The Motsepe family has proved that anything can be achieved with hard work and dogged persistence. It seems a cruel irony that the South African mining industry, which divided race groups and destroyed the social fabric and families of black South Africans through migrant labour during apartheid, has also been responsible for the creation of South Africa’s first black billionaire.

Throughout history, certain names have become synonymous with greatness. African names that will live on to inspire future generations can now unquestionably embrace “Motsepe” into their prestigious ranks.

No stranger to success

South Africa’s first black billionaire, Patrice Tlhopane Motsepe, is no stranger to success. Nor, for that matter, is his sister Bridgette Radebe or more recently his wife, Dr Precious Moloi-Motsepe. With favourable comparisons to the Oppenheimer dynasty, from where exactly did the economic tour de force that is the Motsepe family spring?

Although not widely known, Motsepe is, in fact, a prince. He is one of the members of a royal Tswana clan. Born in Soweto, and raised near Pretoria, Motsepe has often spoken in interviews of helping his father at the family-run shop from early on in his childhood. This undoubtedly sparked a seed of entrepreneurism in Motsepe who was, it would seem, determined to forge his own career path.

He developed a particular interest in law and legal theory from a young age and his heart was soon set on becoming a lawyer – at the time an impossible dream for a young black South African living under apartheid.

Motsepe attended and graduated from the University of Swaziland after finishing his schooling in South Africa. Shortly thereafter, despite the devastating and limiting tenets of apartheid legislation such as The Separate Universities Act of 1959 (that forced certain universities in South Africa such as the University of the Witwatersrand and UCT to only accept white students), Motsepe became one of the first few black law graduates of the University of the Witwatersrand in Johannesburg in the early 1980s. This was no mean feat, as Motsepe had to obtain a special exemption to become a student at Wits.

Transition to democracy

South Africa’s 1994 transition to democracy saw Motsepe become the first black partner in Bowman Gilfillan Attorneys, a milestone on the path towards his illustrious future career (he still keeps relatively close contact with the law firm today). With some experience in mining law, Motsepe first cut his teeth on his own contract mining business, Future Mining. Providing services to what would eventually become AngloGold Mining, Motsepe initially struggled to get the company off the ground with little to no start-up cash. He once famously described how his early working career took shape from his briefcase, as there was not enough money for an office.

Through years of toil and a hard-nosed business sense, Motsepe bought poor performing gold mines in the early 1990s, nurturing them to profitable enterprises. From very little, he was to create the first black-owned mining company in South Africa.

Officially christened African Rainbow Minerals (ARM) in 1997, Motsepe’s next move was to purchase further smaller mining shafts at Vaal Reefs in the late 1990s as well as a few others within the AngloGold stable in the Free State. By 2007, African Rainbow Minerals reported a revenue of $875-million.

ARM is a truly diversified mining company involved in the platinum, iron ore, coal, manganese and gold sectors, among others. In 2007 ARM entered the big league of the JSE/FTSE Top 40 and in 2008 the market capitalisation reached R59-billion (as listed on its website, www.arm.co.za).

Crisis effects

The company has, naturally, not escaped the effects of the global economic crisis and the end of the commodities boom. As long as commodity prices remain low, the short-term outlook for most global mining companies will be bleak and ARM will not go unaffected, having already lost a considerable amount of share value since the economic turmoil began.

In 2002 Motsepe was voted South Africa’s Business Leader of the Year by the chief executive officers of the top 100 companies in South Africa, who recognised his remarkable endeavours and achievements as a leader within the mining sector. Another notable accolade followed shortly thereafter as Motsepe was voted 39th in 2004’s Top 100 Great South Africans.

In 2008 Forbes magazine released a global survey that named Motsepe as the 503rd richest person in the world. And he became fondly dubbed, “The Prince of Mines”. No one could deny by this point that Motsepe had surpassed even his own wildest dreams of fortune and fame.

Motsepe is also a passionate football fan: Renowned for living a relatively humble lifestyle, one of his rare extravagances was to purchase Mamelodi Sundowns Football Club. He first bought 51 percent of the club in 2003, taking full control by 2004, and today he is the sole owner and shareholder. Motsepe is a non-executive director of Absa Group and Sanlam, in which he owns a 5.5 percent share. Today, among other investments and holdings, Motsepe is chairperson of ARM, the first South African black-owned gold company to list on the Johannesburg Securities Exchange, created from the merger of Anglovaal Mining, Harmony Gold Mining and ARM gold.

