Patrice Motsepe, Africa’s first Black billionaire and famous philanthropist, isn’t backing down as South African billionaires exercise their financial muscle in politics.
According to recent filings, Motsepe-linked corporations made significant contributions across the political spectrum in the first quarter of 2024.
According to recent findings, African Rainbow Minerals Limited and Harmony Gold Mining Company Limited, both linked to Motsepe, donated a total of R22.08 million ($1.2 million) to the African National Congress (ANC), Democratic Alliance (DA), Economic Freedom Fighters (EFF), and Freedom Front Plus (FF+) in the first quarter of 2024.
The Independent Electoral Commission’s (IEC) most recent report outlines political party funding for the first quarter of 2024, which corresponds to the commission’s fourth quarter of the 2023-2024 fiscal year. The IEC announced a record-breaking R172 million ($9.5 million) in declared donations.
Patrice Motsepe’s companies strongly supported the ruling ANC. African Rainbow Minerals and Harmony Gold each contributed R6.9 million ($382,000) to the celebration. The firms also distributed their contributions, sending R2.52 million ($140,000) each to the DA, R1.32 million ($73,000) to the EFF, and R0.3 million ($16,600) to the FF+.
Motsepe, who became Africa’s first Black billionaire in 2008 through mining businesses, gets a substantial chunk of his money from his 45.9 percent share in African Rainbow Minerals, cementing his status as one of the continent’s wealthiest people.
While he has direct control over African Rainbow Minerals, his investment in Harmony Gold is indirect, with African Rainbow Minerals owning 12 percent.
Nicky Oppenheimer, South Africa’s second-richest individual, also made major contributions, giving R10 million ($552,200) apiece to the DA and the Inkatha Freedom Party (IFP), for a total of R20 million ($1.1 million).
