South African billionaire Patrice Motsepe donates a further $1.2million towards the eradication of poverty and unemployment

Patrice Motsepe, founder and chairman of African Rainbow Mineral Ltd. PHOTO/Simon Dawson/Getty Images

Earlier this year we reported that South African billionaire Patrice Motsepe had pledged to donate half of his fortune to charitable causes in Africa – more specifically South Africa, making him the first African to match a pledge made by Bill Gates and Warren Buffett.

Earlier this week, he announced that he would donate a further US$ 1.2 million towards the eradication of poverty and unemployment in the communities of Khayelitsha and Mitchells Plain both located in Cape Town, South Africa’s second largest city.

According to Motsepe, each of the communities will receive US$600,000, and will be channeled into two Motsepe Development Forums in both communities and the funds must be spent on relevant programs to alleviate poverty and un-employment between June 2013 and June 2014.

The billionaire philanthropist has pledged to renew the donations on an annual basis.