Patrice Motsepe: All you need to know about the new CAF President
Africa has given the responsibilities of governing and directing the affairs of its football on and off the pitch to Patrice Motsepe after Ahmad Ahmad’s first three years which was tinted with financial misappropriation and other corrupt allegations came to an end.
Just like his predecessor, Patrice Motsepe has also highlighted what he intends to do as the CAF new President for the next four years.
Patrice Motsepe is a history-maker as he becomes the first South African to be named as the President of the Confederation of African Football.
Who is Patrice Motsepe?
Born on the 28th of January, 1962, in Ga-Runkawa, Dr Patrice Motsepe is a South African Mining billionaire who is not entirely a stranger to African Football.
He is the son of Key and Kgosi Augustine Motsepe, a former school teacher who later ventured into business. Patrice Motsepe’s father ran a Spaza Shop in Pretoria, which was more or less a hub for miners in the locale.
Patrice Motspe learnt the rudiments of miming from his father, his interaction with the miners as well as his exposure to the business itself.
He is the non-executive chairman of Harmony Gold, the 12th largest gold mining company in the world. He is also the Chairman and Founder of African Rainbows Minerals.
Patrice Motsepe interest lies in gold, ferrous metals, base metals, and platinum.
Career and Education
Patrice Motsepe is well-educated. He attended Tsogo High School before he bagged his Bachelor of Arts degree from the University of Swaziland and a law degree from Witwatersrand University where he learnt the rudiments of Business Law.
He became one of the earliest beneficiaries of black empowerment and entrepreneurship by the South African government in its post-apartheid era. He founded Future Mining, which provided contract mining services that included the cleaning of gold dust from inside mine shafts for the Vaal Reefs Gold mine.
He became the first black partner in the law firm Bowman Gilfillan in 1994.
The introduction of the Business Economic Empowerment Law in 1994 afforded Patrice Motsepe the leverage to become a major key player in the mining business in South Africa. The law state that a business must have 26% black ownership before it can be considered for a license.
When the Gold price was at a low in 1997, Patrice Motsepe bought marginal gold mines from AngloGold under considerable finance terms.AngloGold sold six gold mine shafts for $7.7m to Motsepe which gave him the chance to repay the debt through the future earnings of the company now know as African Rainbow Minerals.
Over the years, Patrice Motsepe has built a vast reputation for himself not just in South Africa but also in the African continent. He was named South Africa’s richest man in 2012 with an estimated net worth of 20 billion Rands. He is currently the chairman of Ubuntu-Botho Investments, Non-Executive chairman of Harmony Gold Mining Co Ltd. and Deputy Chairman of Sanlam Ltd.
Involvement with Sport
Patrice Motsepe is the owner of the current Premier Soccer League champions, Mamelodi Sundowns who won the CAF Champions League in 2016 under former coach, Pitso Mosimane. Two years ago, he bought a 37% stake in the Blue Bulls Co.
He bought the club in 2003.
He came the first South African to be voted as CAF President on the 12th of March, 2021. He was elected unopposed after his rivals pulled out after reportedly reaching a deal.
Outside Mamelodi Sundowns, Patrice Motsepe had no experience in football administration but after the Court for Arbitration for Sports upheld the suspension of Ahmad Ahmad, the former President, the coast was clear for him to emerge as the new CAF President.
Net Worth
In 2020, Patrice Motsepe was ranked as the 1,307th-wealthiest person in the world by Forbes, with an estimated fortune of US$2.1 billion.
Personal Life
He is married to married to Precious Moloi, a physician and fashion entrepreneur and they have three children; Kgosi Motsepe, Thlopie Motspe and Kabelo Motsepe.
Patrice Motsepe is a prince in the Tswana Clan, one of the largest black minorities clan in South Africa.
