THE RICHEST TRIBE IN AFRICA – ROYAL BAFOKENG NATION 🇿🇦
Royal Bafokeng are an ethnic Tswana Clan recognized by Forbes & Business Insider as the richest ethic group in Africa. Bafokeng (meaning ‘People of the dew’) a Setswana-speaking traditional community ruled by a Monarchy covers 1,000 square kilometers (390 sq mi) in the North West Province of South Africa. The capital is Phokeng, near Rustenburg.
Kgosi August Mokgatle, who reigned from 1834 to 1891. Pooling community resources, he started buying back the land the Bafokeng had occupied for centuries from white colonialists. Thirty-three years after Mokgatle’s death, a part of the reef containing the world’s largest deposit of platinum group metals were discovered under Bafokeng land. Owing to Mokgatle’s purchasing of the land, the Bafokeng were able eventually (post apartheid) to claim royalties from platinum mining industry mines within the nation.
The nation has established a sovereign wealth fund, Royal Bafokeng Holdings, an investment entity in Johannesburg, which is responsible for overseeing the growth and maintenance of the community’s income streams. It is considered to be Africa’s most progressive community investment model, with total assets under management at approximately $4 billion. The RBN has invested royalties and dividends in a number of projects, and in civic administration and social services. These include:
Royal Bafokeng Sports: which is in charge of sport development among the residents of the area. A 45,000-seat stadium and athletic complex was built in Phokeng in 2000. The Royal Bafokeng Sports Palace was an official venue for the 2010 FIFA World Cup as the pnly private owned stadium to host a world cup in 2010.
Royal Bafokeng Administration (RBA): which is principally a town planning unit charged with service delivery and monitoring the progress of the Master Plan across all the regions. It looks after the various wards (kgotla) within the Nation to ensure that infrastructure and services are in line with the long-term vision.
Royal Bafokeng Institute (RBI): whose goal is to improve education and learning in the Royal Bafokeng Nation.
Some Projects Owned by Royal Bafokeng Nation:
🔹 Royal Bafokeng Stadium
🔹 Lebone II College
🔹 Royal Marang Hotel
🔹 Kgosi Leruo High Perfomance Center