We have taken a look at the five richest black South Africans.
5. Phuthuma Nhleko – R1.9 Billion.
Freedom Phuthuma Nhleko is a South African businessman, currently serving as executive chairman of MTN Group, which is an Africa-focused holding group involved primarily in the operation of GSM cellular telephone networks.
Nhleko is also noted for being the chairman of Worldwide African Investment Holdings, a company that has interests in the petroleum, telecommunications and information technology industries.
4. Sipho Nkosi – R2.2 Billion.
Nkosi founded Eyesizwe Coal in 1998, and then went on to do the deals that would eventually land him as the fourth richest black man in South Africa, and the CEO of Exxaro Coal.
He was the president of the SA Chamber of Mines up until 2012.
3. Mosima Gabriel “Tokyo” Sexwale – R2.7 Billion.
Sexwale earned his nickname through his love of karate. He is a major player in the diamond industry.
After the 1994 general election—the first fully democratic election in South Africa—Sexwale became the Premier of Gauteng Province.
He founded Mvelaphanda Holdings, a company of which he is still executive chairman. Mvelaphanda is primarily focused on the mining, energy, oil, diamond mining and related sectors.
Mvelaphanda Group is the third largest company in the diamond sector after De Beers and the JFPI Corporation.
2. Cyril Ramaphosa – R7.4 Billion.
Matamela Cyril Ramaphosa is a South African politician, businessman, activist, and trade union leader who has served as the Deputy President under President Jacob Zuma since 2014.
Cyril Ramaphosa made his fortune mostly through the Shanduka group, though he is also the chairman of Bidvest and MTN, while being a non-executive director in Macsteel Holdings, Alexander Forbes and Standard Bank.
1.Patrice Motsepe – R35.3 Billion.
Patrice Motsepe is a South African mining magnate. He is the founder and executive chairman of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum. He also sits on several company boards including being the non-executive chairman of Harmony Gold, the 12th largest gold mining company in the world, and is the deputy chairman of Sanlam.
In 2003, he became the owner of football club Mamelodi Sundowns.
He is South Africa’s first black billionaire.
He earned a bachelor of the arts from the University of Swaziland, and a law degree from the University of the Witwatersrand.
Out of South Africa’s five richest black people, the three richest have very definite ties to the ANC. Two are more circumspect about their political affiliation, and we can’t claim anything beyond the fact that they’re rich.