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Sandile Zungu
From Wikipedia, the free encyclopedia
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Sandile Donald Muziwenkosi Zungu (born 10 February 1967) is a South African businessman, entrepreneur, and philanthropist. He is the founder [3] and executive chairman of Zungu Investments Company (Zico), owner[4] of AmaZulu Football Club, and a key figure in Sizekhaya Holdings, the consortium awarded[5] South Africa’s National Lottery licence in 2025. As president[6] of the Black Business Council and a member of the BRICS Business Council, Zungu is recognized for his contributions to black economic empowerment and South African commerce.[7][8]
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Early life and education
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Sandile Zungu was born in Umlazi Township, Durban, South Africa, on 10 February 1967. Raised in a modest environment, he attended Mafukuzela Primary School and Mafumbuka, a school for high-achieving students. He matriculated from Vukuzakhe High School in 1983, earning recognition[9] in the KwaZulu-Natal regional finals of the Old Mutual National Science Olympiad. In 1984, he completed post-matric studies at elite Hilton College, South Africa, where socio-economic disparities shaped his perspective.[10]
Zungu earned a Bachelor of Science in Mechanical Engineering from the University of Cape Town (UCT) in 1988 and a Master of Business Administration (MBA) from UCT’s Graduate School of Business in 1995. In 2000, he completed the Program for Global Leadership at Harvard Business School.[11]
Early career
From 1989 to 1994, Zungu held engineering roles [2] at Richards Bay Minerals, Engen Refinery, National Sorghum Breweries, and South African Breweries. In 1995, he joined African Merchant Bank as an associate. In 1997, he founded[12] SARHWU Investment Holdings,[13] growing its net asset value to over R400 million. He later served as executive director at NAIL, contributing to its growth into a R1 billion media company by 2001.[14]
Zungu Investments Company (Zico)
In 2002, Zungu founded Zungu Investments Company (Zico), a diversified industrial holdings firm with interests in education, manufacturing, property, sports, forensics, gaming, and resources.[15] Zico’s portfolio includes stakes in Rockwell Diamonds Inc., Sereti Resources Holding Pty Ltd., and Coza Mining.[15]
AmaZulu Football Club
In October 2020, Zungu acquired AmaZulu Football Club. Under his leadership, the club achieved a second-place finish in the DStv Premiership in the 2020–21 season, qualifying for the CAF Champions League. His daughter, Sinenjabulo Zungu,[16] serves as CEO of AmaZulu FC.[8]
Sizekhaya Holdings
In May 2025, Zungu, with businessman Moses Tembe, led Sizekhaya Holdings to secure South Africa’s National Lottery and Sports Pools licence, valued at R180 billion[17] over eight years, replacing Ithuba Holdings. Sizekhaya, partly owned[18] by Goldrush Group (50%), was selected after a competitive bidding process. The decision faced scrutiny over alleged political ties, particularly Zungu’s past ANC affiliations and links to Deputy President Paul Mashatile via Bellamont Gaming, a Sizekhaya shareholder. Opposition parties, including the EFF and BOSA, questioned the tender’s transparency.[19][20][21]
Other Roles
Zungu is Chancellor of Mangosuthu University of Technology (since 2022) and was chairman[22] of EOH Holdings. He serves as a non-executive director of Grindrod Limited[23] and Novus Holdings. As president of the Black Business Council, he advocates for inclusive economic growth. He is a member of the BRICS Business Council and a World Economic Forum Young Global Leader.[7]
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Achievements and recognition
- 1998: Named The Business Map Dealmaker of the Year for leading SARHWU Investment Holdings.[24]
- 2000: Won the Outstanding Business Strategy Award at the 6th World Young Business Achievers finals in Florida, USA.[25]
- Featured in Financial Mail’s Little Black Book, profiling South Africa’s 300 most influential Black individuals.[24]
- Appointed to the Presidential Black Economic Empowerment Advisory Council.[26]
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Personal life
Zungu was married to Zodwa Zungu from 1991 until her passing in 2016 from cancer. They had four children: Mfundo, Lwazi, Vuyo, and Sinenjabulo. In June 2022, he married Nozipho Magubane, and they welcomed a daughter, Nobuholi Nala Zungu, in May 2023. He was briefly engaged to Slindile “Slee” Wendy Ndlovu from 2016 to 2022.[27]
He resides in Durban, Albert Town, and the Zungu Wedding and Conference Center. His car collection includes a Bentley Continental GT, Mercedes-Benz CLA, and BMW 760li. His estimated net worth is $13 million (approximately R226 million).[28]
Philanthropy
Through the Zodwa Zungu Foundation, Zungu supports cancer-related causes.[29] His township upbringing and church-based programs inspire his community upliftment efforts.[30]
Controversies
In 2022, Sandile Zungu, a prominent South African businessman and AmaZulu FC owner, campaigned for the ANC KwaZulu-Natal provincial chairperson role, promoting job creation and party unity before withdrawing to prioritize ANC cohesion.[31] In 2025, Sizekhaya Holdings, where Zungu is a key figure, won the R180 billion National Lottery licence, committing to job creation and innovation.[32] Allegations of favouritism linked to ANC figures were dismissed by Sizekhaya and the parliamentary statement issued on Tuesday, 24 June 2025,[33] National Lotteries Commission (NLC) [33] confirming a [34] transparent process.[35]
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References
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