Sexwale to resign from chair of Mvelaphanda

Tokyo Sexwale, sworn in on Monday as Minister of Human Settlements (formerly known as Housing), is planning to quit his post as executive chairperson of the Mvelaphanda Group.

The government news service, BuaNews, quoted Sexwale’s spokesperson Chris Vick as saying on Tuesday: “Yes, that is correct, he will be resigning.”

An official announcement regarding the minister’s business interests and all his companies will only be made later this week once he has consulted his lawyers on the way forward.

“One of his companies is listed on the JSE and there is a process to be followed in as far as that is concerned,” Vick said.

Sexwale founded Mvelaphanda Holdings, a company mainly focussed on the mining and energy sectors, after resigning as premier of Gauteng in 1998.—I-Net Bridge


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