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 Africa
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.
Led by South Africa exec Roy Bagattini, Woolworths posts $107 million in half-year revenue
Despite the impressive revenue growth, Woolworths encountered supply chain disruptions that impacted sales during the 26-week period.
South African billionaire Michiel Le Roux loses $85 million from Capitec stake
Le Roux owns an 11.39-percent stake in Capitec Bank, making him one of the richest men on the continent.
‘Please Call Me’ inventor Nkosana Makate faces setback as Vodacom rejects $1.5-billion payment
Concerns were raised about the potential negative consequences on employees, shareholders, public finances, network investment, coverage, and social programs.
South African tycoon Fleetwood Grobler-led Sasol posts $7.1-billion half-year revenue
The macroeconomic environment, characterized by weaker oil and petrochemical prices, unstable product demand, and continued inflationary pressure, impacted Sasol’s performance.
Billionaire Patrice Motsepe donates $1.55 million to alleviate student debt in South Africa
Motsepe, who achieved the status of Africa’s first Black billionaire in 2008 through success in the mining industry, has consistently been a dedicated philanthropist.
Patrice Motsepe’s stake in ARM declines by $137 million
Motsepe, Africa’s first Black billionaire and a prominent South African tycoon, holds a 45.9-percent stake in ARM, or 89,905,401 shares.
South African tycoon Vivian Reddy reveals $1.55-million annual spend on diesel
Reddy, renowned for his transformative Oceans Mall Umhlanga venture, estimated an annual expenditure of nearly $1.55 million solely on diesel to counter the disruptions caused by power outages.
South African billionaire Christo Wiese loses $30 million from Shoprite stake
Wiese holds a 10.67-percent stake in Shoprite, equivalent to 63,110,920 shares valued at over $850 million.