7 companies owned by Africa’s first Black billionaire, Patrice Motsepe

Omokolade Ajayi -

Patrice Motsepe, the visionary founder of African Rainbow Minerals (ARM), continues to leave an indelible mark on the African business landscape. Cementing his status as the richest Black billionaire in Southern Africa, Motsepe has become a trailblazer for fellow entrepreneurs across the continent.

His journey to success began in 1997 when he founded African Rainbow Minerals, a groundbreaking Black-owned mining corporation based in South Africa.

At the age of 46, in 2008, Motsepe made history as the first black African billionaire to grace the prestigious Forbes list, an extraordinary achievement fueled by his extensive investments in the mining industry.

With a remarkable 39.7-percent ownership stake in ARM, he has solidified his place as one of South Africa’s wealthiest businessmen and garnered recognition as one of Africa’s most prominent figures.

Beyond the realms of business, Motsepe has earned praise for his philanthropic endeavors, reflecting his commitment to uplifting communities in need. In 2013, the Motsepe family took part in the Giving Pledge, inspired by the principles of Ubuntu, to promote the spirit of giving and generosity. Their dedication to positively impacting society was evident when they pledged R30 million ($2.04 million) in April 2022 to aid flood victims in KwaZulu-Natal.

Motsepe’s journey serves as an inspiration to aspiring entrepreneurs and a testament to the transformative power of passion, perseverance, and purpose. His unwavering commitment to success and his dedication to making a difference exemplifies the epitome of leadership and philanthropy in the African business landscape.

Billionaires.Africa has identified and cataloged various companies and holdings linked to Patrice Motsepe. Here are seven companies where he holds direct or indirect ownership:

  1. African Rainbow Minerals (ARM): Founded by Motsepe in 1997, ARM is South Africa’s pioneering Black-owned mining company. It holds strategic assets in iron, coal, copper, gold, platinum, and other precious metals. Based in Johannesburg, the diversified mining corporation is 39.7-percent owned by Motsepe. His significant stake of 89,092,411 ordinary shares in the company constitutes the majority of his $2.5-billion fortune.
  1. TymeBank: The leading digital-only bank, which has more than 6.2 million customers and a rapidly growing presence in South Africa and the Philippines, is owned in part by African Rainbow Capital (ARC) Financial Services Holding, a Black-owned and -controlled company that operates under Ubuntu-Botho Investments (UBI), a holding company founded by Motsepe. In 2022, ARC provided TymeBank and TymeGlobal with an additional R257 million ($15.25 million) in funding to meet the bank’s scheduled capital requirements when it announced the acquisition of Retail Capital.
  1. Ubuntu-Botho Investments: African Rainbow Capital (ARC) is an investment firm founded in 2015 by Motsepe. It focuses on opportunities in financial services and diversified non-financial sectors within South Africa and Africa. ARC operates as a subsidiary of Ubuntu-Botho Investments, a fully Black-owned organization. The primary goal of ARC is to acquire shareholdings in businesses that offer outstanding returns on equity. Through its operations, Motsepe indirectly invests in nearly 50 companies.
  1. African Rainbow Capital: African Rainbow Capital (ARC) is an investment entity owned by South African billionaire Motsepe, concentrating on opportunities within the South African and African financial services sectors as well as diversified investment (non-financial) sectors. Established in 2015, the company operates as a subsidiary of Ubuntu-Botho Investments, a fully Black-owned and controlled organization. ARC’s primary objective is to acquire shareholdings in businesses that yield exceptional returns on equity. Through its operation, Motsepe maintains indirect investments in close to 50 companies.
  1. Sanlam Investment Holdings (SIH): SIH is Sanlam’s third-party asset management firm, with a 25 percent ownership by ARC Financial Services Investments Proprietary Limited, owned by Motsepe. Sanlam retains a 75-percent stake in the asset management company.
  1. African Rainbow Energy and Power (AREP): Founded by Motsepe in 2012, African Rainbow Energy and Power (AREP) is an African clean energy company. It aims to offer affordable energy solutions in South Africa and Africa, primarily focusing on solar assets, with smaller contributions from wind and biomass sources.
  1. The Motsepe Foundation: Patrice Motsepe, renowned for his successful business ventures, is equally celebrated for his philanthropic efforts. Together with his wife, Precious Moloi-Motsepe, he founded the Motsepe Foundation in 1999. This foundation exemplifies their commitment to creating a better society by generously supporting causes aligned with their values. In 2013, the Motsepe family made history by becoming the first in Africa to join the Giving Pledge, inspired by the African principle of “Ubuntu,” emphasizing caring for and giving back to others. Their focus lies in combating poverty and enhancing the living conditions of disadvantaged, unemployed, and marginalized individuals.