South Africa’s first black billionaire has just bought a luxury wine farm in Stellenbosch

The first black billionaire South Africa enters the wine industry. Patrice Motsepe, who is worth around $3 billion, has bought a luxury wine farm called Hidden Valley near Stellenbosch and Somerset.

It’s a smart move for Motsepe, who is revered as a “serial investor” in South Africa. He is the founder of South African football club Mamelodi Sundowns and a major shareholder in the country’s most successful rugby team, The Bull.

Motsepe, the first black African to be registered on the Forbes list of billionaires, now adds the wine industry to its portfolio at a time when interest in south african wine increases. The country is would have the ninth largest wine producer in the world, producing 4% of the world’s wine.

Located in the Western Cape Province, Stellenbosch sits on the valley of the Eerste River, bordering the mountains to the east. It is one of the oldest colonies in South Africa after Cape Town.

According to a report by Advisor to the wine industry.

What makes the vineyards particularly unique is that they are located on the northern slopes of the Helderberg Mountains. The land sits nearly 270 above sea level, making the soil prime for winemaking and desirable among investors, Boot Magazine reports.

Experts are excited about Motsepe’s investment and the potential it has to attract more people to the area.

“It will be a good thing in terms of publicizing the brand and making it more attractive to other markets,” said Maryna Calow, communications manager at Wines of South Africa. News24. “It could build strong relations between Gauteng and Stellenbosch. This will also develop the tourism industry in this region.

The good news is that you don’t have to wait for the black billionaire to open his cellar to taste wine in the region. Check out our list of black-owned wineries you can experience in South Africa by by clicking here.


Source link

Jean H. Vannatta