Patrice Motsepe has stepped down as executive chairman of African Rainbow Minerals (ARM), the mining company he founded in 1997, a move coinciding with new rules from the Johannesburg Stock Exchange (JSE) and sparking renewed speculation about a potential run for the presidency of the African National Congress (ANC).
The change, effective February 16, 2026, sees Motsepe transition to a non-executive chairman role, complying with a recent JSE amendment prohibiting board chairs from simultaneously holding executive functions. ARM simultaneously appointed Jacques van der Bijl as its first chief operating officer, framing the changes as part of a broader leadership restructuring. “In order to ensure compliance, Dr Patrice Motsepe… has retired from his position as executive chairman and as an employee of the company,” ARM stated in a press release.
While ARM presented the shift as a matter of corporate governance, political analysts suggest the timing is significant. A recent analysis by The Common Sense argued that investors should view Motsepe’s move as potentially signaling his interest in seeking the ANC presidency when the party next chooses a leader. This interpretation gained traction following polling data from the Social Research Foundation, conducted late last year, which indicated Motsepe leading a list of potential successors with 23% support. ANC Secretary General Fikile Mbalula received 19% and Deputy President Paul Mashatile garnered 13% in the same poll.
Motsepe’s potential entry into the political arena is notable given his status as a prominent businessman and a major donor to the ANC. He too attended the party’s National General Council in December. He is also the brother-in-law of current South African President Cyril Ramaphosa. The ANC currently faces a decline in public support, grappling with issues of corruption, economic stagnation and public dissatisfaction with unemployment and municipal service delivery. Analysts suggest the party’s leadership question is now central to its ability to regain voter confidence.
Motsepe has been linked to a potential run for ANC President since at least 2022. Despite the speculation, Motsepe has not formally announced any political ambitions. He stated his intention to continue contributing to ARM’s global competitiveness in his new role as non-executive chairman, emphasizing his commitment to ensuring compliance with JSE regulations. “I look forward to continue contributing to the global competitiveness of ARM in my new capacity as non-executive chairman,” he said.
The ANC has not commented on the implications of Motsepe’s move, and no timeline has been established for the selection of its next leader.
