Home » South African billionaire Patrice Motsepe donates $1.64 million to assist students struggling with debt

South African billionaire Patrice Motsepe donates $1.64 million to assist students struggling with debt

by Mfonobong Nsehe
Patrice Motsepe

South African billionaire Patrice Motsepe has generously donated R30 million ($1.64 million) through The Motsepe Foundation to the Student Representative Council (SRC) of 26 universities in South Africa to assist students struggling with historical debts.

The $1.6-million donation has sparked reactions among South Africans, particularly students, who are hopeful that the funds will alleviate financial burdens related to registration fees and other outstanding debts.

During a meeting held at the Sandton, Precious Moloi-Motsepe, CEO and co-founder of The Motsepe Foundation, announced that the foundation would be providing financial assistance to address student concerns related to registration, fees, and historical debt.

She added that the aim of the initiative is to encourage the private sector and non-profit stakeholders to support the education of South Africa’s youth, who are an important resource for the country’s future. 

To ensure that the identified student needs are met effectively, the Motsepe Foundation will collaborate with the SRCs at each of the 26 South African universities.

In addition, the foundation has allocated 300 new bursaries for students at universities and schools for the 2023 academic year.

Moloi-Motsepe expressed her hope that these efforts would help to create a more educated and skilled population, which would benefit both the students and society as a whole.

Motsepe is a prominent figure in Africa, renowned as both a top philanthropist and a billionaire. His dedication to creating a well-rounded society is evident in his generous donations, which align with his values.

The Motsepe family was the first in Africa to join the Giving Pledge in 2013, inspired by the African concept of “Ubuntu” – caring for and giving to one’s neighbor. In April 2022, in response to the devastating floods, he pledged R30 million ($2.04 million at the time) to assist the flood victims in KwaZulu-Natal.

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