Patrice Motsepe: ANC Presidential Bid, ARM Exit & Succession

February 23, 2026 Priya Shah – Business Editor Business

Patrice Motsepe has stepped down as executive chairman of African Rainbow Minerals (ARM), effective February 16, 2026, a move prompted by new listing requirements on the Johannesburg Stock Exchange (JSE). The change coincides with a surge in speculation regarding a potential bid by the billionaire for the presidency of the African National Congress (ANC).

Motsepe, who founded ARM in 2003, will remain with the company as a non-executive chairman, a position compliant with the JSE’s new rules prohibiting the chair from also serving as an executive director. The shift is a direct result of the JSE Simplification Project, designed to modernize listing requirements, according to a company statement. Jacques van der Bijl has been appointed as ARM’s first Chief Operating Officer, also effective February 16, 2026.

“I look forward to continue contributing to the global competitiveness of ARM in my new capacity as non-executive chairman,” Motsepe said. “I have undertaken my new role as non-executive chairman to ensure compliance with the Listings Requirements.” David Noko will continue as lead Independent Non-executive Director.

The timing of Motsepe’s transition has ignited renewed discussion about his potential entry into the ANC presidential race. With President Cyril Ramaphosa’s second term ending in 2029, analysts are examining potential successors. Polling conducted by the Social Research Foundation late last year reportedly placed Motsepe ahead of other prominent ANC figures, including Secretary General Fikile Mbalula and Deputy President Paul Mashatile, garnering 23% support.

Motsepe’s profile as a successful businessman and his cross-factional appeal within the ANC, are seen as potentially advantageous in a party facing declining support and grappling with issues of corruption and economic stagnation. He is South Africa’s only Black dollar billionaire, with significant holdings in Sanlam, TymeBank owner ARC, and the Mamelodi Sundowns football club. He also currently serves as president of the Confederation of African Football (CAF).

Despite previous statements distancing himself from political ambitions, speculation persists, fueled by his prominent position and familial ties – he is the brother-in-law of President Ramaphosa. A political analysis published by The Common Sense suggested investors should view Motsepe’s move at ARM as indicative of potential political aspirations.

ARM has emphasized its commitment to shareholder value and stakeholder benefits amidst the leadership changes. Motsepe stated, “ARM remains committed and focused on creating value for its shareholders and benefitting its stakeholders.”