Lunga Ncwana’s Biography and Net Worth

Lunga Ncwana is a 48 year-old ANC Youth League member and businessman born in 1976. The co-owner of Itsuseng Strategic Investment has an estimated net worth of $3 million (over R55 million).

In the early 2000s, Lunga emerged as a senior member of the African National Congress youth wing (ANCYL) in the Western Cape. Through his political position, he got appointed to several executive roles at companies linked to the slain mining magnate, Brett Kebble, including Rangold & Exploration. In addition to being a part-owner of Itsuseng Strategic Investment, he was the owner of All Stars FC before selling it to Black Leopards.

Lunga Ncwana’s Biography Summary

  • Full name: Lunga Raymond Ncwana
  • Gender: Male
  • Year of birth: 1976
  • Lunga Ncwana’s Age: 48 years old
  • Ethnicity: Black
  • Nationality: South African
  • Sexual Orientation: Straight
  • Religion: Christian
  • Marital Status: Married
  • Lunga Ncwana’s Wife: Rethabile Lethoko
  • Lunga Ncwana’s Children: Talitha Ncwana
  • Lunga Ncwana’s Net worth: $3 million (over R55 million)
  • Famous for: Being an ANC Youth League member and businessman

What Is Lunga Ncwana’s Age?

Lunga Ncwana is 48 years old. He was born in Khayelitsha, a township outside Cape Town, in the year 1976. His birthday, however, is yet to be known as the political figure has kept his personal profile secret.

In a bid to maintain a low-key status, he presently doesn’t have any social media account. Thus, details about his early life, parents, and siblings are yet to be made available in the media.

Lunga Ncwana Has Held Several Executive Positions

Though not occupying any leadership position in the ANC Youth League, Lunga Ncwana’s eloquence and confidence have given him the privilege of working together with the elites in the ruling party. Thus, he is considered one of the top members of the youth wing.

Prior to the sudden demise of the South African mining tycoon Brett Kebble, Lunga Ncwana was a board member in more than five companies linked to the renowned business executive. He was the chairperson of Boschendal Winery, director of Boschendal Holdings, non-executive director of Rangold & Exploration, and director of Rand Lease Properties and Tradek Holdings.

In November 2003, when the board of Rangold & Exploration was reshuffled, Lunga moved from working as an independent non-executive director to a non-executive director. He was also a former board member of Lyons Financial Solutions Hldg.

Businesses Owned by Lunga Ncwana

Lunga Ncwana is said to be co-owner of Itsuseng Strategic Investment along with Andile Nlhulu, another heavyweight ANCYL member. In March 2006, Lunga Ncwana’s company, Itsuseng Strategic Investment, was implicated in the court papers filed by Rangold & Exploration in an alleged fraud case. Rangold & Exploration sold 20% of its stake to Phikoloso company in an empowerment deal.

As part of the deal, Equitant (a company owned by Phikoloso) sold Viking Pony (another company) for Rangold & Exploration shares valued at R268 million. However, Viking Pony was discovered to have owned no assets, though it was supposed to hold shares and other assets. Then, Equitant company, headed by Lunga Ncwana and his company, Itsuseng, were alleged to have fraudulently received Rangold & Exploration shares through the empowerment deal.

List of Lunga Ncwana’s Businesses

  • Itsuseng Strategic (co-owner)
  • Phikoloso company
  • Equitant company
  • Lembede (former executive director)

Lunga Ncwana Sold the National First Division Status of His Football Club in Mid-2023

In November 2010, Lunga Ncwana transitioned into a football club owner following the purchase of Cape Town All Stars, which he launched in his hometown of Khayelitsha. Later, in 2018, the businessman sold the club’s National First Division league status to the then-third tier, TS Galaxy. He, however, bought the status back from Galaxy two years later.

