Lists

Top 10 Richest Black South Africans

Patrice Motsepe $2,600 million  African Rainbow Minerals

Patrice Motsepe

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 2012, Motsepe was named South Africa’s richest man, topping the Sunday Times’ annual Rich List with an estimated fortune of R20.07 billion ($2.4 billion).

In 2003, he became the owner of football club Mamelodi Sundowns.

In 2013, he joined The Giving Pledge, committing to give half his wealth to charitable causes.

Cyril Ramaphosa $550 million Shanduka Group

Cyril Ramaphosa

politician, businessman, activist, and trade union leader who has served as the Deputy President of South Africa under Jacob Zuma since 2014.He was elected as Deputy President of the African National Congress (ANC) at the ANC National Conference in Mangaung in December 2012. Ramaphosa is also the Chairman of the National Planning Commission which is responsible for strategic planning for the country

Widely respected as a skilful and formidable negotiator and strategist, Ramaphosa built up the biggest and most powerful trade union in South Africa—the National Union of Mineworkers (NUM)—and played a crucial role, with Roelf Meyer of the National Party, during the negotiations to bring about a peaceful end to apartheid and steer the country towards its first democratic elections in April 1994.

In recent times he has been criticised however for his business interests – including a seat on the board of Lonmin. On 15 August 2012 he called for action against striking platinum miners engaged in ‘dastardly criminal’ conduct.

He is married to Dr. Tshepo Motsepe and he has four children.

 

Tokyo Sexwale $200 million Mvelaphanda Group

Tokyo Sexwale

South African businessman, politician, anti-apartheid activist, and former political prisoner. A charismatic leader, Sexwale was imprisoned on Robben Island for his anti-apartheid activities, alongside figures such as Nelson Mandela. After the 1994 general election—the first universal franchise election in South Africa—Sexwale became the Premier of Gauteng Province. Later, he served in the government of South Africa as Minister of Human Settlements from 2009 to 2013.

 

Sipho Nkosi $163 million Exxaro Resources

Sipho Nkosi

President of Chamber of Mines of South Africa. He is also the Chief Executive Officer of Exxaro Coal. He was appointed to the Board of Sanlam Limited in 2006. Nkosi holds a Bachelor of Commerce degree with honours from the University of South Africa.

 

Phuthuma Nhleko $142 million MTN

Phuthuma Nhleko

 

Former CEO of the MTN Group, which is an Africa-focused holding group involved primarily in the operation of GSM cellular telephone networks.

The group, which employs 6,000 people, reported turnover of R29bn for the year ended March 2005.

Nhleko is also chairman and one of the founding members of Worldwide African Investment Holdings, an investment holding company with interests in the petroleum, telecommunications and information technology industries. He helped build the company to a book value of investments of about R3,5bn.

As CEO of MTN group, Mr Nhleko has been appointed in 2007 to the Board of Directors of the GSM Association (GSMA), the global trade association for mobile phone operators. He serves the board during a two-year term from January 2007.

He was previously a senior member of the Standard Corporate & Merchant Bank corporate finance team. He also practised as a civil engineer and project manager for the Urban Foundation, and was a senior road engineer for the Ministry of Works in Swaziland.

Nhleko is a director of Johnnic Holdings, Nedbank Group and Old Mutual SA.

Nhleko’s academic qualifications include a BSc in civil engineering from Ohio State University and an MBA in finance from Atlanta University.

 

Vincent Mntambo $95 million ASG Consulting

Vincent Mntambo

Chairman for ASG Consulting Solutions. He was previously a Senior Lecturer at the University of Natal as well as an Executive Director of the Independent Mediation Services of South Africa. Mntambo Vincent was appointed to the Aveng board in July 2001.

 

Leonard Sowazi $68 million Emira Property Fund

Leonard Sowazi

Nkululeko Sowazi is an Independent Non-Executive Chairman of Litha Healthcare Group.

 

Mike Teke $64 million Optimum Coal

Mike Teke

Michael Teke is a Chief Executive Officer of Optimum Coal Holdings Limited. Prior to this he had a career in Human Resources. He has extensive experience in people and business management.

 

Saki Macozoma $53 million Standard Bank/ Safika

 

Saki Macozoma

After spending five years in prison on Robben Island for anti-apartheid activities he joined the South African Council of Churches. He also worked for the ANC and South African Breweries. He became a Member of Parliament in 1994 but left the Legislature in 1996 to take up a position as Managing Director of Transnet Limited, a job he held for five years.

Macozoma is one of a small group of former ANC politicians who left politics and rapidly became successful in the business world.

He is chairman of Liberty Holdings, chairman of Stanlib, Tshipi é Ntle Manganese Mining, Ntsimbintle Mining and Safika Holdings. He is deputy chairman of the Standard Bank Group and deputy Chairman of Volkswagen SA. He is chairman of the council on Higher Education, chairman of the University Council of the University of the Witwatersrand and a member of the Board of Governors of Rhodes University. He is the Chairman of the Kwazulu–Natal Philharmonic Orchestra.

Mr. Macozoma is also former President of Business Leadership South Africa, former Chairman of the Presidents Big Business Working Group and Co-Chairman of the Business Trust.

 

Dalikhaya Zihlangu $50 million Eyabantu Capital

 

Dalikhaya Zihlangu is a Non-Executive Director for Exxaro Resources Limited. He is also an Independent Non-Executive Director of Sentula Mining Limited. Zihlangu holds a Bachelor of Science and an MBA.

 

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