South African businessman Patrice Motsepe has retired from his position as executive chairman of African Rainbow Minerals with effect from 16 February 2026. The diversified mining company confirmed that Motsepe will remain on its board and will assume the role of non executive chairman in line with updated Johannesburg Stock Exchange listing requirements.
In a statement issued by African Rainbow Minerals and reported by Business Day and News24, the company indicated that the governance change follows the implementation of the Johannesburg Stock Exchange Simplification Project. Under the revised listing requirements, the chair of a listed entity may not simultaneously serve as an executive director. Motsepe has therefore relinquished his executive responsibilities while continuing to provide strategic oversight in a non executive capacity.
Motsepe stated that the transition ensures compliance with the updated governance framework while enabling continuity in the company’s long term strategy. David Noko will continue as lead independent non executive director. With effect from the same date, Jacob van der Bijl has been appointed chief operating officer. Van der Bijl is a mining engineer who has held senior operational roles within the group for several years.
African Rainbow Minerals is a significant participant in Southern Africa’s extractive sector, with interests spanning platinum group metals, iron ore, manganese, coal and other mineral resources. Listed on the Johannesburg Stock Exchange, the company operates across several provinces in South Africa and maintains a role within regional mineral value chains.
Motsepe, born in Soweto in 1962, became the first black African to appear on the Forbes global billionaire list in 2008. His wealth is primarily derived from his shareholding in African Rainbow Minerals and investments held through African Rainbow Capital, which include stakes in Sanlam and TymeBank. Beyond business, Motsepe has served as president of the Confederation of African Football since 2021, following his election at the organisation’s general assembly in Rabat.
Motsepe is married to Dr Precious Moloi Motsepe and is the brother in law of President Cyril Ramaphosa. Public commentary has periodically speculated about his potential political ambitions within the African National Congress, particularly in light of leadership transitions anticipated ahead of the end of President Ramaphosa’s second term in 2029. Motsepe has previously stated that he does not have political ambitions and has distanced himself from such speculation.
The governance transition at African Rainbow Minerals takes place within a broader continental context in which African capital markets are strengthening regulatory oversight and corporate accountability. The Johannesburg Stock Exchange Simplification Project forms part of ongoing reforms aimed at enhancing transparency while reflecting domestic economic priorities.
Motsepe’s career has often been associated with post apartheid economic transformation in South Africa’s mining sector, where ownership patterns have evolved significantly over the past three decades. His continued presence on the board of African Rainbow Minerals signals institutional continuity during a period of regulatory adjustment. The company has affirmed its commitment to creating value for shareholders while recognising its responsibilities to employees, communities and broader stakeholders across the region.
As African economies navigate commodity cycles, energy transitions and governance reform, leadership realignments within major corporations such as African Rainbow Minerals are likely to be interpreted through multiple lenses, including compliance, succession planning and regional development. Motsepe’s shift from executive to non executive chairman represents a structural adjustment within the company he founded, rather than a withdrawal from corporate engagement.
