South Africa’s Madlanga Commission shown Sibanyoni video appeal over 30% of Putco — Daily Maverick
South Africa’s Madlanga Commission was shown a video in which Joe “Ferrari” Sibanyoni addresses President Cyril Ramaphosa and Minister of Mineral and Petroleum Resources Gwede Mantashe regarding a 30% stake in the bus company Putco. As Daily Maverick reports, Sibanyoni said he represented the KwaNdebele community and was negotiating with Putco, which has operated in the area for 43 years.
In the recording, he told Ramaphosa and Mantashe that his group faced bureaucratic obstacles and asked for their support. Sibanyoni also said that those who would interfere in Putco’s business should know that “it is us.” He added that his group also intended to make an approach regarding mines.
Contract with Putco
A representative of the commission, advocate Matthew Chaskalson, said that Gauteng Central Bus Services had been working with Putco since 2019 or 2020 and had been its subcontractor even before Sibanyoni became involved. The chair of the commission asked why he had intervened in an existing commercial relationship.
Sibanyoni replied that he had acted in the interests of Gauteng Central Bus Services because, in his view, Putco’s payment of 50,000 rand per bus did not cover financial and operating costs. He sought to increase the amount to approximately 90,000 rand per bus. They also discussed a new agreement that would allow Gauteng Central Bus Services to purchase buses, as well as sponsorship support for the community and traditional leaders and assistance for development.
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Arson attacks and purchase offer
The commission also examined surveillance camera footage from Putco’s depot in Moloto. It showed armed men holding workers at gunpoint and setting buses on fire on January 27, 2025, after dousing them with flammable liquid. A total of 51 Putco buses burned at three depots.
Sibanyoni denied involvement in the attacks and, without evidence, suggested that the company might have set the buses on fire itself amid labour or industry disputes. Chaskalson responded that Putco had neither a strike nor an industry dispute at the time.
During his testimony, Sibanyoni initially denied approaching Putco about buying the company. He later acknowledged that Taxichoice, an entity affiliated with the South African National Taxi Council, had approached Putco in 2024 with the intention of buying it. On February 25, 2025, Taxichoice sent an offer to buy a stake or the entire business, but Putco replied that it was not for sale. The company also named a non-refundable payment of 100 million rand and a cash guarantee for shareholders of at least 2 billion rand as conditions for considering the interest. According to Sibanyoni, after that response, they decided not to pursue the matter.
According to the publication, Sibanyoni, his associate Oupi Bafani Sindane, and two other people have been charged with extortion and money laundering in the KwaGgafontein Magistrate’s Court in Mpumalanga province.
