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🇿🇦THE BEE 100: PROF GUMEDE’S R1 TRILLION LOOTERS LIST‼️ Key Finding: “Over R1 trillion has been transferred to fewer than 100 politically connected individuals under the banner of black economic empowerment” 🔴TOP BEE BILLIONAIRES & MAJOR BENEFICIARIES 1. CYRIL RAMAPHOSA • Net Worth: R14 billion ($800 million) • Major BEE Deals: Standard Bank consortium, Shanduka Group, multiple mining deals • Position: President of South Africa • Quote: “They feel good when they see me rich” 2. PATRICE MOTSEPE • Net Worth: R33.5 billion ($1.8bn) • Major Deal: BEE: Sanlam transaction – R8 billion profit from R200 million investment • Other Deals: Mining and telecom BEE transactions, African Rainbow Capital • Family: Brother of Bridget Radebe 3. TOKYO SEXWALE • Net Worth: R1.5 billion ($100 million) • Major Deal: R13 billion tender involvement, R1.3 billion BEE acquisitions • Position: Former Minister of Human Settlements • Background: Diamond magnate, multiple government positions 4. SAKI MACOZOMA • Net Worth: R865 million • Major Deal: R1.6 billion Standard Bank and Liberty BEE deal (2004) • Company: Safika Holdings (Founded 1995) • Background: Struggle veteran and political prisoner turned billionaire 5. PHUTUMA NHLENGETHWA • Major Deals: MTN’s R1.1 billion BEE deal (2002), BEE deals in telecoms (2003-2005) • Company: Pembani Group • Background: “Deal maker of note” – multiple major BEE deals 6. BRIDGET RADEBE (Bridgette Motsepe-Radebe) • Net Worth: R1.5 billion ($105 million) • Position: Sister of Patrice Motsepe, married to Minister of Energy • Achievements: “South Africa’s first black female mining entrepreneur” • Background: Vast mining BEE deals 7. SIPHO NKOSI • Company: Former Exxaro CEO; Eyesizwe Mining • Major Deals: Kumba Iron Ore’s “biggest BEE deal” (2006), Exxaro 2005 BEE structure • Other: R20 billion credit from Great Basin Gold BEE deal • Background: Multiple mining BEE transactions 8. VINCENT MTHAMBO • Net Worth: R1.1 billion • Education: Yale University • Company: ASG Consulting Solutions (Chairman) • Position: Former director • Profile: Called “South Africa’s humble, multi- millionaire man” 9. LEHLOGONONO SOWAJI (Nthikole Leonard Sowaji) • Net Worth: R1.5 billion • Company: Tiso Group (co-founded 2003), Tiso Blackstar Group • Position: Kagiso Tiso Holdings Chairman • Background: Executive Chairman 2003-2010 10. MIKE TKE • Net Worth: R825 million • Positions Held: Seriti Resources Holdings Group CEO; Mhlobiso Holdings Group • Major Deals: Anglo American coal mines acquisition (R2.3 billion, 2017) • Position: Former Chamber of Mines president 11. DALIHLAYAYA ZHLANGI • Net Worth: R825 million • Company: Merafe Resources (Founder and CEO) • Background: Former AngloAlpha executive, Barlowrand, former Alexander State (Standard CEB) • Deals: Multiple mining and telecom BEE deals 🔴 BANKING & FINANCIAL SERVICES: • Standard Bank BEE consortium members • Liberty BEE deal beneficiaries • Sanlam BEE transaction partners • Various black elite shareholding entities 🔴 TELECOMMUNICATIONS: • MTN BEE deal beneficiaries • Vodacom BEE partners • Cell C BEE shareholders 🔴 GOVERNMENT TENDER BENEFICIARIES: • Various state capture beneficiaries • SOE BEE deal recipients • Government contract BEE partners 🔴 KEY CHARACTERISTICS OF THE BEE 100: • Political Connections: o ANC leadership positions o Trade union background o Government ministerial positions o Family connections to ministers • Recycled Beneficiaries: o Same individuals in multiple deals o “Transformed and empowered over and over again” o Cross-sector participation • Deal Patterns: o Minimal initial investment o Massive returns through political access o Preferential tender awards o Monopolistic market positions 🔴PROF GUMEDE’S DAMNING CONCLUSIONS: “BEE only benefits a very small group of politically connected, & tied to the ANC, linked to the trade unions, and the same people are recycled again and again” “…is a covert transfer, stimulus, this is state-enabled looting under the guise of empowerment…” “Black Economic Empowerment has led to increased poverty, unemployment and inequality in South Africa” “South Africa’s BEE model has created a model of corruption because people set up companies just to get a contract” 🔴 THE R1 TRILLION BREAKDOWN: • Individual Fortunes: Top 12 beneficiaries worth over R80 billion combined • Major Deals: Individual transactions worth hundreds of millions to billions • Sector Concentration: Mining, banking, telecommunications, government contracts • Time Period: 30 years since 1994 • Beneficiaries: Fewer than 100 politically connected individuals and families 🔴 MINING SECTOR BENEFICIARIES: • Mxolisi Mgojo – Exxaro Board CEO, SESITI shareholder • Duduhe Moleone – Eyesizwe Mining shareholder • Daphne Mokwena – Eyesizwe Mining shareholder • Masello Radebe – Eyesizwe Mining shareholder • Tim Tlelolilo – Scinta Resources • Vunene Kumbe – Iron Ore BEE partners • Multiple Anglo American BEE consortium members • Seriti Resources and shareholders Source: Prof William Gumede, Wits School of Governance