South African exec Neal Froneman views Sibanye-Stillwater’s rights offer as a last resort
Speaking at the group’s annual results presentation, Froneman stressed that such an offer would be a last resort measure.
South Africa
South African billionaire Patrice Motsepe-backed Sanlam posts $73-million profit in 2023
Sanlam CEO Paul Hanratty, a notable figure in South Africa’s business landscape, lauded the company’s robust delivery in the face of extraordinary challenges during the past fiscal year.
South African exec Shameel Joosub-led Vodacom launches digital skills initiative to combat youth unemployment
The initiative aims to provide free access to digital training courses through the newly unveiled Mzansi Digital Learning platform.
Led by South African Ackerman family, Pick ‘n Pay set to liquidate Baladakis Stores
As the legal battle unfolds, the retail industry watches closely to see the implications and outcomes of Pick ‘n Pay’s unprecedented move to liquidate a major franchisee in its extensive network.
South African billionaire Saltzman Family gains $41 million from Dis-Chem shares
Thanks to the recent upswing in Dis-Chem’s shares, the Saltzman family’s stake in Dis-Chem has surged by R776.36 million ($41.42 million) since Feb. 19.
South African tycoon Neal Froneman-led Sibanye posts $2-billion loss
The poor financial performance comes on the heels of Sibanye’s aggressive acquisition strategy.
South African executive Simon Crutchley guides AVI to $65 million half-year earnings
Simon Crutchley, who has served as CEO of AVI Limited since 2005, has played a pivotal role in steering the company towards sustained growth and success.
South African-born billionaire Patrick Soon-Shiong gains $800 million in 29 days
The recent surge in Soon-Shiong’s fortune is largely fueled by the notable increase in the market value of his 76-percent stake in ImmunityBio.
South African executive Pieter Engelbrecht leads Shoprite to $6.3 billion in half-year sales
Since taking the helm in January 2017, Engelbrecht has continued to enhance the legacy established by his predecessor, Whitey Basson.
South African tycoon Stephen Saad’s investment in Aspen surpasses $620 million
According to data compiled by Billionaires.Africa, the market value of Saad’s stake in Aspen has increased by $52.4 million to $623.6 million.
South Africa’s Ackerman family loses nearly $50 million as Pick ‘n Pay shares plunge 26%
The recent decline in Pick ‘n Pay shares has led to a reduction in the market value of the Ackerman family’s stake by R906.4 million ($47.43 million) over the last 15 days
South African tycoon Des de Beer’s REIT completes $185-million acquisition of Spanish retail complex
Resilient REIT, led by South African tycoon, seals $185.3-million acquisition of Salera Centro Comercial in Spain.
South African billionaire Christo Wiese positive on Nigeria, predicts investors’ return
Wiese emphasized that the current withdrawal of foreign investors, including those from South Africa, is a temporary phenomenon.
Glencore-led by South African exec Gary Nagle eyes Shell’s assets in Singapore
In a strategic move to bolster its presence in the Asian market, Glencore is actively pursuing the acquisition of Shell’s assets situated on Pulau Bukom island.
South Africa’s second-richest man Nicky Oppenheimer gains $300 million in February
The surge in Oppenheimer’s wealth, which now totals $450 million year-to-date, can be attributed to a significant boost in the valuation of his diverse investments.
Kennedy Bungane-led African Bank’s newly acquired unit faces $255-million lawsuit
In response, Sasfin expresses disappointment, pledging cooperation with Sars and commitment to tax compliance.