Billionaire Motsepe presidency could unlock SA’s economic potential, analyst says – report

Johannesburg – Billionaire businessman Patrice Motsepe could help accelerate South Africa’s economic growth to between 2% and 3% annually if he became president, according to political analyst Frans Cronje, who believes decisive reforms in energy and transport could unlock the country’s economic potential.

According to Daily Investor, Cronje made the remarks during a webinar hosted by Foord Asset Management on Thursday, 15 October, amid speculation about Motsepe’s possible entry into the African National Congress (ANC) leadership race.

Cronje argued that Motsepe’s experience leading the Confederation of African Football (CAF) demonstrated his ability to make difficult decisions and improve an organisation.

He believes similar leadership could help address South Africa’s longstanding economic challenges.

Annual economic growth

Among the reforms Cronje proposed were greater private-sector involvement in the country’s ports and railways, fewer barriers to oil and gas development, and the refurbishment of existing coal-fired power infrastructure.

He believes these measures could help raise annual economic growth to between 2% and 3%. However, the projection reflects Cronje’s assessment rather than a confirmed economic forecast.

Cronje also highlighted Motsepe’s potential appeal among voters and the business community, citing polling data from his research firm. Nevertheless, a presidential bid remains uncertain, with Cronje presenting it as one of several possible political scenarios.

Motsepe has previously distanced himself from calls to enter politics. In July, he told Newsday: “South Africa does not need me to go into politics. There are many very capable, very good leaders in this country.”

Addressing structural obstacles

His comments come as South Africa continues to grapple with sluggish economic growth, weak investment and infrastructure constraints. These challenges have limited the country’s ability to create jobs and reduce unemployment.

In March, Business Day reported that Motsepe had distanced himself from the PM27 campaign promoting him as a potential successor to President Cyril Ramaphosa, describing the speculation surrounding the campaign as politically motivated.

Although Cronje believes Motsepe could provide the leadership needed to accelerate economic growth, achieving that outcome would depend on implementing reforms and addressing structural obstacles.

Motsepe has not confirmed plans to contest the ANC leadership or seek the South African presidency.