Newly elected ANC president and likely next president of the republic, Cyril Ramaphosa, is no stranger to the pages of Noseweek. Since 2005 we have tracked his rise – which is largely backed by corporate South Africa. They would hand him cash and he would provide political cover. Many have argued that he has been essentially a political negotiator-for-hire to the highest corporate bidder.
In April 2005 (nose66), Noseweek introduced its readers to the new black oligarchs: Ramaphosa, Tokyo Sexwale, Saki Macozoma and Patrice Motsepe. We called them the “jaga” – a Malay word that translates into “gatekeeper” – as this is what they were doing, controlling access to the banks and insurance companies while being supported and sustained by older capital.