Thursday, 2 October 2014

The five richest black South Africans

Patrice Motsepe - $2.6 billion
Patrice Motsepe of African Rainbow Minerals is a schoolteacher turned businessman. Starting with a modest spaza shop popular with mineworkers, he has become South Africa's first billionaire.
He earned a bachelor of the arts from the University of Swaziland, and a law degree from the University of the Witwatersrand.

He became the first black partner with the law firm Bowman Gilfillan in 1994.
In 2012 African Rainbow Minerals was the ANC's largest benefactor at Mangaung.
In December of 2013, City Press reported that he bid R400 000 for a photograph of the ANC NEC top six members taken at the Mangaung Elective Conference, and another  R700,000 for a picture of Nelson Mandela framed along with coins minted depicting the faces of past ANC presidents.
Cyril Ramaphosa - $550 million
Cyril Ramaphosa made his fortune mostly through the Shanduka group, though he is also the chairman of Bidvest and MTN, while being a non-executive director in Macsteel Holdings, Alexander Forbes and Standard Bank.
In terms of politics, he is the deputy president of the ANC and the country. He isn't exactly a DA supporter.
Mosima Gabriel "Tokyo" Sexwale - $200 million
Sexwale earned his nickname through his love of karate.
A major player in the diamond industry, Sexwale has been praised by no less than Harry Oppenheimer for having an understanding of the industry few can match.
Which is to say the Mvelaphanda Group is the third largest company in the diamond sector after De Beers and the JFPI Corporation.
He isn't just a noted businessman however, but also a major mover within the ANC. He even ran for ANC president in 2007, and was named Minister of Human Settlements by President Jacob Zuma in 2009.
Sipho Nkosi -  $163 million
Nkosi founded Eyesizwe Coal in 1998, and then went on to do the deals that would eventually land him as the fourth richest black man in South Africa, and the CEO of Exxaro Coal.
Nkosi tends to avoid headlines, and thus is it very difficult to say just exactly what party he supports - though he was the president of the SA Chamber of Mines up until 2012.
Phuthuma Nhleko - $142 million 
The former CEO of MTN group, Nhleko is also noted for being the chairman of Worldwide African Investment Holdings, a company that has interests in the petroleum, telecommunications and information technology industries.
According to BDLIVE, Nhleko was central to the Turkecell corruption scandal, in which a KPMG report found that the company had lavished gifts on Iranian politicians when it was bidding for the licence.

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