South African billionaire Patrice Motsepe – Photo via Twitter/CAF
South African billionaire Patrice Motsepe became the first Black African to be featured on the Forbes list of world billionaires at the age of 46 in 2008. He is also the first South African industrialist and billionaire.
Growing up, Motsepe’s first passion was entrepreneurship because he comes from a family of entrepreneurs. His grandfather and father were both entrepreneurs. His father, who was chief of the Mmakau branch of the Tswana people, was a schoolteacher and later became a businessman as the owner of a Spaza shop that was frequented by mine workers. It was from this shop that Motsepe gained exposure to the mining industry and had an opportunity to learn key business skills from his father that would shape his success. His mother, Key Motsepe, was also a businesswoman who ran the family business at the time.
Today, he has grown to become one of the most influential figures in Africa, with his footprint cutting across sports and business. Here are five businesses owned by Motsepe.
African Rainbow Minerals Ltd (ARM)
Motsepe is a mining magnate. According to him, it took many years to identify which opportunity to pursue and he realized that his country did not have a history of small-scale mining. This inspired him to buy low-producing gold mine shafts in 1997 and turned them into profitable ventures in a year. Motsepe owns African Rainbow Minerals Ltd (ARM). The company mines iron ore, manganese ore, and alloys, platinum group metals, copper, nickel, and coal. ARM also has an investment in gold.
Mamelodi Sundowns
Motsepe, now 60, is also an avid sports investor, with major investments in football and rugby. The billionaire is the bankroller and founder of the South African football club Mamelodi Sundowns. Sundowns play in South Africa’s elite league and are one-time champions of the Confederation of African Football (CAF) Champions League.
Pretoria-based Blue Bulls
Also, Motsepe is the joint major shareholder with a 37 percent stake in the Pretoria-based Bulls, currently the most successful rugby team in South Africa. The investment in the Bulls is largely to complement his investment in Sundowns.
African Rainbow Capital
Motsepe owns African Rainbow Capital (ARC), an investment company focusing on opportunities in the South African and African financial services and diversified investments (non-financial) industries, its website says. The company was first started in 2015 and operates as a subsidiary of Ubuntu-Botho Investments. The main goal of ARC is to acquire shareholdings in businesses that deliver exceptional returns on equity.
TymeBank
TymeBank is a digital-only bank with more than 6.2 million customers. The company has a presence in South Africa and the Philippines and is partly owned by African Rainbow Capital (ARC) Financial Services Holding.