On Friday, Patrice Mozebi became president of the Confederation of African Football (CAF) after the South African national team ran unopposed in Morocco.
Known for being one of the richest men in Africa, Mozippi is also the owner of 2016 African Champions Mamelodi Sundowns – But Who Is The Man Behind The Money? BBC reporter Bumza Fehlani took a closer look:
Many people are familiar with the phrase “keep up with the neighbors”, but are you familiar with the term “keep up with the Motsepes”?
You should be – because Patrice Mutsepi is Ninth richest A person in Africa, according to Forbes, and one of the nation’s first black billionaires.
Founder and Chairman of African Rainbow Minerals, he became a billionaire in 2008 – Forbes described him as the first African to do so.
His rise to prominence and wealth was not wasted on blacks in a country where oppressive apartheid laws have deprived the majority of the population of the good life, let alone job opportunities, for many decades.
Today it is not uncommon to hear the phrase “I am not Mozebi” from a parent who is so tired of asking for money, or hearing people say “I am Mozebi’s son / daughter” when they have some cash to play with after payday.
In short, he’s become a representation of fortune, and joking aside, it means something here to many people that Patrice Mutsibi is.
It’s a reminder of what’s possible, so how did Mozippi make his billions?
Buy cheap but aim for high
Mozebi set up his first mining company in 1994, and began buying low-yielding gold mines a few years later at a time when the gold market was stagnant and prices were favorable.
Soon these mines were converted and made profitable
His significant split was closely linked to the black economic empowerment policies that were introduced in South Africa to address the inequality created by decades of apartheid rule for white minorities, which ended in 1994.
Mining companies must own at least 26% of black ownership before a mining license is granted.
Since then, Motsepe’s mining empire has grown and now has interests in cobalt, nickel, iron ore, copper and coal.
A self-made man
Mozebi was born on January 28, 1962, named after Patrice Lumumba, the first elected Prime Minister of what is today the Democratic Republic of the Congo.
As a young man, he first learned about entrepreneurship from his father, Augustine Mutsipi, a member of the Tswana royal family.
The president owned a spaza (a type of department store popular in South African townships) in Hamanskral, just outside the capital, Pretoria.
During school holidays, he worked alongside his father as he began learning business basics.
Years later, he qualified as an attorney and became the first black partner at one of the nation’s leading law firms, Bowman Guelvillan.
He is a father of 3 who also holds a degree in Mining Law and Business from University of the Witwatersrand, Johannesburg.
Thanks to his estimated net worth of $ 3 billion (£ 2.15 billion), Mutsipi is today a mining magnate, investor and owner of Pretoria-based Mamelodi Sundowns, who has won a record 10 titles since the launch of the South African Premier League Soccer League in 1996.
Not only is he good at amassing wealth, Mutsipi, who has a lot of work to do while trying to revive a sick café, seems to be enjoying giving it up, too.
Al Mohsen supports many educational and health projects through his foundation, and his love for learning may have resulted from his upbringing by parents who were teachers.
In 2013, Mozebi was the first African to sign Bill Gates and Warren Buffett’s pledge to give at least half of his fortune to charity.
Last year, his foundation, Motsepe, pledged to donate 1 billion rand ($ 65.6 million) to help respond to the Coronavirus pandemic in South Africa.
Married to Precious Motsibi, who is a doctor and businesswoman in her own right, the future FIFA Vice President is no stranger to the world of politics.
South African President Cyril Ramaphosa is the husband of his older sister, while Geoff Radebe, the country’s most experienced minister, is married to his other sisters.
While everything that Mozibi touches appears to be turning into gold, he has been targeted by some political parties who have indicated that his strong family ties give him an unfair advantage.
But he distanced himself from the allegations, adding that he always “came from money” and that his fortune was not illegal.
The ‘Africa Loves Trump’ Controversy
Despite being a household name, Mozibi has rarely generated controversy, but last year he became the subject of a social media buzz over a comment he made at the World Economic Forum dinner in Davos.
In January 2020, he told then-US President Donald Trump: “Africa loves America, Africa loves you” – a comment that the controversial statesman was apparently happy with.
However, it angered people at the time due to Trump’s seemingly harsh handling of the “Black Lives Matter” protests back home. Mozebi later apologized, saying he had no right to speak on behalf of anyone but himself.
His life marked many early adopters, and the billionaire has been described as a skilled businessman with a good look at the next “big thing”.
This will not necessarily bring to mind the CAF, as the organization needs major overhaul given its faltering finances, and corruption associations in light of Advances ban And the weakness of the image in the eyes of the sponsors and the public.
So, while stressing time and time again on the need to pour private money into CAF’s coffers, this billionaire now faces one of his biggest challenges – restoring credibility to one of FIFA’s most troubled leagues.