Snl24 | BREAKING: African Bank founder dies
Dr Sam Motsuenyane has died. Photo by George Mashinini
DR SAMUEL Mokgethi Motsuenyane, better known as “The Father of Black Business” died on Monday, 29 April aged 77.Â
Public Interest SA confirmed Motsuenyane’s death in a statement, describing him as a stalwart in entrepreneurship and ethical business practices.
Motsuenyane was one of the founders of the largest and best-known African business organisations, the National African Federated Chamber of Commerce (Nafcoc)Â in 1964.Â
Established in Soweto by black traders, Nafcoc was established to promote and encourage the development of black and small businesses in South Africa. It was through this establishment that saw Motsuenyane become one of the spearheads in the formation of the African Bank.
Reacting to the death, Public Interest SA said Motsuenyane was a beacon of integrity and innovation, championing ethical entrepreneurship and social responsibility.Â
Also remembering Motsuenyane was Tebogo Khaas, chairman of Public Interest SA and chief entrepreneur at the Institute of Chartered Entrepreneurs.
“As the sun sets on Ntate Motsuenyane’s earthly journey, we find solace in the knowledge that his legacy will continue to shape the future of entrepreneurship in South Africa.
“Dr. Motsuenyane’s contributions to our society are immeasurable and his memory will forever be cherished,” he said.
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Motsuenyane was born on 11 February 1927, in Potchefstroom, North West. In a birthday message in early February, African Bank took time to recognise him for the enormous efforts he invested in the bank.
“Dr Motsuenyane poured his heart and soul into the establishment of the African Bank. It was his fervent belief that our people could navigate the path from poverty to prosperity with the right financial partner at their side.
“He is the embodiment of the audacity to believe that continues to drive the growth and evolution of African Bank,” the bank said at the time.
Motsuenyane retired from Nafcoc in 1992 and joined Parliament where he was appointed leader of the house of senate and later the first Ambassador to Saudi Arabia from 1996 to 2000.
After retirement, he initiated a citrus farm project that has 145 plot owners organised under the name Winterveld United Farmers Association, which he founded in 2002.
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