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Who is the First Black Billionaire in Africa?

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the first black billionaire in africa

Glusea brings to you the first black billionaire in Africa

Africa is often ranked lowest when it comes to Global wealth index. Forbes Magazine began publication annual billionaires in the world in the year 1986. It took about 22 years before the first black person in Africa appeared on the list.

South African business mogul and founder of African Rainbow mineral, Patrice Motsepe was the first black man in Africa to appear in the list of the Global billionaires list.

Patrice became the first black partner in the law firm Bowman Gilfillan, Bowman is one of the top law firm in the history of South Africa.

Patrice Motsepe Profile

Patrice was born to Kgosi Augustine Motsepe, a chief of the Mmakau branch of the Tswana people, who had previously been a schoolteacher and was later a small businessman as the owner of a Spaza shop which was popular with black mine workers

Mostepe learnt basic business principles in his father’s spaza shop.

He holds a Bachelor of Arts degree at the University of Swaziland and a law degree from the University of the Witwatersrand.

First black billionaire in Africa

the first black billionaire in africa

Career

Motsepe founded Future Mining, which provided contract mining services that included the cleaning of gold dust from inside mine shafts for the Vaal Reefs Gold mine, and implemented a system of worker remuneration that combined a low base salary with a profit-sharing bonus.

In 1997, with gold prices at a low, he purchased marginal gold mines from AngloGold under favourable finance terms. AngloGold sold Motsepe six gold mine shafts for $7,7million allowing him to repay the debt out of the future earnings of the company now known as African Rainbow Minerals.

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This was repeated in a string of deals and Motsepe set up a firm to begin buying the operating mines that would become the source of his wealth. In 1999 he teamed up with two of his associates to form Greene and Partners Investments.

Patrice’s position in the mining industry was strengthened after the Black Economic Empowerment law was passed. The law mandated a company to have a minimum of 26% black ownership before it can obtain a mining license.

In 2002 when it was listed on the JSE Security Exchange, African Rainbow Minerals joined with Harmony Gold Mining Ltd. and the company’s name changed to ARMgold.

Motsepe is also the founder of African Rainbow Minerals Platinum (Proprietary) Limited and ARM Consortium Limited, which later equally split ownership with Anglo American Platinum Corp Ltd. From 2005, Motsepe was Chairman of Teal Exploration and Mining Incorporated.

Motsepe is also chairman of Ubuntu-Botho Investments, Non-Executive chairman of Harmony Gold Mining Co Ltd. and deputy Chairman of Sanlam Ltd.

Motsepe has been president of South Africa’s Chamber of Commerce and Industry.

First black billionaire in Africa

the first black billionaire in africa

Motsepe created Ubuntu-Botho Investments (UBI) (and in 2019 he owned 55% of it). In 2004 UBI entered into a BEE deal with insurance and financial services company Sanlam.

 The deal ended in 2014 when the debt had been paid and UBI acquired 13.5% of Sanlam but UBI has a 18.1% voting stake in Sanlam as its BEE partner.

UBI then started African Rainbow Capital (ARC), a wholly owned subsidiary of UBI. ARC’s joint chief executive is Johan van Zyl, former executive of Sanlam.

ARC has holdings in more than 40 companies, including TymeBank, industrial group Afrimat, agricultural company BKB, telecommunications company Rain, luxury property estate Val de Vie, and a minority stake in Alexander Forbes, the pension fund administrator.

Recognition

Motsepe won South Africa’s Best Entrepreneur Award in 2002.

 In 2004, he was voted 39th among the South African Broadcasting Corporation’s Great South Africans.

In 2008, he was reported as the 503rd-richest person in the world, according to the Forbes 2019 list of The World’s Billionaires, then ranked as the 962nd-wealthiest person in the world, and the third-wealthiest South African for 2019.

 In 2020, Motsepe was ranked as the 1,307th-wealthiest person in the world by Forbes, with a reported fortune of US$2.1 billion.

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Tony Kgoroge Net Worth

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Tony Kgoroge Net Worth

Glusea brings to you Tony Kgoroge net worth

Tony Kgoroge is a South African actor. He is best known for his performance as Jason Tshabalala in Invictus. He also stars as Zimele “Ngcolosi” Bhengu on e.tv’s soap, Imbewu: The Seed. Keep read to find Tony Kgoroge net worth.

