Africa’s first Black billionaire Patrice Motsepe loses $100 million as ARM struggles
The decline follows a steep 16 percent drop in ARM’s share price over the past five days, with the stock sliding from R162 ($8.8) to R135 ($7.33).
Patrice Motsepe
Africa’s first Black billionaire Patrice Motsepe’s mining empire battles falling earnings
African Rainbow Minerals (ARM), led by Motsepe, forecasts a 55% drop in headline earnings on weaker iron ore prices.
South African billionaire Patrice Motsepe’s ARC, raises stake in JSE-listed Alexforbes to $264 million
Patrice Motsepe’s ARC raises its stake in JSE-listed Alexforbes to $264.34 million, reinforcing its influence in South Africa’s financial services sector.
Top 10 South African businessmen driving change in real estate
From thriving city centers to expanding suburban areas, demand for both residential and commercial properties is growing steadily.
Sanlam, backed by Patrice Motsepe, partners with Fedhealth to expand affordable healthcare in South Africa
Sanlam partners with Fedhealth to provide integrated healthcare, insurance, and investment solutions, expanding affordable healthcare access to South Africans.
Lesaka, linked to Africa’s first Black billionaire Patrice Motsepe, posts $36.7 million loss in H1 2024
Lesaka’s H1 2024 revenue rose to $292.36 million from $279.98 million a year earlier, but mounting costs hit profitability.
Africa's first Black billionaire faces pressure to sell South African fresh food unit
South Africa’s Competition Commission has recommended ARC divest from one of the country’s largest fresh produce agencies.
Patrice Motsepe's wealth drops $200 million in December, despite Tyme's $1.5 billion valuation
The decline in Patrice Motsepe's wealth has been spurred by the recent drop in the market value of his mining investments.
Patrice Motsepe’s Tyme Group, valued at $1.5 billion after $250 million raise
Tyme Group has raised $250 million in its latest funding round, boosting its valuation to $1.5 billion and positioning it among Africa’s few unicorns.
Lesaka acquires Recharger, prepaid electricity firm, in $28-million deal
The deal, which strengthens Lesaka’s position in the fintech sector, involves the purchase of all Recharger's shares.
Sanlam completes $66.4 million acquisition of MultiChoice insurance unit
The move, positions Sanlam to leverage MultiChoice’s broad subscriber base and payment systems to expand its financial services offerings across Africa.
Sanlam’s net inflows surge to $2.2 billion despite two-pot retirement withdrawals
Resilient performance showcases double-digit growth across key metrics and strong global expansion.
Motsepe sees $100-million wealth boost amid $195-million lawsuit in Tanzania
This marks a $300 million increase in Motsepe's fortune so far in 2024, up from $200 million at the start of November.
Patrice Motsepe faces $195-million lawsuit in Tanzania over alleged breach of contract
South African billionaire Patrice Motsepe faces a $195-million lawsuit in Tanzania over allegations of breaching a non-compete agreement, a case that could set a legal precedent for the country's mining sector.
Harmony Gold records $3.47 billion in revenue at close of fiscal year 2024
The Johannesburg-based miner attributed this growth to increased gold sales and a favorable pricing environment.
Sanlam completes Assupol deal, boosts lead as Africa's largest insurer
Sanlam's acquisition of Assupol bolsters its footprint in South Africa and Africa, cementing its position as a dominant insurance player.