Ramaphosa mourns the passing of businessman Richard Maponya
President Cyril Ramaphosa has expressed his condolences to the family of businessman Richard Maponya following his passing in the early hours of Monday morning.
In a statement, Ramaphosa said Maponya was widely respected as "the doyen of black business."
“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.
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“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,” Ramaphosa said.
Maponya’s business career spanned over half a century and began in the retail sector in the 1950s when he and his wife Marina opened a milk distribution company in Soweto.
Together they expanded their business empire to include interests in retail, automotive, filling stations and property development.
“He was of that rare breed of entrepreneurs who would not be held back or become disheartened by difficult operating conditions – in fact, having obstacles put in his path drove him even further to succeed,” the President said.
Maponya was a founding member of the National African Federated Chamber of Commerce (NAFCOC) and chairman of the African Chamber of Commerce. He actively sought to capacitate nascent black businesses and variously lent his support to entrepreneurship ventures, particularly in Soweto.
The President said Maponya’s success was the combination of natural business acumen and sheer hard work – encouraging countless black businessmen and businesswomen to take up opportunities even in the face of difficulties.
"In this process, he set powerful examples in tenacity, inspiration, and innovation not just to black entrepreneurs but to business persons from all parts of South African society, as well as to continental compatriots with whom he developed close partnerships and networks," said Ramaphosa.
“He understood that to get to the top, one has to begin at the very bottom. He began his career as a stock taker, and today, over 50 years later, the Maponya Mall in Soweto stands as a towering symbol of perseverance and achievement,” the President added.
“Dr Maponya embodied sustainability and corporate social responsibility and investment well before these concepts were academically defined. He was a patriot who believed in the power of building businesses that build communities.”