JOHANNESBURG - President Cyril Ramaphosa says he's saddened by the passing of NAFCOC co-founder, Dr Sam Motsuenyane.
Motsuenyane, widely regarded as the father of black business, has died at the age of 97.
He served as a member of Parliament and was the first South African ambassador to Saudi Arabia.
He was also the recipient of the National Order of the Baobab in recognition of his role in fostering the development of black-owned businesses and economic liberation.
One of his biggest achievements was establishing South Africa's first black bank during the apartheid years - African Bank.
The current chairperson of the bank Thabo Dloti, says Motsuenyane's success in starting the bank was because of his ability to see past adversity and focus on opportunity.
President Cyril Ramaphosa is deeply saddened by the passing of black-business pioneer, co-founder of National African Federated Chamber of Commerce (NAFCOC) & SA’s first ambassador to Kingdom of Saudi Arabia, Dr Sam Motsuenyane at 97.https://t.co/Sc8AvISxx3
📷 @DrSMFoundation pic.twitter.com/RMo37UreA4— DIRCO South Africa (@DIRCO_ZA) April 30, 2024