South Africa’s first and only known black billionaire (in dollars), mining magnate Patrice Motsepe plans to get into the financial-services business, according to FinancialMail and Bloomberg reports. Motsepe is deputy chairman of Sanlam, the largest South Africa-based insurer. His planned new company, Ubuntu-Botho Financial Services, will be involved in asset management, private equity and insurance, IndependentOnline reports.
Sanlam sold a stake in its business to
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