After the South African elections in April 1994, Sexwale was elected as the first premier of the new PWV Province (renamed Gauteng Province in December 1994). In this role, he was credited with bringing peace to several politically volatile townships. Sexwale left politics for the corporate sector in 1998. The reasons for this were never made completely clear, but was reportedly due to feeling stifled by central government restrictions as well as becoming exhausted by internal African National Congress intrigues. Further speculation is that Sexwale left politics due to strong disagreements with the then Vice-President of South Africa, Thabo Mbeki. Other speculation is that his marriage opened business opportunities in the white-dominated financial sectors that allowed him opportunities not open to other black leaders. Sexwale, Cyril Ramaphosa and Mbeki were possible candidates jostling for the presidency after Mandela stepped down. Once Thabo Mbeki appeared as the favourite candidate, both Sexwale and Ramaphosa left politics to follow successful careers as businessmen.