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
Metrorail beefs up security to protect staff and commuters

Metrorail beefs up security to protect staff and commuters

Due to ongoing intimidation and attacks on employees and commuters, 50 armed security guards have been deployed on trains.

Tips on how to be a leader rather than a manager

Tips on how to be a leader rather than a manager

There is a vast difference between a manager and a leader says business lecturer Babita Mathur-Helm and micromanaging is a no no.

September Tourism Month to include more tradition and culture

September Tourism Month to include more tradition and culture

The Minister outlined her plan of action which her department has in place in order to have a successful campaign.

How to deal with unscrupulous tow truck operators

How to deal with unscrupulous tow truck operators

What do you do when charged R10 000 by a tow truck operator who refuses to release your car unless you pay that amount in cash?

Eskom, Denel, Transnet, Gupta's and Zuma son in Parly's inquiry sights

Eskom, Denel, Transnet, Gupta's and Zuma son in Parly's inquiry sights

Transnet and Denel are some of the SOE's that will be invited to appear before the Parliamentary Portfolio Committee.

Is Zuma pulling a Putin on South Africa?

Is Zuma pulling a Putin on South Africa?

Expert on Russia, Dr Sara Pienaar, looks at some of the similarities in the way Putin and Zuma run their countries.

Popular articles
Getting to know MP, Dr Makhosi Khoza

Getting to know MP, Dr Makhosi Khoza

Dr Khoza is admired by South Africans for her role in the SABC inquiry as a ANC member of parliament.

No escaping the tax man even if you work outside SA

No escaping the tax man even if you work outside SA

Government is intending to change the way foreign income is taxed by introducing taxes to a large South African diaspora.

Earn peanuts? How to best invest very small amounts...

Earn peanuts? How to best invest very small amounts...

Got a spare R200 or R300 a month? Here’s how to make that money work hard and grow…

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

How to make your first million

How to make your first million

Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?