Patrice Tlhopane Motsepe (born 28 January 1962) is a South African mining businessman.
Since 12 March 2021, he has been serving as the President of the Confederation of..
Patrice Tlhopane Motsepe (born 28 January 1962) is a South African mining businessman.
Since 12 March 2021, he has been serving as the President of the Confederation of African Football.
He is the founder and executive chairman of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum. He sits on several company boards, including being the non-executive chairman of Harmony Gold, the world's 12th largest gold mining company, and the deputy chairman of Sanlam.
Notable Achievements:
In 1997, with gold prices at a low, he purchased marginal gold mines from AngloGold under favourable finance terms. AngloGold sold Motsepe six gold mine shafts for $7.7 million allowing him to repay the debt out of the future earnings of the company now known as African Rainbow Minerals.
This was repeated in a string of deals and Motsepe set up a firm to begin buying the operating mines that would become the source of his wealth. In 1999 he teamed up with two of his associates to form Greene and Partners Investments.
The Black Economic Empowerment (BEE) laws introduced after the 1994 elections have been instrumental in cementing Motsepe's position in the mining industry in South Africa. A business must have a minimum of 26% black ownership to be considered for a mining license.
Since 2004, Motsepe has been a non-executive director of Absa Group and Sanlam.
Education:
Bachelor of Arts degree at the University of Swaziland and a law degree from the University of the Witwatersrand. He specialised in mining and business law.
Motsepe is also the founder of African Rainbow Minerals Platinum (Proprietary) Limited and ARM Consortium Limited, which later equally split ownership with Anglo American Platinum Corp Ltd. From 2005, Motsepe was Chairman of Teal Exploration and Mining Incorporated.
Other Achivements:
Motsepe is also chairman of Ubuntu-Botho Investments, Non-Executive chairman of Harmony Gold Mining Co Ltd. and deputy Chairman of Sanlam Ltd. Motsepe has been president of South Africa's Chamber of Commerce and Industry.
He is the owner of Mamelodi Sundowns F.C. a Premier soccer league club. In November 2019, Motsepe bought a 37% stake in the Blue Bulls Co.