Sandile Zungu

Sandile Donald Muziwenkosi Zungu (born 10 February 1967) is a South African businessman, entrepreneur, and philanthropist. He is the founder and executive chairman of Zungu Investments Company (Zico), owner of AmaZulu Football Club, and a key figure in Sizekhaya Holdings, the consortium awarded South Africa’s National Lottery licence in 2025. As president 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.

Early life and education 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 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.

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.

Early career From 1989 to 1994, Zungu held engineering roles 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 SARHWU Investment Holdings, 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.

Zungu Investments Company (Zico) In 2002, Zungu founded Zungu Investments Company (Zico), a diversified industrial holdings firm with interests in education, manufacturing, property, sports, forensics, gaming, and resources. Zico’s portfolio includes stakes in Rockwell Diamonds Inc., Sereti Resources Holding Pty Ltd., and Coza Mining. serves as CEO of AmaZulu FC. over eight years, replacing Ithuba Holdings. Sizekhaya, partly owned 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.

Other Roles Zungu is Chancellor of Mangosuthu University of Technology (since 2022) and was chairman of EOH Holdings. He serves as a non-executive director of Grindrod Limited 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. 2000: Won the Outstanding Business Strategy Award at the 6th World Young Business Achievers finals in Florida, USA. Featured in Financial Mail’s Little Black Book, profiling South Africa’s 300 most influential Black individuals.

Personal life 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.

He resides in Durban, Albert Town, and the Zungu Wedding and Conference Center.

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

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