Patrice Motsepe is a prominently known South African businessman and football administrator. He founded African Rainbow Minerals and remains the President of the Confederation of African Football.
Patrice Motsepe’s Age
Patrice Motsepe was born on the 28th of January 1962 in Orlando West, Soweto, Johannesburg, South Africa. He is currently 63 years old and usually celebrates his birthday every 28th of January.
Early Life and Education
Patrice Motsepe was born into the family of Mr. Kgosi Augustine Motsepe, chief of the Mmaku branch of the Tswana people.
He was always around his father’s personally owned shop known as Spaza, which was prominent among miners.
Patrice Motsepe learned a lot about business from his father, as well as being exposed to mining. He earned a bachelor of arts degree from the University of Swaziland and, thereafter, a law degree from the United Witwatersrand.
Career
In 1994, Patrice Motsepe became the first black partner in Bowman Gilfillan’s law firm when Nelson Mandela was elected the country’s first black president.
As the new government began its promotion of back entrepreneurship, Patrice Motsepe formed Future Mining, which provided contact mining services that included cleaning of gold dust for the Vaal Reefs Gold mine.
Mining
In 1997, following the low price of gold, Patrice Motsepe purchased gold mines from Anglo Gold. He was sold six gold mine shafts for $7.7 million while being allowed to repay the debt from the company’s future earnings, which is prominently known now as African Rainbow Minerals.
It continued frequently in a string of deals, and Patrice Motsepe established a firm and started purchasing operating mines. In 1999, he joined efforts with associates to form Greene and Partners Investment.
The introduction of the Black Economic Empowerment (BEE) laws was a massive influence in cementing Patrice Motsepe’s position in the mining industry in the country.
As of then, a business was mandated to have 26% of black ownership before being considered for a mining license.
Since 2004, he has been a non-executive director of Absa Group and Sanlam.
Following the listing of African Rainbow Minerals on the JSE security exchange, the company paired with Harmony Gold Mining Ltd and changed to ARMgold.
Patrice Motsepe has several mining companies he is affiliated with, which include African Rainbow Minerals Platinum, Teal Exploration and Mining Incorporated, and Ubuntu-Botho Investments.
He is a known president of South Africa’s Chamber of Commerce and Industry.
Finance
In 2003, Patrice Motsepe created Ubuntu-Botho Investments (UBI). In 2004, Ubuntu-Botho Investments (UBI) entered a Black Economic Empowerment (BEE) deal with insurance and financial services company Sanlam.
The deal ended in 2014 after the debt was paid, with UBI acquiring 13.5% of Sanlam. Ubuntu-Botho Investments (UBI) started African Rainbow Capital as its subsidiary.
The African Rainbow Capital (ARC) has holdings in several companies, including Afrimat, Alexander Forbes, BKB, Rain, Tyme Bank, and luxury property estate Val de Vie.
Renewable Energy Investments
In 2024, Patrice Motsepe extended his portfolio of investments by adding the renewable energy sector while addressing the energy shortages in South Africa.
He strongly supported the establishment of GoSolr, which rents solar panels and batteries to residential customers.
GoSolr partnered with African Rainbow Capital Investments Ltd and Standard Bank Group Ltd to pledge to invest over 10 billion Rand.
Sports
Patrice Motsepe has remained a lover of sports and placed much focus on football.
In 2003, he purchased 51% of Mamelodi Sundowns FC, a prominent team in the South African Premiership. Thereafter, he bought the remaining 49% in 2024.
Despite the club facing less success, it has now dominated the South African Football League recently and won it for the past seven seasons.
In 2019, Patrice Motsepe bought a 37% stake in Blue Bulls Co.
A year later, he announced his candidacy for the position of Confederation of African Football (CAF) presidency.
On the 12th of March 2021, Patrice Motsepe was elected into office following the withdrawal of the four other candidates.
Following his election, his son Thlopie Motsepe took over the reins of Mamelodi Sundowns.
In 2025, Patrice Motsepe was re-elected President of the Confederation of African Football during its 14th general assembly meeting.
Family
Patrice Motsepe is married to Precious Moloi, and together, they have three children.
Net Worth
Patrice Motsepe has an estimated net worth of $3 billion.