One of Botswana’s richest businessmen, Ramachandran Ottapathu, loses $3.8 million in 2023
The decline in the market value of Ottapathu’s stake in Choppies reminds us of the risks associated with equity investments.
Southern Africa
Ken Sharpe’s WestProp underwhelms on first day of trading on VFEX
Despite the lackluster debut, Sharpe remains optimistic about the company’s future.
South African billionaire Koos Bekker’s net worth declines by $200 million in 96 days
Bekker has been an active businessman since 1985.
Zak Calisto’s Karooooo reaches milestone, garnering $32 million in profit
Under the leadership of Calisto, Karooooo remains one of Africa’s most profitable tech companies.
Ken Sharpe’s WestProp unveils training program after raising $3.3 million
Sharpe has established himself as a key figure in Zimbabwe’s real estate sector, thanks to his success as a dominant player in the market.
JPMorgan acquires additional stake in Christo Wiese-linked retailer, Shoprite
Wiese, a South African billionaire who played a key role in the growth of Shoprite, has an 11.63-percent stake in the group.
Piet Mouton’s stake in Capitec yields $10 million in dividends amid robust growth
Capitec Bank was founded more than 20 years ago by Michiel Le Roux, Riaan Stassen, and Piet Mouton’s father, Jannie Mouton.
Zimbabwean tycoon Paddy Zhanda’s wealth surges by $10 million in 2023
Zhanda owns an 8.08-percent beneficial stake in Masimba Holdings.
South African Ackerman family to receive $9.57 million in dividends from Pick ‘n Pay
The Ackerman family is one of the richest families in South Africa.
South Africa’s richest man Johann Rupert takes a hit, loses $229 million in 24 hours
Despite the decline in his net worth, Rupert remains not only the second-richest man in Africa but also the richest man in South Africa.
FMB Capital shares boost Hitesh Anadkat’s fortune by $44 million, making him one of Malawi’s richest
Anadkat’s wealth gains even further cement his position as one of Malawi’s top 10 richest businessmen.
Neal Froneman’s Sibanye-Stillwater charts path with management overhaul at New Century
This comes after the Froneman-led group announced emergency funding of up to $20.1 million for New Century.
Pick ‘n Pay, led by South African Ackerman family, registers $64 million in profit in 2023
The Ackerman family owns a sizable 25.53-percent stake in Pick ‘n Pay, or 124,677,238 issued shares.
Strive Masiyiwa rejoins exclusive club of billionaires with $2-billion net worth
Masiyiwa’s billion-dollar fortune is partly derived from his ownership of a 52.85-percent stake in Econet Zimbabwe.
U.S. court orders disgraced South African tycoon to pay $3.4 billion for forex fraud
The alleged victims include about 23,000 people from the United States — more than 1,300 of whom are from Texas.
South African-born billionaire Patrick Soon-Shiong’s net worth soars by $500 million
Soon-Shiong’s net worth is still down by $287 million since the start of the year.