Who owns Ubuntu-Botho Investments?
The value created makes the transaction between Sanlam and the broad-based empowerment group, Ubuntu-Botho, which is led by respected business leader Patrice Motsepe, one of the most successful transactions of its kind in the financial services sector and in South African history.
What does Patrice Motsepe invest in?
#1064 Patrice Motsepe In 2016, he launched a new private equity firm, African Rainbow Capital, focused on investing in Africa. Motsepe also has a stake in Sanlam, a listed financial services firm, and is the president and owner of the Mamelodi Sundowns Football Club.
Which companies are owned by Patrice Motsepe?
Dr Motsepe is also the founder and Chairman of Ubuntu-Botho Investments, African Rainbow Capital (ARC), African Rainbow Energy and Power (AREP) and UBI General Partner (Pty) Ltd. He is also the Deputy Chairman of Sanlam, Chairman of Harmony Gold and President of Mamelodi Sundowns Football Club.
What is Botho Ubuntu?
Botho/ubuntu is a philosophy that is as old as humanity itself. In Africa and South Africa it was a philosophy and a way of life for many indigenous tribal groups. It is an African cultural belief that called on individuals to come together and to be more communal in their outlook and, thus, to look out for each other.
What Ubuntu means?
Ubuntu (Zulu pronunciation: [ùɓúntʼù]) is a Nguni Bantu term meaning “humanity”. It is sometimes translated as “I am because we are” (also “I am because you are”), or “humanity towards others” (in Zulu, umuntu ngumuntu ngabantu).
How did Motsepe get rich?
Motsepe made his fortune through mining interests that eventually expanded in 2004 to form a successful multifaceted mining company, African Rainbow Minerals (ARM). Motsepe then earned a bachelor’s degree in law from the University of Swaziland and a law degree from the University of the Witwatersrand, Johannesburg.
What made Motsepe successful?
Motsepe made his fortune through mining interests that eventually expanded in 2004 to form a successful multifaceted mining company, African Rainbow Minerals (ARM). In spite of having grown up in the apartheid era, Motsepe fared better than many other South African blacks.
What is Botho in English?
Botho incompletely translates from the national language Setswana into English as ‘respect’. The concept is commonly expressed in the phrase ‘Motho ke motho ka batho’ meaning ‘I am because you are. On the one hand, Botho is used as a call for civility and respect shown to the ruling elite.