Tuesday, March 25, 2014

Patrice Motsepe Makes $742 million From Landmark BEE Deal

The South African billionaire, Patrice Motsepe, has added over R8 billion ($742 million) to his $2.7 billion fortune after his R200 million ($19 million) investment in Sanlam’s Ubuntu-Botho BEE deal in 2004 recently matured, adding a return of 45 percent per year for the last 10 years.

The Ubuntu-Botho Black Economic Empowerment (BEE) deal, which came to the end of its 10-year contractual period on 31 December 2013, created value of approximately R15 billion (after debts and interests

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