ARM is estimated to be worth several billion rand, with extensive interests in mines and industries.

Not all a bed of roses

Despite his overwhelming success, all has not been a bed of roses for Motsepe. Critics have claimed that part of his wealth is largely due to black economic empowerment policies, which served to bolster the interests of an elite few. These policies stipulate that certain economic sectors are required by law to have a minimum percentage of black interests or investment.

However, it would be unfair to detract from Motsepe’s success through such generalisations. Many would argue that Motsepe’s hard work and unwavering perseverance has brought him the wealth he enjoys today.

Forbes magazine reported that its list of global billionaires has shrunk for the first time in six years because of the global credit crunch. Forbes went on to state that no country has been spared from the global recession, which is evidence of how ‘interconnected’ world markets have become. Motsepe has dropped to 559th on the 2009 Forbes list of the world’s billionaires – still an impressive ranking. Only time will reveal the full extent of how the world economic meltdown will impact on the Motsepe clan.

Great partnership

Behind every great man is a great woman, or in Motsepe’s case, great women. While he toiled to cement his fortune, his sister Bridgette (married to Transport Minister Jeff Radebe) was busy carving out her own destiny. Radebe set her sights on the University of Botswana as soon as she came of age, reading for a bachelor’s degree in political science. Radebe is said to have been the first black South African woman to become involved in gold, platinum and diamond mines when she founded deep-level hard-rock mining company Mmakau in 1989.

Mmakau has been widely successful and has extended its activities beyond South Africa’s borders, with gold mining interests in Zimbabwe. In the grand Motsepe tradition, Radebe has also played her part in various charitable organisations and is renowned for a shrewd and instinctive business sense as well as a strong work ethic. In 1998 she was given the International Business Person of the Year Award by the Global Foundation for Democracy, an organisation dedicated to recognising the achievements of individuals who have succeeded despite shifting political and environmental landscapes. The Global Foundation for Democracy referred to her as “an economic activist, an agent of transformation and a pioneer of change who has played a key role in changing exclusionary mining legislation in South Africa, and who pioneered the implementation of empowerment mining models in Africa and internationally”.

Patrice Motsepe married Dr Precious Makgosi Moloi in 1989. Combined, they are the epitome of the dynamic 21st century power couple. They have three children – all boys – and will celebrate their 20th wedding anniversary in June this year. A qualified medical doctor, Precious Moloi- Motsepe started out in the paediatric divisions of public hospitals in Gauteng, eventually spending a lengthy period in Virginia in the United States where she developed a passion for women’s health issues. On returning to South Africa, she opened her own women’s healthcare clinic in Johannesburg.

Dr Moloi-Motsepe is also chairperson of African Fashion International, which is dedicated to skills development in townships and rural areas. She believes that greater skills development within this industry will result in the creation of more job opportunities for South Africans.

She and her husband are committed to giving back to their country. As a result, they first established the Motsepe Foundation, a family trust, with a view to promoting education and health together and with the additional goal of fighting poverty in South Africa. The couple has, through the foundation, given vast amounts of money to charities such as the United Nations Children’s Fund.

Dr Moloi-Motsepi is also member of the Global Philanthropists Circle, described as “a dynamic network of leading international philanthropists dedicated to eliminating poverty and increasing equity worldwide”.

An inspiration to many

The Motsepes are an inspiration to many people in South Africa. They continue to support lesser privileged communities and individuals, using their wealth to create a better life for many. More importantly, the Motsepes have created and sustained thousands of jobs, contributing to the country’s economy on a grand scale.

Arguably, most notable of all is the belief which they inspire in all South Africans today that anything can be achieved with hard work and dogged persistence.

While no family is perfect, the Motsepes have become a widely recognised brand of the 21st century. They have sparked a renewed national interest in entrepreneurial initiatives and the pursuit of business success.

Patrice has set an example of how, despite enormous wealth, one can maintain a relatively humble and down-to-earth lifestyle.

The Motsepes inspire the belief that, regardless of background, culture or ethnicity, anyone can realise their dreams.

The one thing that South Africa needs more than anything else during these turbulent times, is strong role models from all walks of life and, in the Motsepe clan, we can be sure to find such people.


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