Cape Town - President Cyril Ramaphosa has expressed condolences to the family, friends and colleagues of business leader Dr Richard Maponya after he died at the age of 99 in the early hours of Monday.
“We have lost a pioneer, a trailblazer and a man of extraordinary fortitude who paved the way for the racial transformation of the South African economy,” Ramaphosa said in a statement released by the Presidency.
“Dr Maponya’s life is a testament to resilience, determination and the power of vision: namely to see black business grow to assume its full role as the key participant and driver of our economy.”
Maponya’s business career spanned over 50 years. He began in the retail sector in the 1950s when he and his wife Marina opened a milk distribution company in Soweto.
Over the years, their business empire included interests in retail, automotive, filling stations and property development.