{"id":270344,"date":"2023-08-31T14:45:53","date_gmt":"2023-08-31T13:45:53","guid":{"rendered":"https:\/\/buzzsouthafrica.com\/?p=270344"},"modified":"2023-08-31T14:45:57","modified_gmt":"2023-08-31T13:45:57","slug":"lunga-ncwanas-biography-and-net-worth","status":"publish","type":"post","link":"https:\/\/buzzsouthafrica.com\/lunga-ncwanas-biography-and-net-worth\/","title":{"rendered":"Lunga Ncwana\u2019s Biography and Net Worth"},"content":{"rendered":"

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).<\/strong><\/p>\n

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.<\/p>\n

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Lunga Ncwana’s Biography Summary<\/strong><\/h3>\n
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  • Full name:<\/strong> Lunga Raymond Ncwana<\/li>\n
  • Gender:<\/strong> Male<\/li>\n
  • Year of birth:<\/strong> 1976<\/li>\n
  • Lunga Ncwana’s Age:<\/strong> 48 years old<\/li>\n
  • Ethnicity:<\/strong> Black<\/li>\n
  • Nationality:<\/strong> South African<\/li>\n
  • Sexual Orientation:<\/strong> Straight<\/li>\n
  • Religion:<\/strong> Christian<\/li>\n
  • Marital Status:<\/strong> Married<\/li>\n
  • Lunga Ncwana’s Wife:<\/strong> Rethabile Lethoko<\/li>\n
  • Lunga Ncwana’s Children:<\/strong> Talitha Ncwana<\/li>\n
  • Lunga Ncwana’s Net worth:<\/strong> $3 million (over R55 million)<\/li>\n
  • Famous for:<\/strong> Being an ANC Youth League member and businessman<\/li>\n<\/ul>\n<\/div><\/div>\n

    What Is Lunga Ncwana’s Age?<\/strong><\/h2>\n

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

    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.<\/p>\n

    Lunga Ncwana Has Held Several Executive Positions<\/strong><\/h2>\n

    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.<\/p>\n

    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.<\/p>\n

    In November 2003, when the board of Rangold & Exploration was reshuffled, Lunga moved<\/a> 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.<\/p>\n

    Businesses Owned by Lunga Ncwana<\/strong><\/h2>\n

    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<\/a> 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.<\/p>\n

    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.<\/p>\n

    List of Lunga Ncwana’s Businesses<\/strong><\/h2>\n
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    • Itsuseng Strategic (co-owner)<\/li>\n
    • Phikoloso company<\/li>\n
    • Equitant company<\/li>\n
    • Lembede (former executive director)<\/li>\n<\/ul>\n

      Lunga Ncwana Sold the National First Division Status of His Football Club in Mid-2023<\/strong><\/h2>\n
      \n

      Motsepe Foundation Championship side All Stars FC is being put up for sale with chairman Lunga Ncwana ready to listen to offers, SABC Sport can reveal.<\/p>\n

      \u270d\ud83c\udffd #SABCSport<\/a>'s @superjourno<\/a><\/p>\n

      Read more\ud83d\udc47\ud83c\udffd https:\/\/t.co\/qrTvln3EYU<\/a>#SABCSportFootball<\/a><\/p>\n

      — SABC Sport (@SABC_Sport) April 5, 2023<\/a><\/p><\/blockquote>\n