At the start of the 2022/2023 season, Cape Town All Stars relocated from Cape Town to Johannesburg and was renamed All Stars FC. The football club, along the line, started experiencing financial woes, and the 48-year-old was forced to consider selling the club again. In July 2023, he reportedly finalized the sales of All Stars’ National First Division license to Black Leopards, who finished bottom of the league and were facing relegation.

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Lunga Ncwana allegedly sold his club’s NFD status for a fee estimated to be between R6 million and R11 million. Even though he seems to have lost interest in the football business, there’s a possibility he might purchase back the club’s NFD status in the future.

Lunga Ncwana’s Net Worth

Lunga Ncwana’s net worth is estimated at $3 million (over R55 million). Over the years, the ANCYL member has been involved in controversial businesses linked to the ruling party, which reportedly account for his multi-millionaire status. Following the death of Brett Kebble, it was disclosed that Lunga was one of the several prominent business people and politicians to have benefited from his generosity.

He was said to have received a total of R6.5 million from Kebble between February 2004 and September 2005 when the business tycoon was shot in his car. Also, Lunga Ncwana was implicated in the CPS-SASSA deal scandal. Lunga, who was close to the former Social Development Minister, Bathabile Dlamini, was given the offer to find a BEE vehicle that was to partner with Cash Payment Services (CPS) to distribute the social grant.

In 2012, the contract was awarded to CPS, and Ncwana’s close friend, Brian Mosehla, was the BEE partner in the deal from which Brian allegedly pocketed R83 million. Later on, it was reported that Lunga Ncwana hugely benefitted from the deal, having fronted his friend as the CPS’ BEE partner. Furthermore, Ncwana added to his wealth in 2005 when his company, Itsuseng, was listed as one of the hand-picked group of 17 companies to benefit from the disputed deal involving prime beachfront land.

Itsuseng directly benefitted from the sales of the properties at Big Bay. In terms of the Big Bay property deal, Lunga’s company was allocated four plots valued at over R4.4 million, and Lembede, which is majority-owned by Lembede Investment Holdings―the ANC youth wing investment arm, also had equal allocation with Itsuseng.

Lunga Ncwana is said to have made most of his wealth from the diverse black empowerment deals he struck with Brett Kebble through his company, Itsuseng. And oftentimes, he shows off his affluence through his smart dressing as he is reportedly a regular visitor at Fabiani – one of the most expensive designer boutiques in Cape Town.

Lunga Ncwana’s House

Having been a private person, there are vague details regarding Lunga Ncwana’s house. Nonetheless, it was reported that his then-fiancée, Rethabile Lethoko, moved out of his home in Cape Town, where they were living together in 2021. Though the features of the house were not given at the time, the ANCYL heavyweight is believed to be living in a megamansion.

Lunga Ncwana’s Cars

In 2005, Lunga Ncwana was said to be driving around Cape Town with a state-of-the-art Porsche valued at over R2.5 million. Then, in 2019, he reportedly gifted his partner, Rethabile Lethoko, a sports car. Also, in 2023, his alleged wife, Rethabile, was spotted with a R4.5 million Ferrari 458 Vorsteiner VX in Franschhoek, Western Cape.

When asked about what she does for a living to afford such an expensive car, the model retorted that she is a stay-at-home wife and mother.

Who Is Lunga Ncwana’s Wife?

Lunga Ncwana reportedly got married to Rethabile Lethoko, a South African model and entrepreneur, in 2022. It was his second marriage, as he previously tied the knot with swimsuit model Rosette Mogomotsi on March 21, 2015. Their failed marriage allegedly produced a child, Talitha Ncwana.

Lunga and Rosette’s daughter, Talitha, was born on December 1st, 2015, and is presently 8 years old. Lunga Ncwana separated from his first wife in 2019 but is still legally married to her as they are yet to initiate a divorce proceeding. He later got engaged to Rethabile, and even though their engagement was reported to have been called off by the model in 2021, Musa Khawula disclosed in May 2022 that the businessman had traditionally wedded his fiancée.

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