Moti Group founder takes step back after reputational damage

Wealthy founder of the Moti Group of companies, Zunaid Moti, has stepped away from the business to make way for new CEO, Dondo Mogajane, he said on Wednesday.

The controversial businessman said the damage done to his reputation over the years, as a result of numerous criminal allegations, meant that the value he is able to add to management and growth of the company has become limited. 

“While I have a clear criminal record as I have never been found guilty of any of the ludicrous accusations made against me, as a business leader, I am big enough to say that the assertions have impacted my family, the businesses, and to a large extent my life,” Moti said.

His business is a private, family owned investment group of companies that boasts interests in a wide range of industries including property development, car financing, aviation, mining and beneficiation.

Mogajane, a former director-general at National Treasury, was appointed as the CEO of the Moti Group in June 2022.

Working alongside Mogajane will be Moti’s son, Mikaeel, who serves as the company’s executive chairman. 

“Zunaid Moti spent the past 18 years adeptly building the Moti Group into a multibillion-rand empire through strategic mergers, high-quality acquisitions, and identifying untapped opportunities for new business ventures,” the company said in a statement.

Moti, who claimed that he has created employment for more than 1 000 people, said he would now focus his attention on African Chrome Fields, his chrome-mining operation in Zimbabwe, as well as philanthropic ventures in southern Africa.

“I have exciting plans for African Chrome Fields, including finalising the construction of a high-tech aluminothermic factory,” Moti said.

“Uplifting young entrepreneurs is part of my drive to give them an opportunity to find innovative ways to solve traditional business problems.

“They will help me in my new projects and create sustainable businesses that can help economies grow to give the people of this continent workable solutions that will benefit them too.”

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Anelisa Sibanda