KZN tycoons strike gold as Sizekhaya Holdings secures National Lottery contract
KwaZulu-Natal business heavyweights Moses Tembe and Sandile Zungu have hit the jackpot as their consortium, Sizekhaya Holdings, was named the new operator of South Africa’s National Lottery, ousting Ithuba Holdings after a decade of management since 2015.
The announcement, made by Minister of Trade, Industry, and Competition Parks Tau, marks a significant win for the duo, with Sizekhaya set to oversee the R180 billion, eight-year licence starting June 2026.
Backed by a 50% stake from JSE-listed Goldrush Group’s subsidiary, Sizekhaya emerged victorious in a fierce bidding war involving eight consortia.
The group has partnered with Genlot, a Shenzhen-based lottery giant with a 19% global market share, to ensure a seamless transition. Ithuba will operate under a temporary licence from June 1, 2025, to May 31, 2026, before handing over the reins.
However, the victory has not been without controversy. Political parties, including the EFF and BOSA, have questioned the transparency of the process, pointing to Zungu’s ANC connections as a potential conflict of interest.
Legal battles are also brewing, with Tau seeking to challenge a High Court ruling on the temporary licence.
As Tembe and Zungu prepare to steer the lottery into a new era, the spotlight remains on whether Sizekhaya can deliver on its promise amid swirling allegations and public scrutiny.