Billionaire Patrice Motsepe will invest R10-million in alleviating inequality, poverty and unemployment in the Nelson Mandela Bay Metropolitan Municipality.
According to an SABC News report, the investment is part of the Motsepe Foundation’s R500-million donation to the country, which will be spread across all nine provinces.
The mining magnate, who was in Port Elizabeth to oversee the selection of a development forum, is confident that his initiative will succeed.
A spokesperson for the Motsepe Foundation, Kenneth Makhanya, says that the development forums will need to start accepting applications for assistance by September and start seeing to the ‘needs of the people.’
Article source: http://business.iafrica.com/news/877101.html