African economy
South African billionaire Patrice Motsepe was announced as the new president of the Confederation of African Football (CAF) on Friday.
Motsepe succeeds Malagasy Ahmad Ahmad, who is serving a two-year FIFA ban over "governance issues", and will require his vast array of business skills to fix the organisation.
The 58-year old businessman is the owner and President of the Mamelodi Sundowns club since 2003.
He is the brother-in-law of President of South Africa Cyril Ramaphosa.
Motsepe succeeds disgraced Malagasy Ahmad Ahmad, who is serving a two-year FIFA ban over "governance issues", and will require his vast array of business skills to fix the organization.
The South African is the founder and executive chairman of African Rainbow Minerals and is non-executive chairman of Harmony Gold, one of the world’s largest gold mining companies.
Motsepe has an estimated fortune of $2.1 billion and is the first black African on the Forbes rich list.
Motsepe is the first South African to lead CAF, following in the footsteps of two Egyptians, a Sudanese, an Ethiopian, a Cameroonian and a Malagasy.
02:21
DRC amputee football tournament offers hope and a path to recovery
11:19
Dangote’s Big Energy Expansion: From Nigerian Refinery to African Powerhouse {Business Africa}
01:11
FIFA Chief Infantino calls for review of football governance after investment backlash
11:18
'African risk premium': AU launches own credit rating agency [Business Africa]
01:02
Lionel Messi set for emotional farewell as Argentina faces Benin
11:16
Algeria: diversifying beyond oil and gas [Business Africa]