Patrice Motsepe, Johann Rupert-linked SEACOM to acquire Africell Uganda assets
The move by SEACOM represents a significant step forward in its five-year strategic expansion plans.
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The move by SEACOM represents a significant step forward in its five-year strategic expansion plans.
The Swiss luxury goods firm reported revenues of $6.42 billion in the three months between October and December 2021.
The revenue posted in the third quarter of Richemont’s current financial period represents a 32-percent increase.
Rupert’s net worth got a shot in the arm in 2021 due to sustained buying interest in Richemont and Remgro shares throughout the year.
Rupert is one of the top five richest billionaires in Africa with a fortune amounting to over $11.8 billion.
Remgro is a diversified investment holding established in the 1940s by the late Dr. Anton Rupert.
Rupert’s Grindrod Shipping is a global shipping company dual-listed on NASDAQ and the Johannesburg Stock Exchange.
Rupert is the richest man in South Africa with a fortune worth more than $12.1 billion.
A $10,000 investment in Richemont on Dec. 31 2020 is worth $18,372 today.
Distell is South Africa’s most expansive wine and spirits maker.
Richemont recently disclosed that it is in talks to sell off a majority stake in the loss-making online retailer YNAP.
In addition to acquiring Distell, Heineken will acquire Namibia Breweries and Ohlthaver & List.
The development puts to bed rumors of a potential $100-million capital raise to bolster the YNAP’s operations.
CIVH is a holding majority-owned by South African billionaire Johann Rupert’s Remgro Limited.
The U.S. hedge fund Third Point Management owns a 1.2-percent stake in the Swiss company.
His present net worth makes him the second richest man in Africa behind Nigerian billionaire Aliko Dangote.