ANC lauds Motsepe's donation

2013-01-31 17:05
Patrice Motsepe. (Picture: Sapa)

Patrice Motsepe. (Picture: Sapa)

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Johannesburg - The ANC on Thursday saluted billionaire businessman Patrice Motsepe for donating at least half the money generated by his assets to the poor.

"This unprecedented act of goodwill in South Africa gives expression to our view of patriotic bourgeoisie, whose outlook reflects a deep understanding of development challenges and limitations facing South Africa and its people," African National Congress spokesperson Jackson Mthembu said.

"We believe that this gesture of philanthropy will assist many destitute South Africans to experience some relief that complements government initiatives... to mitigate poverty and indigence."

The ANC hoped Motsepe's move would send a message to "corporate citizenry".

"Patrice Motsepe should be lauded for exemplary leadership that must be seen as reflecting new realism that must confront business in their social commitment to eradicating deep-seated poverty that confronts under-developed countries," Mthembu said.

The mining magnate announced the donation on Wednesday. The funds would be given to the Motsepe Foundation, which would distribute them to various charities to benefit South Africans, Africans and others around the world.

The Democratic Alliance also welcomed the move.

"The DA warmly welcomes the move by billionaire Patrice Motsepe to significantly increase the amount he intends donating to good causes," said Democratic Alliance MP Tim Harris.

"Now National Treasury must make it easier for others to follow suit by boosting South Africa’s tax incentives for charitable giving."

Motsepe is the fourth richest man in South Africa and the sixth richest in Africa, according to Forbes. It calculates his net worth at around R29.93bn.

Harris said Motsepe made his donation in a tax environment which was significantly less generous.

"Our tax laws need to reflect the reality of need across our country by increasing the tax deductibility of charitable giving and making it easier to set up charitable foundations."

Read more on:    da  |  anc  |  patrice motsepe
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