A black South African billionaire has set a wonderful example for Africa.
My hope is this super gesture will be followed by others.
This is definitely the first for Africa.
South Africa’s only black billionaire Patrice Motsepe has decided to follow Bill Gates and Warren Buffet in giving his wealth to philanthropic he launched with his wife.
This is unheard of in the continent where African politicians and business people accumulate vast wealth while plundering their countries.
When Motsepe announced he would be making an important announcement, the wide speculation was he was going to announce new acquisitions.
The speculation was this billionaire was going to get in the media business by acquiring newspapers.
To the surprise of everyone, he announced he was going to make a significant donation to Motsepe Foundation he founded in 1999 by the African Rainbow Minerals and his wife Precious.
This foundation overseas the philanthropic work done by the family which includes education and health and mainly development and up-liftmen of women, youth, workers and the disabled.
The same foundation also helps churches and the development of entrepreneurs as well as for social, sporting and music.
You hardly or never hear of such generosities in Africa.
Africa has been plagued by years of colonial rule, environmental problems, and the climate that brings extreme drought and food shortage.
Many African countries started gaining independence just prior to the 1960s.
Africa has created many millionaires but so far no one has been willing to part with any of the money they have accumulated.
Motsepe has signed Buffet’s Giving Pledge.
At least half of the funds generated by his family’s assets will be given away to good causes during his lifetime.
The Giving Pledge was launched by Buffet, formerly the world’s wealthiest man, in 2010 alongside the Bill and Melinda Gates Foundation.
Motsepe has now become the first African to join the ranks, though not by any means the African billionaire philanthropist.
This South African amassed his fortune in the region of $2.65 billion in 2012.
According to available reports, the Motsepe Family Foundation is committed to improving the living conditions and lifestyles of poor, unemployed and marginalized persons through health, agricultural and educational projects.
Donation to charity will certainly be a tremendous help to the people of South Africa, where poverty remains widespread.
“Most of our donations have been private, but the need and challenges are great, and we hope that Giving Pledge will encourage others in South Africa, Africa and other emerging economies to give and make the world a better place,” Motsepe said.
Bravo to Motsepe.