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Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
Faan and Dirk van der Walt, the billionaire brothers behind WeBuyCars, are moving into property by taking JSE-listed RMH Holdings private. Their vehicle AttBid — 51 percent owned by the brothers and 49 percent by Atterbury Property Fund — has offered R0.47 per share, valuing the company at R654.58 million. The deal is expected to close by June 1, with full delisting to follow. It comes just two months after the brothers sold R866 million worth of WeBuyCars shares in a block trade that wiped R3.7 billion off the company's market cap.
Elsewhere, Kate Fotso, Cameroon's richest woman and CEO of Telcar Cocoa, is making her biggest move beyond cocoa yet — a 17 billion FCFA ($28.3 million) beverage plant in Souza that would pit her against Brasseries du Cameroun, a Castel Group subsidiary that has long dominated the market. And in Somerset, Koos Bekker's hotel is launching a nine-day garden festival to rival Chelsea, funded in part by $334 million in Naspers and Prosus share sales deployed into historic farming estates across four countries.
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WeBuyCars brothers buy JSE property giant RMH for R654 million RMH's remaining value is essentially its stake in Atterbury, one of South Africa's largest private property developers. Standard Bank has guaranteed the cash settlement. Investec called the offer fair and reasonable, though at the bottom of its fair value range of R0.47–R0.53. The van der Walts' effective economic interest post-deal will be approximately 36.54 percent.
Kate Fotso invests $28.3 million in Cameroon beverage plant Forbes Africa puts Fotso's net worth at $252 million, placing her among the 20 wealthiest individuals in Francophone Africa. The Souza brewery is her second major diversification after Bridge Riviera Development and Hospitalities, a luxury hotel venture incorporated in Douala in 2023.
Koos Bekker sold $334 million in Naspers and Prosus to build farming estates — now his Somerset hotel is launching a garden festival to rival Chelsea The South African tech billionaire has been quietly assembling historic farming estates across four countries. The nine-day garden festival at his Somerset property is his most public move yet into the English luxury hospitality scene.
This week's Investor Memo is scheduled for release later today!
Last week's is available for Elite subscribers:
