The 62-year-old is best known as the founder and executive chairman of African Rainbow Minerals (ARM), which has interests in mines that extract gold, platinum, base metals, and ferrous metals. He embodies the potential of African leadership in both business and philanthropy, demonstrating that it is possible to create wealth while also addressing https://satrix.co.za/ the continent’s most pressing social challenges. His impact will continue to be felt for generations to come, as he remains a powerful force for change both in Africa and on the global stage.
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- Discover the captivating journey of Patrice Motsepe, South Africa’s pioneering entrepreneur and billionaire extraordinaire.
- Motsepe’s backing of Tyme Group reflects a broader push for innovation-driven financial inclusion across Africa and beyond.
- Motsepe’s wealth, amassed through visionary leadership and business acumen, serves as a tool for social change.
- Cementing his status as the richest Black billionaire in Southern Africa, Motsepe has become a trailblazer for fellow entrepreneurs across the continent.
Motsepe’s commitment to the Giving Pledge and his ongoing investments in African development set a powerful example for future generations of philanthropists. Through his mining company, African Rainbow Minerals, Motsepe has been a major catalyst for job creation in South Africa. “It is a unique vote of confidence in our business by the world leaders in our industry, essentially,” said Coenraad Jonker, Tyme Group’s CEO and co-founder. He noted this round is likely the company’s last before agc patrice motsepe it prepares for an initial public offering (IPO) by the end of 2028. Tyme, which operates in Africa and Southeast Asia, in December raised $250 million in its Series D capital raise, pushing its valuation to $1.5 billion. According to Motsepe, ARCH Emerging Markets — a private equity fund in which he holds a significant stake — was the only entity that engaged with Evolution Energy Minerals.
It was from this shop that Motsepe learned basic business principles from his father, as well as first-hand exposure to mining. Motsepe’s first tertiary qualification was a BA degree at the University of Swaziland. He went on to complete a law degree specialising in mining and business at the University of Witwatersrand.
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However, for now, Patrice Motsepe remains defiant, ready to defend the integrity of his companies and protect his financial interests. In healthcare, the Motsepe Foundation has been instrumental in supporting initiatives that provide access to medical services in rural areas. The foundation has funded clinics, health awareness campaigns, and initiatives that focus on combating diseases such as HIV/AIDS and COVID-19.
From university dropout to South African billionaire
The lender operates under the TymeBank brand in South Africa, where it has amassed over 10 million customers since its 2019 launch. Motsepe is a qualified lawyer and holds a Bachelor of Arts degree from the University of Swaziland and a law degree from the University of the Witwatersrand. Ubuntu-Botho Investment Holdings Ltd. functions as an investment holding South African company. It launched a fully-fledged mobile network in mid-2023, with 4G SIMs available exclusively in a bundle with its 5G packages called RainOne.
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His journey https://www.psg.co.za/home to success began in 1997 when he founded African Rainbow Minerals, a groundbreaking Black-owned mining corporation based in South Africa. Motsepe senior, a teacher by profession, owned businesses in the North West province popular among mine workers. Patrice Motsepe is one of South Africa’s most successful businessmen with shareholdings in many of the country’s top companies, including Sanlam, Rain, Alexander Forbes, and TymeBank.
These efforts have been crucial in improving health outcomes in communities that often lack access to basic healthcare services. This commitment underscores his belief in using wealth for the greater good and supporting long-term social development. The company was founded by Precious Moloi-Motsepe and is headquartered in Benmore, South Africa. He earned a Bachelor of Arts degree at the University of Swaziland and a law degree from the University of the Witwatersrand.9 He specialised in mining and business law.
After completing school, he completed a BA degree at the University of Swaziland and a law degree at the University of the Witwatersrand. This business experience and exposure to the mining industry would serve him well in his future endeavours. Additionally, Motsepe funded bursary programs worth over $14.3 million (R260 million) to support nearly 2,000 students from underprivileged backgrounds.
By providing funding, mentorship, and resources, the foundation helps individuals and communities create sustainable livelihoods and break the cycle of poverty. Patrice Motsepe, founder of African Rainbow Minerals and chairman of Mamelodi https://www.investec.com/ Sundowns Football Club, is renowned not only for his business success but also for his immense philanthropic efforts. Africa’s first Black billionaire, Patrice Motsepe, is advancing his fintech ambitions through Tyme Group, a fast-growing digital lender where he holds a significant stake. Tyme Group has raised $250 million in its latest funding round, boosting its valuation to $1.5 billion and positioning it among Africa’s few unicorns. Motsepe has vowed to challenge the claims in court, calling the lawsuit an attack on the ethical foundation of African Rainbow Minerals (ARM). Founded in 1997, ARM is one of South Africa’s largest diversified mining companies, with operations spanning gold, iron ore, platinum, manganese, and coal.
