South African tycoon Zak Calisto’s Karooooo reports $230 million in revenue
Under Calisto’s leadership, the company has become a leading provider of intelligent transportation management and analytics.
South African billionaire Michiel Le Roux loses $34.5 million from Capitec Bank stake
This recent slump compounds a previous loss of $76 million recorded between April 8 and 11, when the market value of his stake in Capitec Bank fell below $1.5 billion.
Swiss bank sells $11.8-million stake in South African tycoon Neal Froneman-led Sibanye-Stillwater
UBS disposed of R216.17 million ($11.8 million) in shares on Sept. 26, 2023, trimming its holding from 5.07 percent to 3.26 percent.
South African tycoon Adrian Gore’s Discovery gets green light for $81.6-million bond listing
The two newly issued bonds, detailed in filings with the JSE on May 14, have nominal values of R576 million ($31.33 million) and R924 million ($50.26 million).
French billionaire’s firm buys additional $47.63-million stake in DStv parent, MultiChoice
Vivendi, partly owned by Bollore Group, is using its subsidiary Canal+ to steadily increase its stake in MultiChoice.
MTN’s service revenue dips by $539 million under Zimbabwean executive Ralph Mupita
Mupita attributed the decline to a challenging macroeconomic environment exacerbated by global geopolitical tensions.
South Africa’s second-richest man Nicky Oppenheimer gains $400 million in 10 days
Oppenheimer climbs to 224th spot on the global rich list, remains South Africa’s second-richest man.
Equity Group led by Kenyan banker James Mwangi reports $122.2-million profit in Q1 2024
Equity Group’s total assets rose to Ksh1.69 trillion ($12.91 billion) by the end of the quarter, a 10.46-percent rise from Ksh1.53 trillion ($11.69 billion) a year ago
Bank owned by one of Malawi’s richest men, Thom Mpinganjira, to pay $4.1-million dividend
The record dividend payout underscores its unwavering dedication to shareholder value and its position as one of the leading groups in Malawi’s financial services industry.
South African executive Arrie Rautenbach-led Absa opens doors in China’s capital
This move aligns with Absa’s client-centric approach, which is poised to play a growing role in global trade, particularly in the China-Africa investment relationship.
Jay-Z’s firm eyes $1-billion merger to expand portfolio
This potential merger with Pendulum underscores Jay-Z’s continued commitment to growing his business empire beyond music.
JP Morgan invests $215 million in South African tycoon Neal Froneman-led Sibanye-Stillwater
JP Morgan’s investment signals confidence in Sibanye-Stillwater’s ability to weather financial challenges and highlights the growth potential of the mining sector.
Kenya’s richest banker James Mwangi loses $2.4 million from stake in Equity Group
Equity Group’s share price on the NSE has declined by 5.63 percent, dropping from Ksh44.4 ($0.3377) on Apr. 18 to Ksh41.9 ($0.3187) at the time of this update.
Sasini, controlled by Kenya’s wealthy Merali family posts $22 million in revenue in H1 2024
The Merali family holds a majority stake of 65.46 percent in Sasini Plc, valued at approximately $25 million.
Ugandan tycoon Charles Mbire’s MTN Uganda posts $40-million profit in Q1 2024
This strong performance builds on MTN Uganda’s success in 2023, with total revenue rising 16.75 percent to Ush2.67 trillion ($687.97 million).
South African tycoon Laurie Dippenaar’s FirstRand gets nod for $16.2-million bond listing
This issuance brings the total amount outstanding under the company’s seven-year bond program to R41.01 billion ($2.22 billion).