Gwede Mantashe - EC; Minister of Mineral Resources

Gwede Mantashe

EC; Minister of Mineral Resources

South Africa Born 1955 38 views Updated Feb 22, 2026
Politics & Government Energy

$5M

Estimated Net Worth

As of 2024 • medium confidence

Financial Breakdown

Total Assets
$5M
Total Liabilities
$0
Net Worth
$5M

Asset Distribution

Assets vs Liabilities

Assets

Category Description Estimated Value
Real Estate Primary residence in Boksburg, Gauteng $892,857
Real Estate Farm in the Eastern Cape province $1,071,429
Business Holdings Shares in mining-related companies (historical involvement, exact holdings not publicly detailed) $535,714
Investments Pension fund from long tenure in government, ANC, and NUM $1,785,714
Cash Liquid assets and savings (ministerial salary and historical earnings) $714,286
Total Assets $5,000,000

Disclaimer: These financial estimates are based on publicly available information and should be considered approximate. Last updated: 12/30/2025

Biography

Gwede Mantashe Biography | Minister of Mineral Resources and Energy, South Africa Gwede Mantashe: A Pillar of South African Politics and Energy

Introduction: The Stalwart of South African Governance

Gwede Mantashe is a central and often formidable figure in contemporary South African Politics & Government. Born in 1955, his journey from a mineworker to one of the most powerful positions in the country epitomizes a trajectory intertwined with the nation's own political evolution. As the Minister of Mineral Resources and Energy (appointed in 2019), and previously as the National Chairperson of the African National Congress (ANC), Mantashe wields significant influence over South Africa's most critical economic sectors. His role is pivotal in navigating the complex transition from coal-dependent energy to renewable sources, while managing the interests of a historically powerful mining industry. A key achievement lies in his stewardship of the controversial but crucial Integrated Resource Plan (IRP 2019), which outlines the country's energy mix for the future, and his relentless focus on stabilizing the national power utility, Eskom.

Early Life and Education: Forging Resilience Underground

Gwede Mantashe was born on June 21, 1955, in the village of Cala, in the former Transkei region of the Eastern Cape. His early life was marked by the hardships typical of rural South Africa under apartheid. After completing his matriculation, economic necessity drove him to the gold mines of the Witwatersrand in the late 1970s. This experience proved formative, immersing him in the harsh realities of migrant labor and the potent crucible of worker organization. It was underground that Gwede Mantashe first engaged with the trade union movement, joining the National Union of Mineworkers (NUM) shortly after its formation in 1982.

His natural leadership and analytical skills saw him rise rapidly through the union ranks. While working full-time as a miner and later a shaft steward, he pursued his education with determination. He obtained a Bachelor of Commerce degree in Economics and Law from the University of South Africa (UNISA), followed by a Higher Diploma in Economic Principles from the University of the Witwatersrand. This combination of grassroots organizing experience and formal economic training equipped him with a unique perspective, blending worker-centric advocacy with pragmatic policy understanding, a duality that would define his later political career.

Career and Major Achievements: From Union Leader to Cabinet Minister

Gwede Mantashe's career is a testament to his strategic acumen and unwavering commitment to the ANC and its alliance partners. His major achievements span trade unionism, party leadership, and government.

Rise in the National Union of Mineworkers (NUM)

Mantashe succeeded the iconic James Motlatsi as Secretary-General of the NUM in 1998, a position he held for eight years. During his tenure, he consolidated the union's power, navigating the sensitive period of industry restructuring and job losses in the late 1990s and early 2000s. He was instrumental in founding the Congress of South African Trade Unions (COSATU)'s investment arm, Kopano Ke Matla, demonstrating an early engagement with economic transformation beyond the picket line.

Architect of ANC Stability and Ministerial Tenure

In 2006, he was elected Secretary-General of the ANC, a role he held for a decade during some of the party's most turbulent years. As SG, he was credited with maintaining organizational discipline and navigating fierce internal succession battles. In 2017, he was elected National Chairperson of the ANC. His appointment as Minister of Mineral Resources in 2018 (later expanded to Minister of Mineral Resources and Energy in 2019) placed him at the heart of the country's economic engine.

His major policy achievements as Minister include:

  • Promulgating the Integrated Resource Plan (IRP) 2019: This landmark policy document provided a long-term roadmap for South Africa's electricity generation, committing to a diversified mix including coal, renewables, gas, and nuclear.
  • Driving the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP): An emergency initiative to secure 2,000 MW of power to alleviate load-shedding, though not without controversy regarding selected bidders.
  • Advocating for a "Just Energy Transition": Mantashe has consistently argued that the shift from fossil fuels must not decimate coal-mining communities and must be paced to ensure energy security, often positioning himself as a cautious counterbalance to rapid decarbonization pressures.
  • Revitalizing Mining Exploration: He has overseen efforts to modernize South Africa's mining licensing system through the implementation of a new digital Mining Rights Administration System, aiming to reduce bureaucracy and attract investment.

However, his tenure has also been marked by significant challenges, including intense criticism over the pace of the renewable energy rollout, handling of corruption allegations in the fuel sector, and his department's stance on oil and gas exploration.

Personal Life, Legacy, and Political Philosophy

Known for his direct, no-nonsense communication style and deep, resonant voice, Gwede Mantashe is a private individual regarding his family life. He is married and has children. His interests are reportedly rooted in reading and political analysis. His legacy is complex and still in the making. To his supporters, he is a pragmatic, stable force—a "rock" of the ANC alliance who understands both the shop floor and the boardroom. He is seen as a guardian of the party's traditional alliance with labor and a cautious custodian of national assets.

To critics, he represents a faction within the ANC resistant to change, particularly in the energy sector, and overly protective of incumbent industries. Regardless of perspective, his impact on South Africa's political landscape and energy future is undeniable. His career embodies the journey of the liberation movement into governance, with all its attendant compromises, challenges, and enduring struggles for economic justice. His lasting impact will likely be judged by the success or failure of South Africa's energy transition and the long-term health of its mining sector.

Net Worth and Business Interests

As a senior government official, Gwede Mantashe's official salary is a matter of public record, set by the Remuneration of Public Office Bearers Act. His annual ministerial salary is reported to be in the region of R2.4 to R2.7 million. Unlike some of his contemporaries, Mantashe has not been widely associated with large-scale private business ventures. His financial disclosures have historically focused on his long-standing involvement with union investment vehicles like Kopano Ke Matla. He has, however, faced political scrutiny and allegations regarding security upgrades at his private residences, which have been topics of media investigation and opposition questioning. Mantashe has consistently framed his economic interests as being aligned with broad-based empowerment rather than personal enrichment, a stance consistent with his trade unionist origins. His public profile remains that of a full-time political and government figure rather than a businessperson.

For further reading on official policies, refer to the South African Government profile and for his political role, the African National Congress website provides context on his leadership positions.

Net Worth Analysis

As a long-serving government minister and former trade unionist, his wealth is not comparable to business tycoons on the Forbes list; estimates from South African media typically place his net worth in the low millions, primarily from his salary and investments.

Quick Stats

Category
Politics & Government
Country
South Africa

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