South African billionaire Patrice Motsepe wears many hats. In addition to being president of the Confederation of African Football (CAF), the 64-year-old businessman has built an investment portfolio spanning from mining and renewable energy to banking and technology.
Motsepe spoke with CNN’s Eleni Giokos on how growth in AI hardware is driving demand for African minerals, the need for the continent to industrialize, and his vision for an Africa that moves beyond extraction to position itself at the center of the global economy.
The following interview has been edited for clarity and length.
CNN: Is it fair to say that the AI revolution cannot really happen without Africa?
Patrice Motsepe: It creates an exceptional opportunity for us. Africa has got some of the best minerals in the world, but other continents do have those minerals as well. So we have to compete (with) the cost of production of those minerals. And I think what is important is we have to create a legal fiscal tax, a monetary dispensation in every country where there are world-class minerals that is attractive and that competes, that allows those mining companies to want to come to Africa rather than other parts of the world.
