Ten richest black men

2011-09-12 07:34

The value of these top dogs is based on the value of JSE-listed company shareholdings of listed directors based on the March 31 2011 share price, writes Mpho Sibanyoni.

1. Patrice Motsepe

Number 1 on the overall list of the richest individuals and companies in South Africa, Motsepe is worth at least R23 billion.

This qualified attorney also owns a stake in mining firm African Rainbow Minerals and Sanlam. Motsepe is a former president of the National Federated Chamber of Commerce and Industry.

This week he was elected as chairperson of a steering committee comprising presidents of national black organisations and black business stalwarts that will lead an organisation that broke away from Business Unity South Africa.

2. Cyril Ramaphosa
Politician and businessman Ramaphosa’s wealth sits

at R2.2 billion.

He has stakes in Assore, Bidvest, Mondi, MTN,

SABMiller and Standard Bank. Ramaphosa is a qualified attorney who also

used to be legal adviser for the National Council of Trade Unions. He

bought a stake in the McDonald’s franchise in South Africa this year.

» Ranked 13th on the overall list.

3. Sipho Nkosi
Exxaro chief executive Nkosi’s wealth is R1.6 billion.

He also owns a stake in Sanlam. He was a founder and chief executive of

Eyesizwe Coal, one of SA’s largest coal producers.

Prior to founding

Eyesizwe in 2001 he spent three years with Asea Brown Boveri Sub Sahara

Africa and Alstom SA, initially as managing director of ABB Power

Generation (SA) and then as country manager of ABB/Alstom Power until

December 2000.

From 1993 to 1997 he was marketing manager for Billiton


» Ranked 22nd on the overall list.

4. Vincent Mntambo
Exxaro director Mntambo is worth R914.9 million.


is also chairperson of ASG Consulting Solutions. He is a former

lecturer at the University of Natal, executive director of the

Independent Mediation Services of South Africa and director-general in

the Gauteng provincial government.

He is also the chairperson of

Metrobus Limited, director of Eyesizwe Mining and a non-executive

director of SA Tourism.
» Ranked 29th on the overall list.

5. Leonard Sowazi
Exxaro director Sowazi is worth 622.8 million.


also owns stakes in Emira Property Fund and Litha Healthcare Group.

Sowazi is executive chairperson of the Tiso Group.

He serves as a member

of the investment committee of Tiso Private Equity Fund II and Tiso

Private Equity Fund I. He is also the chairperson of Idwala Industrial

Holdings, Home Loan Guarantee Company and the Financial Markets Trust.

He is a non-executive director of African Explosives Limited of AECI


» Ranked 35th on the overall list.

6. Mike Teke
Optimum Coal chief executive Teke’s wealth stands

at R608 million.

Before joining Optimum he was human resources director

at Impala Platinum. He previously worked in human resources at Bayer and

Samancor and was vice-president of human resources at Ingwe Collieries.

He has a Bachelor of Education degree from the University of Limpopo, a

Bachelor of Arts degree from the University of Johannesburg and a

Master of Business Administration degree from the University of South

Africa’s School of Business Leadership.

» Ranked 36th on the overall list.

7. Sakumzi Macozoma

Macozoma owns stakes in the Standard Bank Group

worth R513 million.

He is the chairperson of investment manager Stanlib

and Liberty Life. Stanlib is wholly owned by the Liberty Group.


also serves as deputy chairperson of Standard Bank SA and is director

of the Liberty Group and Volkswagen SA. Macozoma is a significant

shareholder in Safika Holdings.

» Ranked 39th on the overall list.

8. Dalikhaya Zihlangu
Exxaro director Zihlangu’s assets hover at R466.36 million.

He is chief executive

of Eyabantu Capital Consortium. Between 1989 and 1994 he was a

developer and shift boss at Vaal Reefs Gold Mining Company.

From 1995

until 2002 he was shift boss, mine overseer, operations manager and mine

manager at Impala Platinum Limited. He was later chief executive of

Alexkor. He is a non-executive director of the South African National

Oil and Gas Company, chair of its human capital committee and on its

business strategy committee.

» Ranked 44th on the overall list.

9. Dr Mlungisi Kwini
Optimum Coal’s non-executive director, Kwini’s

wealth is worth at least R432.6 million.

Optimum Coal is the

sixth-largest coal producer in South Africa. Kwini chairs Kwini Mining

Investments, Ilitha Resources and Lukhanyo Transport and Logistics, a

family-owned business that provides transportation and logistics

solutions to the industrial mining and petrochemical sectors. Kwini

holds a doctorate in chemistry from the University of California in the


» Ranked 53rd on the overall list.

Eliphus Monkoe
Monkoe is worth R425.6 million and owns a stake in

Optimum Coal Holdings.

He is a former chief operating officer at Becsa

and Ingwe Collieries, BHP Billiton’s wholly-owned energy-coal business

in South Africa. He also owns Monkoe Coal Investments.

» Ranked 39th on the overall list.

Sources: Who Owns Whom and Who’s Who SA

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.