Credited by many as one of the fathers of black economic empowerment in South Africa, Magomola was an early campaigner in the positive inclusion of Africans in the mainstream of the country’s economy. His leadership and influence were felt in some of the country’s largest companies where he served as a non-executive director and helped to shape transformative policies. He credits some of his successes to organized business associations such as National African Federated Chamber of Commerce (NAFCOC); Foundation of African Business and Consumer Services (FABCOS) which he chaired and Black Business Chamber that he was founder member of.  The  influence of these chambers permeated all sectors of business and together they formed powerful lobby groupings.

Dr Magomola is a former political prisoner on Robben Island who served time alongside some of the giants of South Africa’s liberation struggle in the 1960’s.  A few years after his release, he was later awarded a Fulbright Scholarship to pursue his post-graduate studies in the USA where he acquired a Masters in Business Administration.  He lived and worked for a number of years prior to returning to his native land.

Dr. Magomola is the author of the award-winning publication, Robben Island to Wall Street, where he chronicles his life journey as a teenage political activist to a business leader. In 2022 he was honored with the distinguished Chancellor’s Robben Island Alumnus Award by the University of SA Chancellor, former President Thabo Mbeki.

He is also the recipient of several awards including an honorary doctorate in Commerce and Economics from University of Zululand; Freedom of the City of Birmingham; the Black Management Forum Business Excellence to name a few.