Breaking News

South Africa's richest blackman to give away big slice of family wealth

by Staff Reporter
30 January 2013 | 8130 Views

Mining billionaire Patrice Motsepe announced today that he and his family are giving half the funds generated from assets owned by them to the Motsepe Family Foundation.

The funds will be used to uplift those less well off, the family said in a statement.

It is not yet clear how much money this amounts to.

With Basic Education Minister Angie Motshekga present at the announcement, in Johannesburg, Motsepe said education remained one of the best investments in any country.

"We want to build a track record where ordinary South Africans can really feel that they are making a difference," Motsepe said.

"Let me emphasise that the challenges are huge," he said, adding that the money donated could not significantly deal with the challenges that face South Africa. However, it was important for those who were successful to help the less fortunate.

"We are not going to allow you to suffer alone."

Late last year, Motsepe handed out R10-million to rural communities and churches.

That windfall brought the total amount of money Motsepe has donated since the inception of his African Rainbow Minerals black economic empowerment trust in 2005 to R85-million.

The largest single beneficiary was the National Women Development Trust, which pocketed R1.4-million.

Nehawu and Sadtu also smiled all the way to the bank when Motsepe gave R970,000 to each organisation. This means they have each received R8.5-million since the inception of the trust.

Other beneficiaries included rural development trusts and churches - including the Zion Christian Church, Grace Bible Church and Methodist Church. The SA Council of Churches also received R1-million.




In his announcement today, Motsepe said he had joined the Giving Pledge, launched by Microsoft founder Bill Gates and investor Warren Buffett, in terms of which the wealthy are asked to give away at least half their wealth.

Motsepe's statement read: "I decided quite some time ago to give at least half the funds generated by our family assets to uplift poor and other disadvantaged and marginalised South Africans, but was also duty-bound and committed to ensuring that it would be done in a way that protects the interests and retains the confidence of our shareholders and investors".

riches

Source: BDLive and Sowetan

Could there be war if Grace Mugabe becomes President?

Yes
75.38%
No
8.31%
Who cares?
16.31%
325

Comments

Latest Classifieds (Click Here For More)

News Updates

Email:

Latest News

Eziko Theatre Laboratory - WhatsApp update

by Byo Residents | 24 October 2014 | 152 Views

'Mujuru's US ties behind fallout with Mugabe' - VICE-PRESIDENT Joice M...

by Staff reporter | 24 October 2014 | 1355 Views

Maid steals from dead employer - A MAID who had an affair with her la...

by Thubelihle Mabhena | 24 October 2014 | 1059 Views

'Joice Mujuru is corrupt and incompetent,' says Grace Mugabe - The Fir...

by Farirai Machivenyika and Felex Share | 24 October 2014 | 735 Views

Makoni, leave Grace Mugabe alone - The First Lady is a natural pick by...

by Suitable Kajau | 24 October 2014 | 1374 Views

Man rapes donkey - A Tsholotsho teenager was arrested by after village...

by Staff Reporter | 24 October 2014 | 1040 Views

Prisoner admits to sodomising inmate - A 31 year old inmate at Khami M...

by Staff reporter | 24 October 2014 | 2290 Views

Sangoma (72) rapes minor - A 72 year old traditional healer allegedly ...

by Staff reporter | 24 October 2014 | 1796 Views

Tsvangirai faces eviction from Highlands' mansion - MDC-T leader Morga...

by Staff reporter | 24 October 2014 | 3827 Views

MDC factions headed for a clash - The two MDC formations that currentl...

by Staff reporter | 24 October 2014 | 2019 Views

'Mujuru's political future in Mugabe's hands' - Vice-President Joice M...

by Staff reporter | 24 October 2014 | 3882 Views

Grace Mugabe admits elevating Mujuru - First Lady Grace Mugabe yesterd...

by Staff reporter | 24 October 2014 | 2022 Views

Mugabe refuses to ditch Parly colonial bling - President Robert Mugabe...

by Staff reporter | 24 October 2014 | 1900 Views

Karikoga Kaseke sabotages Dr Grace Mugabe rally - Zimbabwe Tourism Aut...

