South African tycoon Motsepe rules out presidential bid

South African tycoon Motsepe rules out presidential bid / Photo: Abdel Majid BZIOUAT - AFP/File

South African tycoon Motsepe rules out presidential bid

ECONOMY 22.07.2026

South African mining magnate Patrice Motsepe on Wednesday ruled out a future in politics, dismissing speculation that he could one day run for the country's presidency.

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The 64-year-old billionaire and head of African football has been repeatedly mentioned in the South African media as a potential successor to his brother-in-law, President Cyril Ramaphosa, whose second and final term ends in 2029.

"South Africa does not need me to go into politics," Motsepe told reporters in Johannesburg.

"There are many very capable and good leaders in this country," he said.

Motsepe also ruled out a bid to succeed Gianni Infantino as FIFA chief, saying he remained focused on his role at the helm of the Confederation of African Football (CAF).

"I have no desire or ambition to be president of FIFA. That doesn't excite me," he said. Motsepe's current CAF term runs until 2029.

South Africa's succession debate has intensified within the governing African National Congress (ANC) as Ramaphosa navigates a turbulent second term after the party's worst electoral performance forced it into an uneasy coalition government.

The president has also faced renewed pressure over a cash-heist scandal, in which $4 million was stolen from his private game farm.

The ANC blocked impeachment proceedings against Ramaphosa over the scandal in 2022, but the Constitutional Court revived the process in May.

Motsepe brushed aside suggestions that he could be drawn into the contest to succeed Ramaphosa.

"The only problem I have is I'm not part of any group," he said.

"That's why even some of my friends say things which are not flattering, because somebody said to them that somebody might persuade me to change my view."

In December, Motsepe attended the ANC's national general council meeting, where some delegates wore T-shirts emblazoned with the slogan "PM27" -- a reference to a possible presidential bid in 2027. A lobbying website bearing the same name has also been launched.

He founded and owns mining company African Rainbow Minerals and is Africa's eighth richest person, with a personal wealth estimated at $3.5 billion, according to Forbes magazine.

In 2012, Motsepe made the Forbes billionaire list, making him the first black South African to reach the mark.

He also owns CAF Champions League winners Mamelodi Sundowns.

A.Samuel--CPN

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Coin Press - South African tycoon Motsepe rules out presidential bid