Patrice Motsepe-linked MetroFibre secures $298 million in debt funding from Standard Bank Group
MetroFibre is partly owned by African Rainbow Capital, an investment unit founded by Motsepe.
MetroFibre is partly owned by African Rainbow Capital, an investment unit founded by Motsepe.
The Motsepe Foundation facilitated $4.4 million in funding for the first two projects.
The news comes a year after the his energy firm acquired a strategic 40-percent stake in SOLA Group.
Motsepe is a member of the WEF Board of Trustees.
Motsepe’s net worth has risen to $3.1 billion so far this year.
The new entity is expected to have a combined total group equity value in excess of $2.1 billion.
Motsepe, the South African billionaire and current President of the Confederation of African Football (CAF) founded the mining firm in 1997.
Motsepe, a billionaire businessman, offered his assistance after witnessing the devastation caused by recent floods.
The billionaire is one of the richest men in Africa.
SEACOM is privately funded and about 75-percent African-owned.
Motsepe, who has been instrumental in the success of the South African miner, has a substantial 39.7 percent interest in the company.
Motsepe founded the mining enterprise in 1997 as South Africa’s first Black-owned mining firm.
Masiyiwa is a London-based Zimbabwean billionaire businessman and philanthropist.
ARM is a significant South African mining and minerals firm with holdings in a variety of mines.
Motsepe owns a minority stake in Sanlam through his financial business Ubuntu-Botho Investments.
The move by SEACOM represents a significant step forward in its five-year strategic expansion plans.