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Iconic African bank founder and ‘father of black business’ passes away

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Dr Samuel Motsuenyane, a founding member of the NAFCOC and known as the 'Father of Black Business,' died at 97.

The father of Black Business, Dr Samuel Motsuenyane, has passed away. The SABC has confirmed that Motsuenyane died Monday afternoon. He was 97.Dr. Samuel Motsuenyane, a founding member of Nafcoc and a key figure in establishing the African Bank, has died at 97.

In 1964, Motsuenyane co-founded Nafcoc with the vision of becoming South Africa’s foremost business advocate. Ramaphosa highlighted Motsuenyane’s recognition as an Esteemed Member of the National Order of the Baobab , acknowledging his outstanding personal accomplishments and his influential role in advancing the growth of black-owned enterprises and economic empowerment.

“His philosophy of self-sufficiency is today entrenched in the constitutional right each of us enjoys to freely choose our trade, occupation or profession and in the socio-economic rights that our Constitution safeguards.

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African Bank founder and ‘Father of Black Business’ diesDr Samuel Motsuenyane, a Nafcoc founding member and an instrumental player in African Bank’s formation, has passed away.
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