No, Patrice Motsepe is NOT running for ANC president
Patrice Motsepe has once again dismissed speculation that he plans to run for president of the ANC at its 2027 elective conference.
Billionaire mining magnate Patrice Motsepe has once again dismissed speculation that he plans to run for president of the African National Congress at its 2027 elective conference.
Motsepe, who chairs African Rainbow Minerals, addressed the rumours while speaking to shareholders during the company’s latest financial results presentation.
He described claims that he is preparing a leadership bid as “false and unfounded.”
‘PM27’
Motsepe also used the opportunity to publicly distance himself from the so-called “PM27” succession campaign that has circulated in political discussions and on social media.
The businessman told investors that his priority remains the work of African Rainbow Minerals and its contribution to the country’s economy.
One of South Africa’s wealthiest entrepreneurs
Motsepe, one of South Africa’s wealthiest entrepreneurs, has frequently been mentioned in political speculation due to his prominence in business and philanthropy, but he has consistently denied any intention to enter frontline party politics.
He reiterated that his focus is on growing the company and supporting economic development in South Africa.
According to the latest Forbes Real-Time billionaires list, Patrice Motsepe is the third-richest South African – and 1 121st-richest person in the world – with a net worth of $3.7 billion (R612 billion).
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