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Billionaire businessman Patrice Motsepe admires Afrikaans entrepreneurs for “intertwining” their success with that of their communities.
He says entrepreneurship in South Africa is disappointing and government nepotism is laughable.
He feels strongly about redressing black inequality, but has no plans to become a politician himself.
On Thursday, the soft-spoken Motsepe addressed journalists at the World Economic Forum on Africa, hosted at the Cape Town International Convention Centre.
“We have no future in South Africa if we don’t create opportunities for poor people. And regarding [government] corruption and jobs for pals, you cannot build an economy on that,” he said.
When asked whether he would enter the political arena himself, the 53-year-old mining tycoon laughed and said he wouldn’t.
“I can make a bigger change, make a larger positive contribution, by saying politically incorrect things from where I am sitting right now,” he said.
Motsepe, founder and executive chairperson of African Rainbow Minerals, and the owner of Mamelodi Sundowns football club, again spoke of his commitment to The Giving Pledge, an international charity through which billionaires donate vast chunks of wealth to philanthropy. It was founded in 2012 by Bill Gates and Warren Buffett.
“Most successful families have a duty to their community and to those less fortunate. Take the Afrikaans business community. The great success of families was intertwined with the success of their communities,” he said.
He said his parents, who owned a thriving grocery store and beer hall outside Pretoria, did the same when he was younger.
“They paid school fees for people in the village. This reflected their recognition that they had no future if no one in their village succeeded,” he said.
He said entrepreneurship in South Africa was a disappointment.
“There needs to be more focus on entrepreneurship. When I was growing up, my father and grandfather were entrepreneurs. From them I learnt that the colour of skin is irrelevant to being competitive.”
Asked about BEE policy inhibiting economic regularity and certainty in South Africa, he said while the latter were crucial, so was BEE.
In principle, it helped to redress black inequality.
“If you look at what happened in many African countries, when colonialism came to an end, there was a new black elite in power.
“They were the exclusive beneficiaries of economic growth and development. But the majority of the black population went backwards, or did not benefit. This is a recipe for long-term political and social instability.
“So the thinking behind BEE is sound, that we create meaningful black participation in the economy.
“We need to create a middle class of black and white people.”
When asked about the Fifa scandal, he said: “I have learnt not to express an opinion until I know the facts.
“South Africa has to adhere to global best conduct. But I will use the starting point of innocent until proven guilty.”
Motsepe’s fortune is estimated to be worth R36 billion.
