Legendary S.A Entrepreneur and ‘Father of Black Business’ Dr Sam Motsuenyane Passes Away
Dr. Samuel Motsuenyane, co-founder of Nafcoc, pioneer of black entrepreneurship, and founding chairman of African Bank. Image credit: @GodPenuel via X.
Published by: Rorisang Masenya
Dr Samuel Motsuenyane, a founding member of the National African Federated Chamber of Commerce and Industry (Nafcoc) and a key figure in the creation of African Bank, sadly passed away on April 29, 2024, at the age of 97. A towering figure in South African business, he leaves an extraordinary and enduring legacy.
Dr. Motsuenyane was hailed as the “Father of Black Business” for his immeasurable contributions to establishing and mentoring Black business leaders and entrepreneurs in South Africa. He believed deeply in the power of entrepreneurship to uplift communities and was a champion of ethical business practices.
In a statement upon his passing, Public Interest SA described him as “a stalwart in entrepreneurship and ethical business practices.”
In 1964, Dr. Motsuenyane co-founded Nafcoc with a vision of giving Black South African businesses a powerful voice. Recognizing financial access as a critical hurdle for Black entrepreneurs during apartheid, he played a pivotal role in overcoming immense barriers to establish African Bank. The bank opened its first branch in 1975, serving as a beacon of economic empowerment.
Dr. Motsuenyane’s illustrious career extended beyond the business world. He served as a distinguished member of Parliament and South Africa’s first ambassador to Saudi Arabia. His diplomatic efforts further strengthened ties with Oman, Yemen, Kuwait, and Bahrain.
News of his passing has resulted in an outpouring of tributes. Tebogo Khaas, chair of Public Interest SA and chief entrepreneur at the Institute of Chartered Entrepreneurs, stated, “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.” Among those paying public tribute to the great man, was the country’s President Cyril Ramaphosa.
“His philosophy of self-sufficiency is today entrenched in the constitutional right each of us enjoys to freely choose our trade, occupation or profession.“
President Cyril Ramaphosa, on Dr Motsuenyane’s lifetime of service.
Dr Sam Motsuenyane’s remarkable life story is a testament to his unwavering entrepreneurial spirit, his commitment to economic justice, and his profound impact on South African society. His contributions to the advancement of Black businesses, and his exemplary leadership in both the business and political spheres, have earned him a revered place in South African history.
About The Author
