Patrice Motsepe has been chosen to chair the Brics Business Council.
Cape Town - The wheels have been set in motion for poor communities to benefit from the wealth of mining billionaire, Patrice Motsepe.
Earlier this year, Motsepe announced that he would donate half of his earnings to charity through his foundation.
On Tuesday, R500 million was pledged to uplift the communities of Khayelitsha and Mitchells Plain.
The money is a windfall for those in need and they will decide themselves how best to spend the money.
The community has been tasked with electing a development forum with the help of key community leaders.
The elected advisory council will then identify worthy causes.
The Motsepe Foundation would like to see the money being used to develop school infrastructure such as libraries and laboratories.
It&39;s also encouraging the development of small businesses that can create jobs.
“Our suggestion to them is to focus on sustainability. We want our people to be self-sustained, be independent, to be in control of their own future,” said Motsepe.
The Motsepe Foundation will have a 51 percent say in the selection forums and it has promised transparency in all the decision making.
But some still fear the system will be open to abuse.
Selection fora will be established in all nine provinces, which are each expected to receive around half a billion rand.