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Sandile Zungu

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Sandile Zungu
Born
Sandile Donald Muziwenkosi Zungu

(1967-02-10) 10 February 1967 (age 59)
Umlazi Township, Durban, South Africa
Alma materUniversity of Cape Town, Harvard Business School
OccupationsBusinessman, entrepreneur, philanthropist
Known forFounder of Zungu Investments Company, owner of AmaZulu FC, president of the Black Business Council
Spouses
Zodwa Zungu
​
​
(m. 1991; death 2016)​

Nozipho Magubane
​
(m. 2022)​
Children5
AwardsOutstanding Business Strategy Award (2000)[1]
The Business Map Dealmaker of the Year (1998)[2]
Websitehttps://www.weforum.org/people/sandile-zungu/

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]

Early life and education

[edit]

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

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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)

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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

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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

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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

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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]

Achievements and recognition

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  • 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]

Personal life

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Zungu was married to Zodwa Zungu from 1991 until her death 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.

Philanthropy

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Through the Zodwa Zungu Foundation, Zungu supports cancer-related causes.[28] His township upbringing and church-based programs inspire his community upliftment efforts.[29]

Controversies

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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.[30] In 2025, Sizekhaya Holdings, where Zungu is a key figure, won the R180 billion National Lottery licence, committing to job creation and innovation.[31] Allegations of favouritism linked to ANC figures were dismissed by Sizekhaya and the parliamentary statement issued on Tuesday, 24 June 2025,[32] National Lotteries Commission (NLC) [32] confirming a [33] transparent process.[34]

References

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  1. ↑ "Sandile Zungu". Brand South Africa. Retrieved 27 April 2024.
  2. 1 2 "KZN still home for moneymaker". Independent Online. 28 September 2011. Retrieved 27 April 2024.
  3. ↑ "Board & Shareholders". Seritiza. Retrieved 27 April 2024.
  4. ↑ "Sandile Zungu". Amazulu FC. Retrieved 27 April 2024.
  5. ↑ "Sizekhaya Holdings awarded fourth National Lottery and Sports Pools licence". Independent Online. 28 May 2025. Retrieved 27 April 2024.
  6. ↑ "Black Business Council to hold election for new leadership". Business Day. 10 August 2021. Retrieved 27 April 2024.
  7. 1 2 "Sandile Zungu Profile". eProperty News. Retrieved 28 June 2025.
  8. 1 2 "Sandile Zungu Biography". AmaZulu FC. Retrieved 28 June 2025.
  9. ↑ "Patron". BUSIM Foundation. Retrieved 27 April 2024.
  10. ↑ "Sandile Zungu Biography". The Saga. Retrieved 28 June 2025.
  11. ↑ "Sandile Zungu Bio". Briefly.co.za. Retrieved 28 June 2025.
  12. ↑ "Sandile Muziwenkosi Donald Zungu". MarketScreener. Retrieved 27 April 2024.
  13. ↑ "Case ZACT 2006 (90)" (PDF). SAFLII. Retrieved 27 April 2024.
  14. ↑ "Sandile Zungu Biography". Pindula. Retrieved 28 June 2025.
  15. 1 2 "Investor Profile: Zungu Investments Company". PitchBook. Retrieved 27 April 2024.
  16. ↑ "Sinenjabulo Zungu". Amazulu FC. Retrieved 27 April 2024.
  17. ↑ "R180bn Lotto licence operator: 'We finally have a winner'". News24. 24 May 2025. Retrieved 27 April 2024.
  18. ↑ "Goldrush-backed consortium wins lottery contract but start date remains uncertain". IGaming Africa. Retrieved 27 April 2024.
  19. ↑ "Sizekhaya Holdings Announced as New Lottery Operator". SowetanLIVE. Retrieved 28 June 2025.
  20. ↑ "Sizekhaya Holdings' Ties to ANC Questioned". EWN. Retrieved 28 June 2025.
  21. ↑ "Mashatile Family Tied to Lottery Deal". Daily Maverick. Retrieved 28 June 2025.
  22. ↑ "EOH's Sandile Zungu named non-executive chairman". IOL Business Report. 9 September 2013. Retrieved 27 April 2024.
  23. ↑ "Grindrod announces appointments to the Board". Grindrod. Archived from the original on 28 June 2025. Retrieved 28 June 2025.
  24. 1 2 "Sandile Zungu". Black Business Council. Archived from the original on 28 June 2025. Retrieved 28 June 2025.
  25. ↑ "KZN still home for moneymaker". IOL. 28 September 2011. Archived from the original on 28 June 2025. Retrieved 28 June 2025.
  26. ↑ "B-BBEE Advisory Council". B-BBEE Commission. 21 October 2014. Archived from the original on 28 June 2025. Retrieved 28 June 2025.
  27. ↑ "Sandile Zungu and New Wife". Bona Magazine. Retrieved 28 June 2025.
  28. ↑ "Sandile Zungu". Black Business Council. Archived from the original on 28 June 2025. Retrieved 28 June 2025.
  29. ↑ "KZN still home for moneymaker". IOL. 28 September 2011. Archived from the original on 28 June 2025. Retrieved 28 June 2025.
  30. ↑ "Sandile Zungu to challenge for chairperson role at ANC KZN conference". IOL. 12 July 2022. Archived from the original on 28 June 2025. Retrieved 28 June 2025.
  31. ↑ "National Lotteries Commission awards new eight-year licence to Sizekhaya Holdings". The Citizen. 13 June 2025. Archived from the original on 28 June 2025. Retrieved 28 June 2025.
  32. 1 2 "Media Statement: Committee notes the National Lottery licence award process and explanation of conflict of interest questions". South African Parliament. Retrieved 27 April 2024.
  33. ↑ "Statement on 4th Lotto License" (PDF). National Lotteries Commission South Africa. Retrieved 27 April 2024.
  34. ↑ "New SA lottery operator announced, but suspicions linger over political connections". News24. 12 June 2025. Archived from the original on 28 June 2025. Retrieved 28 June 2025.
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