[miningmx.com] – THE business transparency attempted by South African deputy president, Cyril Ramaphosa, has been questioned, according to an article by City Press which cited an attorney.
Attorney and tax practitioner Andrew Duncan, told the newspaper that, technically, there was no such thing as a blind trust in South Africa. Ramaphosa announced last week that he intended to merge his business interests with those of Pembani Group which is owned by Phuthuma Nhleko.
However, assets that were not regulated by government – subject to state policies such as mining assets – would be placed in a blind trust such that Ramaphosa would be unaware of the details of the investments.
“If the trustees were completely independent and have had no link to Ramaphosa at all, then this approach could be considered a blind trust,” Duncan told City Press.
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