The number of successful black businesses in South Africa has gradually grown since the country’s independence in 1994, thanks in part to the introduction of BEE.
Some of them have earned so much wealth that they have made the Forbes billionaires list, which is a tremendous accomplishment. Here are some of the wealthiest black businessmen in South Africa.
Patrice Motsepe is South Africa’s richest black businessperson and has been on Forbes’ list of billionaires for numerous years. With a net worth of $3.6 billion, he is one of the world’s wealthiest persons, according to Forbes.
Thus according Forbes, Cyril Ramaphosa not only serves as President of the Republic, but also a wealthy businessman with a net worth of more than $450 million in 2015.
He made the most of his money through the Shanduka Group, which has several stakes in areas like as mining and so on.
The current President’s net worth is unknown, although he is unquestionably affluent.
Tokyo Sexwale is an experienced politician who has also achieved substantial financial success, with a net worth of more than $200 million in 2015. He is the Chairman of the Mvelaphanda Group, which encompasses mining and other businesses.
His current net worth is unknown, however it is most likely in the quarter-billion dollar range.
Sipho Nkosi is a successful black businessman with a 2015 net worth of more than $160 million. He was previously the CEO of Exxaro Resources, in which he owned 2.7 percent.
He remained Exxaro’s CEO until his retirement, and he oversaw the company’s amazing growth and progress in implementing its plan. He shared his 36 years of experience in the South African resource industry with Sasol.
Phuthuma Nhleko is a South African businessman who was previously the CEO and Executive Chairman of MTN Group, a global mobile telecommunications firm with a strong focus on Africa.
As of 2015, Phutama Nhleko’s net worth exceeded $140 million due to his 2.4 ownership in MTN Zakhale.