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Tony was born on 21st April, 1974 in Bloemfontein, South Africa

He is married to actor Sthandiwe Kgoroge and they have children. When faced with debt recovery in 2018 he asked that people ignore his and his wife’s Instagram pages. They were only “ordinary people”. He was facing loss of earnings because he was not being paid for repeat fees by some broadcasters.

Tony Kgoroge Net Worth

Tony Kgoroge net worth is estimated at $11 million

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Lisa Fugard Net Worth and Biography

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Lisa Fugard net worth and biography

Glusea brings to you Lisa Fugard net worth and biography

Lisa Fugard is a South African writer and actor. She was born in Port Elizabeth, South Africa, the only child of playwright Athol Fugard and novelist Sheila Meiring Fugard.

Biography

She moved to New York City in 1980 to pursue an acting career, and has garnered numerous stage and film roles, including Isabel Dyson in the original production of her father’s My Children! My Africa! She, her husband, and son (born 2004), have lived in the desert of Southern California since early 2002, in Borrego Springs and Encinitas, on the coast north of San Diego, not far from where her parents now live.

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Since 1992, she has written many short stories for literary magazines, and articles for The New York Times travel section. In January 2006, she wrote the novel Skinner’s Drift, about turmoil on a South African farm in 1997.

Lisa Fugard Net Worth

Lisa Fugard net worth is still under review.

Her first novel, Skinner’s Drift, a powerful story of family secrets set in the harshly beautiful landscape of rural South Africa, was named a notable book of 2006 by the New York Times. Skinner’s Drift was also a finalist for the Los Angeles Times’ Art Seidenbaum Award for First Fiction and the runner-up for the 2007 Dayton Literary Peace Prize. 

 With her colleague,Windy Lynn Harris, she teaches the popular series of Writers Boot Camp courses. She lives in Southern California and is currently at work on her second novel. 

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Hlomla Dandala Net Worth

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Hlomla Dandala net worth

Glusea brings to you Hlomla Dandala net worth

Hlomla Dandala is a South African veteran actor, presenter and producer. He is best known for his roles as Derek Nyathi in Isidingo (1998–2001), title character Jacob Makhubu in Jacob’s Cross (since 2007), and host of the reality dating show All You Need Is Love from 2002 to 2003. 

Keep reading as we bring to you Hlomla Dandala net worth and biography.

Hlomla Dandala Biogrpahy

Dandala was born on 22nd September, 1974 in Eastern Cape, South Africa. He attended Secret Heart College and furthered at Wits University both in Johannesburg South Africa.

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Hlomla began acting in 1995 and has since starred in several movies.

He is best known for his roles as Derek Nyathi in Isidingo (1998–2001), title character Jacob Makhubu in Jacob’s Cross (since 2007), and host of the reality dating show All You Need Is Love from 2002 to 2003. He starred in the drama series Rockville as Gomorrah, the main antagonist of the third season, and e.tv’s prime time soap opera, Scandal! as Kingsley Siseko Langa from 2016 until 2019.

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As of 2018, Dandala stars in The River across Sindi Dlathu (who plays Lindiwe) as her husband, Commissioner Zweli Dikana. Dandala is the son of Mvume Dandala and has a sister Gqibelo. He speaks five languages: Afrikaans, English, Xhosa, Sesotho, and Zulu.

The veteran actor has been married two times with both ending in divorce. He is currently married to his new wife Brenda Dandala. He has four (4) children.

Hlomla Dandala Net Worth

Hlomla Dandala net worth is estimated at $300000. Among the movies he has starred includes;

  • Fools (1997)
  • Red Dust (2004)
  • Lord Of War (2005)
  • Coup! (made for TV, 2006)
  • Sniper Reloaded (2011)
  • Winnie (2011) – Oliver Tambo
  • Contract 
  • Honeymoon Hotel (2014)
  • Momentum (as Mr. Madison)
  • Happiness Is a Four Letter Word (2016) with Chris Attoh.

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