by Staff reporter | 24 October 2014 | 2500 Views

Mujuru hit by phony cyber campaign - The Zanu-PF propaganda wars and m...

by Staff reporter | 24 October 2014 | 2511 Views

Zanu-PF's team Gamatox vs Team Zvipfukuto - Line-ups - As President R...

by Staff reporter | 24 October 2014 | 3313 Views

Robert Mugabe faces internal revolt - PRESIDENT Robert Mugabe is facin...

by Staff reporter | 24 October 2014 | 2865 Views

Grace Mugabe's War Vets speech - Video - https://www.youtube.com/wat...

by Staff Reporter | 24 October 2014 | 1917 Views

Victory and Going to Top Gears - Itai Dzamara - Victory and Going to T...

by Itai Dzamara | 24 October 2014 | 1906 Views

I salute you Cde Grace! - Dear Editor, I salute you cde Grace!I would ...

by Denford Madenyika (Denny) | 24 October 2014 | 2765 Views

Man in court for stealing friend's salary - A 26-year-old man stole hi...

by Staff Reporter | 24 October 2014 | 2054 Views

What did Grace Mugabe say to the War Vets? Word for word speech

by Staff Reporter | 24 October 2014 | 4235 Views

Mphoko distanced himself from land wrangle - ZIMBABWE'S former ambassa...

by Mashudu Netsianda | 24 October 2014 | 1216 Views

Crunch Zanu-PF Politburo meeting on today - THE crunch Zanu-PF Politbu...

by Staff reporter | 24 October 2014 | 2087 Views

EU hints on scrapping of sanctions against Zimbabwe - New British Amba...

by Lloyd Gumbo | 24 October 2014 | 1418 Views

'Mujuru owns 10% of Daily News,' says Grace Mugabe

by Staff reporter | 24 October 2014 | 3089 Views

Zanu-PF headed for a split - ZANU-PF could be on the verge of a split ...

by Elias Mambo | 24 October 2014 | 3762 Views

Zanu-PF problems now fierce and overwhelming, says Dabengwa - ZAPU lea...

by Staff reporter | 24 October 2014 | 2676 Views

No more 'obscene salaries' as govt unveils new salary scale for counci...

by Staff reporter | 24 October 2014 | 2069 Views

Gift Banda's ex-girlfriend faces arrest - A Bulawayo Court has issue...

by Staff Reporter | 24 October 2014 | 2185 Views

Entertainment

Carl Joshua Ncube to star in game show - Comedian Carl Joshua Ncube wi...

by Staff reporter | 23 October 2014 | 721 Views

LadyBee Anondida - Official video

by Staff Reporter | 23 October 2014 | 1745 Views

Zim representative in the Big Brother Africa survives eviction - Zimba...

by Staff reporter | 20 October 2014 | 2745 Views

Grace Mugabe's political comedy takes ZTV hostage - For the past two w...

by Staff reporter | 20 October 2014 | 5126 Views

Oliver Mtukudzi to deliver lecture at Musica 2014 - Zimbabwe's interna...

by Staff reporter | 19 October 2014 | 1529 Views

Gezha maoko - Ladybee (Official Video)

by Staff Reporter | 19 October 2014 | 2658 Views

Matebeleland Music & Arts Festival - Sivala umnyaka ngengoma lapho sit...

by Staff Reporter | 17 October 2014 | 1772 Views

Obediah Matulana releases Christmas DVD - Bulawayo-based musician Obed...

by Staff reporter | 16 October 2014 | 2054 Views
iBlog

Protect Your Greatest Small Business Asset: Time

if your work week is way more than 40 hours, your smartphone is glued to your hand, and your to-do list is multiple pages of overdue tasks—you know how valuable every minute of your time is.your smartphone and tablet make doing business from anyw... Read More
Sergey 05 September 2014 ago

The Nsa Gets An Ok For Telephony Metadata Collection Yet Again

As much as we’d like to forget about the national security agency (nsa) and its mass surveillance program, it seems that there is no distracting ourselves from this unnerving reality.missing from the news for quite some time now, the issue has resu... Read More
SecNews 09 July 2014 ago