JOHANNESBURG, Sept 2: Nelson Mandela has signed an agreement with Oxford University Press to help raise money for scholarships.

Under the deal the former South African president signed on Tuesday in Johannesburg, his Mandela Rhodes Foundation becomes a 25.1 per cent owner of the South African arm of the press. Dividends the foundation earns will fund scholarships.

Officials from the press and the foundation refused to say how much the foundation paid for the shares, but called it a “mutually beneficial business deal.”

The foundation offers full scholarships for university study in South Africa.—AP