FirstRand stake of South African tycoon Laurie Dippenaar nears $400 million
Laurie Dippenaar currently holds a 1.76-percent stake in FirstRand, amounting to 98,726,988 shares, making him one of South Africa’s leading investors.
South Africa
Johann Rupert loses $300 million as Richemont shares slide
The recent $300 million decline in Johann Rupert’s wealth is tied to the performance of his 10.18 percent stake in Richemont.
Sim Tshabalala-led Standard Bank to fund $5-billion East Africa pipeline project
As global scrutiny intensifies over fossil fuel projects, Standard Bank’s decision to support EACOP is set to influence the trajectory of similar ventures across the continent.
South African tech entrepreneur Zak Calisto eyes billion-dollar fortune
Year-to-date, Karooooo shares are up 48.27%, offering substantial returns to shareholders, exemplifying robust market performance.
South African tycoon Adrian Gore makes $32 million from Discovery stake
This uptick follows a period of steady gains for Gore, with his Discovery stake growing by $22 million between May 15 and 29.
Digital bank backed by Africa’s first Black billionaire Patrice Motsepe eyes $1-billion valuation
TymeBank, controlled by Motsepe, expects to complete a $150-million funding round by the fourth quarter.
Capitec Bank share decline costs South African billionaire Michiel Le Roux $31 million
This follows a $112.3 million loss between May 20 and June 3.
South African real estate tycoon Stephen Brookes faces major market losses
This loss compounds the $2 million loss recorded between March 20 and April 3, when his stake dipped from $17.34 million to $15.33 million.
South African tycoon Laurie Dippenaar loses $32 million in FirstRand stake in 17 days
This decline is primarily attributed to local investors reducing their holdings in the renowned Johannesburg-based financial services provider.
Absa led by South Africa executive Arrie Rautenbach seals deal with French giant Renault
The collaboration introduces Renault Financial Services, a new financing and services platform designed for Renault customers.
Digital bank backed by Africa’s first Black billionaire hits 12.4 million customers in South Africa, Philippines
This achievement comes less than a decade after its inception and is bolstered by a significant $110 million secured in its Series C capital raise finalized in January 2024.
South Africa’s Ackerman family makes $21 million from Pick ‘n Pay stake
The Ackerman family holds a 25.53-percent stake in Pick n Pay, equivalent to 124,677,238 shares.
South African tycoon Tshepo Mahloele’s Capitec stake declines by $31 million in 48 hours
This follows a $24.84 million loss between May 10 and 28, when his stake declined from R19.3 billion ($1.05 billion) to R18.84 billion ($1.03 billion).
Africa’s first Black billionaire Patrice Motsepe’s ARM completes $3 million share purchase in Canadian firm
The acquisition marks a significant milestone for ARM, underlining its strategic move into high-growth potential mining ventures.
South African billionaire Christo Wiese’s Brait unveils multimillion-dollar recapitalization plan
The recent move detailed a comprehensive recapitalization initiative designed to reduce the group’s net debt by $123 million, from $323 million to $200 million.
French billionaire’s firm makes mandatory bid for DSTV parent, MultiChoice in $2.9-billion deal
The tender offer will conclude on April 25, 2025, with regulatory results expected on April 29, 2025, as outlined in a combined circular released earlier this week.