Motsepe gives R12m to Cape Town areas

Jun 19, 2013 |

Mining magnate and billionaire Patrice Motsepe has donated R12 million to help rid Cape Town of poverty and unemployment.

TIED UP: Patrice Motsepe

Motsepe reportedly said he was giving R6m each to Khayelitsha and Mitchells Plain to establish forums in the Motsepe family name.
"The forums will be established by you [the community] and will be the vehicle to assist our young entrepreneurs, co-operatives, youth, religious organisations and, most importantly, our children through education," he was quoted as saying in Khayelitsha on Tuesday.
He said the money should be spent in a year and invested in something profitable, not left to sit in the bank while people remained without jobs.
The communities would reportedly receive support from banks and the trade and industry department.
Motsepe previously committed to donating half his family's personal wealth to charity.
He has pledged to make R500m available for the cause over the next three to five years.