Another South African billionaire linked to presidency amid Ramaphosa succession debate

As South Africa’s political succession debate intensifies ahead of President Cyril Ramaphosa’s expected exit in 2029, billionaire businessman Tokyo Sexwale is increasingly being linked to conversations about the country’s future leadership and political direction.

• Tokyo Sexwale, a billionaire and former anti-apartheid activist, has been linked to the ANC succession debate ahead of the party’s 2027 leadership conference.
• A discussion document circulates within the ANC highlighting Sexwale’s credentials and suggesting he could restore investor and supporter confidence in the party.
• Despite the growing support, Sexwale expressed reluctance to run for the ANC presidency, citing high personal and political risks under current conditions.
• This follows earlier speculation involving billionaire Patrice Motsepe, reflecting concerns within the ANC about economic management and their future political dominance.

This time, former anti-apartheid activist and mining magnate Tokyo Sexwale has emerged in discussions ahead of the ANC’s crucial 2027 leadership conference.

South African President Cyril Ramaphosa is expected to complete his current and constitutionally final presidential term in 2029, following his re-election in June 2024 for a second full five-year term.

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Sexwale addressed the growing speculation during an interview on the SMWX podcast, where he responded to reports suggesting that ANC structures in KwaZulu-Natal were pushing for his return to frontline party leadership.

Last month, the Mail & Guardian reported that Sexwale had emerged as a possible contender to succeed Ramaphosa, with internal ANC lobbying efforts already underway.

According to the report, a group known as “Tokyo/Mvela Perspective” had produced a discussion document aimed at stimulating internal debate on succession within the ANC.

The document reportedly argued that Sexwale possesses the struggle credentials, governance experience, ethical standing, and strategic insight required to help stabilise the party during a period of political uncertainty.

The group further described Sexwale as a figure capable of bridging the ANC’s liberation-era values with the demands of governing a modern democratic state and restoring confidence among investors and party supporters as per Daily Investor

Responding to the speculation, however, Sexwale appeared reluctant to embrace the idea of contesting for the ANC presidency under current political conditions.

The billionaire businessman noted that entering the current political environment without assurances could come at enormous personal and political cost.

“As it stands right now, to throw me into that environment is dangerous. I don’t see any assurances, only sacrifices that could destroy everything we stood for,” he said.

Sexwale also suggested that his role may be more effective as a supporter of a future ANC presidential candidate rather than as a direct contender himself.

“I will be one of the people supporting them. I think I will be stronger in that role,” he added.

How Motsepe became part of ANC succession speculation

The renewed speculation around Sexwale comes just months after Motsepe was similarly linked to ANC succession conversations.

In February 2026, the Mail & Guardian reported that influential ANC insiders, business executives, and political stakeholders had discussed the possibility of Motsepe emerging as a unifying figure capable of stabilising both the ANC and South Africa’s economy after the party lost its parliamentary majority for the first time in the democratic era.

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Although Motsepe’s spokesperson firmly denied any political ambitions on behalf of the billionaire, reports suggested that an organised “PM27” initiative had already begun engaging political and business stakeholders around possible future leadership scenarios.

The growing attention around prominent business figures reflects mounting concern within parts of the ANC over investor confidence, economic stagnation, and the party’s ability to maintain political dominance ahead of the 2029 general election in Africa’s most industrialised economy.