South Africa's richest black man,
Patrice Motsepe, has announced he is giving away half his wealth to improve the
lives of the poor.
The mining magnate said the money would be handled by the Motsepe Foundation
to address education and health issues.
He said he was inspired by the word's two wealthiest men, Bill Gates and
Warren Buffet, who are encouraging billionaires to donate to charity.
Mr Motsepe has a net worth of $2.65bn (£1.67bn), Forbes' rich list
estimates.
Born in the Soweto township, he is a lawyer by training and South Africa's
first and only black billionaire.
He founded the publicly traded mining conglomerate, African Rainbow Minerals,
which has interests in platinum, gold, coal and other minerals.
He made most of his mining fortune through the government's black economic
empowerment policy, which mandates that mining companies be at least 26%
black-owned, says the BBC's Pumza Fihlani in Johannesburg.
Patrice Motsepe owns the
Mamelodi Sundowns football club
The businessman also owns Pretoria-based football club Mamelodi Sundowns.
Mr Motsepe made the announcement at an event in Johannesburg, where on a live
video link Microsoft founder Mr Gates praised his decision.
He said he was also going to join the
The Giving Pledge, a campaign started by Mr
Gates and investor Mr Buffet in 2010. So far more than 70 billionaires have
signed up to it.
"I decided quite some time ago to give at least half of 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," Mr Motsepe
said
in a statement.
Mr Motsepe said he was also inspired by the spirit of "ubuntu" - an African
belief system which translates as "I am because you are", meaning individuals
need other people to be fulfilled.
"South Africans are caring, compassionate and loving people. It has always
been part of our culture and tradition to assist and care for less fortunate and
marginalised members of our communities. This culture is also embodied in the
spirit and tradition of ubuntu/botho," he said.
His wife Precious Motsepe told the BBC that the move would help counter the
impression that Africa is always waiting for outside help.
"Yes we've got challenges but we also have an opportunity, particularly in
this century, to turn our continent around and portray Africa in a positive
light," she said.
"We can begin to do things for ourselves that show the world that not only
are we recipients of aid but we can also begin to do things for ourselves."
Source:
BBC News Africa