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Top 10 Richest Black Men in South Africa 2018

South Africa is now post-apartheid which is a good thing in itself seeing our countries majority liberated from discrimination. While as a country we have gone through many positive changes, unemployment has risen since then.

Many black South African’s have risen to middle or upper classes.

  1. Dalikhaya Zihlangu – Estimated Net Worth: R533 million

He spent his time learning the ins and outs of the mining industry. He acquired great expertise in mining which translated into business success and wealth. He is also a top member and director of Exxaro Resources.

  1. Saki Macozoma – Estimated Net Worth: R565 million

He is a prominent businessman who studied political science, economics and journalism. He graduated from US-based Boston University and the University of South Africa. He spent 5 years in prison in Robben Island for anti-apartheid activities. He is the non-executive chairman of Safika Holdings.

  1. Mike Teke – Estimated Net Worth: R682 million

He is a business man who has extensive experience in people and business management. He graduated from the University of Johannesburg, University of South Africa and from the University of Limpopo. He is currently the CEO of Optimium Coal Holding Limited South Africa.

  1. Nkululeko Sowazi – Estimated Net Worth: R726 million

He is a businessman who has participated in high capacities in sectors like finance, infrastructure and mining. He is best known for his high-profile role as an investment manager with more than 15 years of experience. He is a co-founder of Tiso Group and is a board member of several South African companies

  1. Zwelibanzi Vincent Mntambo – Estimated Net Worth: R1.01 billion

He was previously a senior lecturer at the University of KwaZulu-Natal. He graduated from North-West University and the UK-based Yale University. He is currently chairman of ASG Consulting Solutions and hold director positions in Everest Applied Technologies, Eyesizwe Coal (Pty) LTD, Sediba Consulting and Exxaro Resourses LTD.

  1. Sipho Nkosi – Estimated Net Worth: R1.7 billion

He is a businessman with over 20 years in the mining sector.  He is also well learned who has graduated from US-based Boston University and the University of Zululand. He is currently the president of Chamber of Mines of South Africa, the CEO of Exxaro Coal South Africa and is the Independent Non-Executive Director of Sanlam LTD.

  1. Phuthuma Nhleko – Estimated Net Worth: R1.74 billion

He is a businessman who is notably known for transforming and stabilising MTN. He was in the headlines when it was reported that MTN reportedly paid him R68.2 million in total remuneration for 2016 financial year. He graduated from US-based Ohio State University as well as Atlanta University. He is currently the executive chairman of MTN Group and holds high positions in a number of companies.

  1. Tokyo Sexwale – Estimated Net Worth: R2.14 billion

He is a businessman, politician, anti-apartheid activist and a former political prisoner who was imprisoned on Robeen Island. He served in government as the minister of Human Settlements and has contributed immensely to the public and private sectors of South Africa. He received education from the University of Botswana, Lesotho and Swaziland. He is currently the non-executive chairman of Mvelaphanda Holdings.

  1. Matamela Cyril Ramaphosa – Estimated Net Worth: R5.67 billion

He is the current president of South Africa following the resignation of Jacob Zuma. He is also a business man, a skilled negotiator and strategist who acted as the ANC’s chief negotiator during South Africa’s battle to end apartheid in a peaceful manner. He has received honorary doctorates from the University of Natal, the University of Port Elizabeth, the University of Cape Town, the University of the North, the National University of Lesotho, National University of Ireland, the University of Massachusetts Boston and the University of Pennsylvania.

  1. Patrice Motsepe – Estimated Net Worth: R27.72 billion

He is the first and only black man among South Africa’s dollar billionaires. He is a mining businessman. He is the founder and executive chairman of African Rainbow Minerals. He also sits on several company boards including being the non-executive chairman of Harmony Gold which is the world’s 12th largest gold mining company. He is the owner of football club Mamelodi Sundowns since 2003. All this has made Patrice Motsepe South Africa’s richest black man by some margin.


Written by Mathew

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