Billionaire Patrice Motsepe Retires as ARM Chairman, Sparking ANC Presidency Speculation
- Billionaire Patrice Motsepe has stepped down as executive chairman and employee of African Rainbow Minerals
- Motsepe's retirement aligns with the Johannesburg Stock Exchange's (JSE) new listing requirements for company chairs
- Speculation arose over Motsepe's potential ANC presidency candidacy, which he has firmly dismissed
Justin Williams, a journalist at Briefly News since 2024, covers South Africa’s current affairs. Before joining Briefly News, he served as a writer and chief editor at Right for Education Africa’s South African chapter.
Source: Getty Images
South African billionaire Patrice Motsepe has stepped down as executive chairman of African Rainbow Minerals (ARM) but will remain on the board.
Motsepe retired as executive chairman and as employee
According to BusinessTech, ARM confirmed that Motsepe retired as executive chairman and as an employee of the company he founded with effect from Monday, 16 February 2026. He will continue as a director and assume the role of non-executive chairman from the same date. The change follows the implementation of the JSE Simplification Project. Under the new listing requirements of the Johannesburg Stock Exchange, the chair of a listed company may not also serve as an executive director.
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Motsepe said he would continue contributing to ARM's global competitiveness in his new capacity and had accepted the non-executive role to ensure compliance with listing requirements. He added that the company remains focused on delivering value to shareholders and broader stakeholders. ARM confirmed that David Noko will remain the lead independent non-executive director. The company also appointed Jacob van der Bijl as chief operating officer with effect from 16 February 2026. Motsepe described him as a world-class mining engineer who has worked at ARM for many years.
Motsepe is South Africa's only black dollar billionaire and holds significant stakes in Sanlam, ARC, which owns TymeBank, and Mamelodi Sundowns. He also serves as president of the Confederation of African Football (CAF). He is the brother-in-law of President Cyril Ramaphosa and a major donor to the ANC. With Ramaphosa's second term ending in 2029, media speculation has suggested Motsepe could contest the ANC presidency. He has previously dismissed those reports, saying he has no political ambitions.
Source: Getty Images
Other stories about Motsepe
Mamelodi Sundowns owner and Confederation of African Football Chairperson Patrice Motsepe's campaign to be the president of the African National Congress (ANC) has kicked off. However, South Africans have misgivings about the possibility of Motsepe as a president after senior members of the party backed him in 2025.
African National Congress (ANC) Secretary-General Fikile Mbalula has once again dismissed allegations that multimillionaire and Mamelodi Sundowns owner Patrice Motsepe is campaigning to be the president of the party. This was after Motsepe's supporters launched a campaign for him to lead the party.
CAF president hits back critics over new AFCON decision
Briefly News also reported that Patrice Motsepe has addressed critics concerning CAF's decision to change the format of the Africa Cup of Nations.
The CAF President decided to move the competition from a two-year cycle to a four-year format starting from 2028.
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Source: Briefly News
