Motsepes open purse-strings

Rochelle de Kock

NELSON Mandela Bay’s economy received a big boost yesterday when billionaire couple Patrice and Precious Motsepe pledged R10-million towards alleviating poverty and unemployment in the city.

The money will be managed by the still-to-be-established Nelson Mandela Bay Motsepe Foundation Development Forum.

The couple were on the Motsepe Foundation roadshow to listen to the plight of the poor in towns and cities across the country, with specific focus on the highly populated provinces.

The provinces that will receive a large chunk of the R500-million pledged by the family over the next three to five years are the Eastern Cape, Gauteng, KwaZulu-Natal and Limpopo.

The lion’s share of the money – R100- million – will be spent on boosting education. The rest will be spent on women development, cooperatives, sports, arts and culture.

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