Home » Billionaire Patrice Motsepe donates $1.55 million to alleviate student debt in South Africa

Billionaire Patrice Motsepe donates $1.55 million to alleviate student debt in South Africa

Patrice Motsepe's million-dollar gesture to South African universities

by Yusuf Abdulfatai
Patrice Motsepe

Patrice Motsepe, Africa’s first Black billionaire and president of the Confedération Africaine de Football (CAF), has once again demonstrated his commitment to social responsibility by making a substantial donation of $1.55 million through the Motsepe Foundation to alleviate student registration fees and historical debt for 26 university student representative councils (SRCs).

The announcement was made by Motsepe’s wife, Precious Moloi-Motsepe, co-founder and CEO of the foundation, during a dialogue meeting at the Sandton Convention Centre in Johannesburg on Sunday. The meeting brought together student leaders from 26 universities to discuss youth unemployment and potential solutions.

In her address, Moloi-Motsepe emphasized the importance of collaboration between the private sector and academic institutions. She stated, “We must not merely reflect on these insights but pledge ourselves to actions that will dismantle barriers, inspire hope, and pave pathways of opportunity.” The Motsepe Foundation aims to encourage support from other private and non-profit stakeholders to benefit from a well-educated and skilled youth population.

Patrice Motsepe’s million-dollar gesture to South African universities

Patrice Motsepe, who achieved the status of Africa’s first Black billionaire in 2008 through success in the mining industry, has consistently been a dedicated philanthropist. In 2013, he joined the Giving Pledge, committing to donate a significant portion of his wealth to support those in need.

This latest donation to the SRCs echoes Motsepe’s previous philanthropic efforts. In February 2023, he donated R30 million ($1.64 million) to the 26 Student Representative Council (SRC) universities in South Africa, addressing historical debts and garnering positive reactions from hopeful students.

Motsepe’s commitment to philanthropy extends beyond education. Recently, he donated $500,000 to both the Catholic Church and the Muslim Faith in Cote d’Ivoire. In 2022, similar contributions were made to religious institutions in Cameroon during the TotalEnergies Africa Cup of Nations (AFCON).

Motsepe’s continuous generosity aligns with his values and the mission of the Motsepe Foundation, further solidifying his position as a distinguished philanthropist dedicated to creating a well-rounded and empowered society.

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