Naspers South Africa CEO Phuthi Mahanyele-Dabengwa has gained widespread attention after selling shares worth R240 million in the company.
Phuthi Mahanyele-Dabengwa makes headlines with massive Naspers share sale
The move came as part of a routine financial transaction to settle taxes and related costs.
According to Tech Central, the share sale was disclosed in a statement issued via the Johannesburg Stock Exchange (JSE).
The statement said Mahanyele-Dabengwa sold 42,305 Naspers N ordinary shares and retained 9,999 shares. The average price per share was about R5,663.84.
The shares sold were part of various stock option awards granted between 2020 and 2023.
Stock options are a type of financial benefit given to executives that allow them to buy company shares at a set price after a certain period. Once the shares increase in value, the executive can sell them for a profit.
What is her background?
Phuthi Mahanyele-Dabengwa was born in Soweto and left South Africa at age 17 to study in the United States.
She completed her degree in Economics at Rutgers University and later earned a Master of Business Administration (MBA) from De Montfort University in the UK.
She started her career in investment banking in New York before returning to South Africa.
Over the years, she held top roles at major organisations such as the Development Bank of Southern Africa and Shanduka Group, which was founded by Cyril Ramaphosa. She later co-founded Sigma Capital, a private investment firm.
In July 2019, she made history by becoming Naspers South Africa’s first black and first female CEO.
Recognitions and leadership roles
Mahanyele-Dabengwa has received numerous awards throughout her career. These include Forbes’ Woman Africa’s Business Woman of the Year and featuring in the Wall Street Journal’s Top 50 Women in the World to Watch.
She also sits on several boards, including Vodacom, Discovery Insure, and Gold Fields.
Beyond corporate boardrooms, she has participated in global discussions on business and leadership.
She was the only African woman on a US-Africa business panel moderated by former US President Bill Clinton in 2014.