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Patrice Motsepe

Patrice Tihopane Motsepe was born in 1962, in Soweto South Africa. He is the son of a former school teacher turned businessman. The father ran a small business “Spaza Shop” where young Patrice Motsepe practiced business, honing his entrepreneurship skills. Patrice Motsepe studied in Swaziland for his bachelor’s degree and later graduated with a law degree from the University of Witwatersrand. He specializes in mining and business law. This early training proved to be an asset to him in the corporate world during South Africa’s political transition. Patrice Motsepe has diversified investments covering different sectors of the South African Economy. He has interests in Sanlam-insurance, Alexander Forbes-insurance, Harmony Gold, Absa- Financial Services, Afrimat- Financial Services, Bravura-Banking Advisory, Sinayo StockK Brokerage Firm, Real Estate and Sports. He is the owner of a football team Mamelodi Sundowners. He is reported by Forbes 2017 to be worth approximately $1.7 Billion.

Success in Business Sound education:

Training in Law became handy in Business. Black empowerment became a South African government rallying call to empower black South Africans. Preparation always meets opportunity. He is known in South Africa as a mining magnate. He owns African Rainbow Minerals (ARM). As part of empowering Black South Africans in the new dispensation, a company seeking a mining license must have 26%local ownership. This has helped Patriceto grow his influence in the mining industry tremendously. Employees: He remunerates his staff with a basic salary and profit-sharing bonuses as part of empowering his workforce. This is an endorsement of employees as useful human capital in an enterprise.

Nuggets for Motsepe Success

Business Networks: He is the chairman of the South African Chamber of Commerce and Industry. This Business Membership organization helps to lobby the government on behalf of the membership in terms of legislation, taxation, and creating a conducive business environment.

Legal-Business Mind:

It is an asset to be grounded in business and law in terms of training or being in a position to hire or outsource these services for enterprise success.

Philanthropy: Patrice Motsepe has a foundation that focuses in empowering South Africans in terms of education, health, and economic empowerment. Power to ACT: being able to take action as opportunities appear. When there is a change in legislation enabling blacks to join the corporate enterprise, taking advantage of these opportunities has made Patrice one of the most successful Blacks in the mining and precious metals industry. Lessons Learnt Preparation meets opportunity. Good education and business skills can make one become more successful when changes in the operating environment find you already participating.

Focus: Patrice specialization is in Mining and Business Law. This enabled him to gain exposure early in life. Exposure is an eye-opener in opportunity recognition. He started in mining: today he is investing in major sectors of the South African economy.

Gratitude: the power of giving back to the community through social empowerment programs will only help others join him in the business world, in essence, all building a better South Africa for all.

Success breeds success:

having invested successfully in the mining industry, he has been able to diversify into other sectors of the economy namely finance, banking, and insurance. He is among the few leaders who participated in the World Economic Forum in Davos.