a series of controversial business deals has fueled anger among labor unions, whose support helped propel Zuma to power last year, at a time when one in four South Africans is unemployed.