Speculation continues to swirl that billionaire businessman Dr. Patrice Motsepe will contest the ANC presidency next year.
Image: Karen Sandison / Independent Newspapers
There is growing speculation that African Rainbow Minerals executive chairman Patrice Motsepe, a well known South African businessman and billionaire, resigned his executive role from the company he founded to become the next President of the ANC.
But officially, the move was precipitated by the JSE tightening its corporate governance regulations on February 16, 2026, to bring its governance in line with international best practice.
Billionaire businessman Motsepe’s purported campaign to be ANC president is reported to be gaining traction within the party.
Motsepe's sister is Dr. Tshepo Motsepe, the wife of President Cyril Ramaphosa and the billionaire has been discussed in some ANC circles as the heir-apparent to Ramaphosa, who is expected to step down as ANC president at its national conference in December next year.
Those lobbying for Motsepe (whose campaign is being referred to as PM27) say that he will campaign for economic leadership as he is a proven builder of jobs and prosperity, clean and ethical governance, that he is trusted and is corruption-free.
According to the campaign, from which Motsepe has publicly distanced himself, he plans to create millions of jobs for South African youth through public-private partnerships.
Additionally, Motsepe’s lobbyists believes that he has global respect and influence, which would be instrumental in bringing investment to the country.
As the Confederation of African Football president, Motsepe, his campaigners argue, has a pan-African vision of uniting and empowering the continent. Due to his considerable riches, he has financial independence and is not captured or compromised, according to the PM27 campaign.
His campaigners also believe that he has a strong performance culture largely due to the results under his belt, accountability and his involvement in social upliftment including investing in education and health.
The campaign is looking to Motsepe to be a bridge-builder for unity in an increasingly fractured ANC, by uniting all South Africans and restoring the party’s credibility and inspiring hope.
Motsepe’s rumoured run for ANC presidency was precipitated by the Johannesburg Securities Exchange (JSE) tightening its corporate governance regulations earlier this month to bring its governance in line with international best practice.
"I look forward to continue contributing to the global competitiveness of ARM in my new capacity as non-executive chairman. I have undertaken my new role as non-executive chairman to ensure compliance with the Listings Requirements,” Motsepe said in a note to shareholders.
The requirement that the chairperson of a company should be independent, and not serve as an executive director, was first formally introduced in the King III Code of Corporate Governance, released in September 2009. King IV, released 2016 and King V released in 2025, expanded this principle, in line with global best practice.
For whatever reason Motsepe chose to ignore these precepts, the JSE announced amendments to its listing requirement on February 16, 2026, making it explicit that the chairperson of a listed company must not be an executive director.
“In order to ensure compliance, Motsepe, as the founder of African Rainbow Minerals (ARM) and after having performed the role of executive chairman of the company for many years, has retired from his position as executive chairman and as an employee of the company with effect from and including February 16, 2026,” ARM said in a notice to its shareholders.
Motsepe will continue to be a director of the company, and will serve as the non-executive chairman.
Political analyst Professor Kgothatso Shai said besides being an ANC member, Motsepe does not have an illustrious political track record.
“I won’t be surprised if he emerges as party president, hence the quality standards of leadership in our society have dropped too low. As it stands, the ANC is on the proverbial market and the highest bidder, including but not limited to Motsepe, can buy it,” he said.
Shai added that he does not expect much from Motsepe’s envisaged presidency of the ANC.
“If it happens, all it would do is to guarantee a peaceful retirement for his brother-in-law, Ramaphosa, should the need arise for the re-opening of cases about Phala Phala, (the sealed) CR17 (bank) statements and others,” he stated.
Governance expert and political analyst Sandile Swana said an ANC campaign in 2026 meant that the campaigner did not necessarily need to be visible in party structures.
“You run a campaign by identifying the heads of branches, regions and provinces and give them money … Money talks here, not politics,” he said.
Swana said the key role-players in the election of ANC leaders were not interested in advancing society’s interests or having compassion and empathy for people’s daily struggles.
“The people in charge of South Africa’s economy have long realised that the present politics are those of money, of the stomach. As long as you have unlimited resources you can win the presidency of the ANC even though you’re not loved at a grassroots level,” he said.
Swana explained that Motsepe does not have to use his own massive wealth to be ANC president.
“The money to ascend to the ANC presidency comes from the established business sector, who have made you their puppet, a position you accept because you also benefit,” he added.