Dive into his diverse empire spanning mining, telecoms, and beyond, illuminating the power of resilience and vision. The following year, he increased his stake from 51% to 100%, and officially renamed the club, Mamelodi Sundowns. ARC began to invest in what would ultimately be more than 40 companies including https://personal.nedbank.co.za/ banking rookie, Tymebank, and telecommunications startup, Rain.
Sanlam and Ubuntu-Botho Investments
By investing in education, healthcare, and poverty alleviation, Motsepe actively participates in efforts to address some of the continent’s most pressing challenges. His philanthropic sasol south africa endeavours highlight the social responsibility of successful individuals and serve as a model for giving back to the community. Patrice Motsepe’s ascent in the business world was marked by the 2002 public offering of African Rainbow Minerals (ARM). This company held diverse mining interests in platinum, coal, iron, copper, and gold.
New Plan to Reduce Smartphone Prices in South Africa: What to Expect
- Alongside his wife, Dr. Precious Moloi-Motsepe, he established the Motsepe Foundation, a charitable organization dedicated to addressing various social and development challenges across Africa.
- Patrice Motsepe serves on the boards of several companies and holds directorships in various organizations.
- This exploration of all the companies Patrice Motsepe owns reveals a legacy built on resilience, innovation, and forward-thinking leadership.
He acquired a substantial 37% stake in the Pretoria-based Blue Bulls Company, becoming a co-owner alongside Remgro and the Blue Bulls Rugby Union. The 2023 financial year proved highly fruitful for African Rainbow Capital (ARC), witnessing a significant increase in the company’s intrinsic value. Notable investments included R81 million in the mobile communications company Rain, as well as a https://www.absa.co.za/ combined R664 million in TymeBank and Tyme Global through Tyme SA Holdings and Tyme Group Africa. Patrice Motsepe, an iconic figure in the African business landscape, has amassed a staggering fortune through his diverse portfolio of investments. The Prudential Authority of the South African Reserve Bank (SARB), granted permission for TymeBank to operate exclusively online on 28 September 2017.
Best virtual networks in South Africa
BEE policies aim to address historical inequalities by promoting the participation of black South Africans in the country’s economy. Motsepe’s success demonstrates the potential for black entrepreneurs to excel in various sectors, challenging traditional power structures and promoting inclusivity. His ability to diversify his investments across various sectors has been a key driver of his wealth. Let’s take a closer look at some of these sectors and the companies within his extensive portfolio. Patrice Motsepe is involved in the African sports industry and owns the soccer club Mamelodi Sundowns.
Renewable energy investments
Prosus, which holds a diverse portfolio spanning fintech, social media, edtech, and food delivery, is doubling down on growth opportunities in the region. Beyond the realms of business, Motsepe has earned praise for his philanthropic sasol firm endeavors, reflecting his commitment to uplifting communities in need. In 2013, the Motsepe family took part in the Giving Pledge, inspired by the principles of Ubuntu, to promote the spirit of giving and generosity. Their dedication to positively impacting society was evident when they pledged R30 million ($2.04 million) in April 2022 to aid flood victims in KwaZulu-Natal.
companies owned by Africa’s first Black billionaire, Patrice Motsepe
According to a statement, the FSCA learned the two companies may be providing financial services to the public without authorisation. While Motsepe is celebrated as a symbol of Black economic empowerment (BEE), there have been ongoing debates about the effectiveness and fairness of BEE policies in South Africa. Critics argue that BEE has not delivered on its promise of broad-based economic empowerment and that it has sometimes benefited a select few. Rain is a data-only mobile network in South https://www.bidvestbank.co.za/ Africa that has launched Africa’s first 5G network. Rain offers data-only SIM cards and has become a disruptive force in South Africa which suffers from very high mobile data costs.