Patrice Motsepe-linked MetroFibre secures $298 million in debt funding from Standard Bank Group
MetroFibre is partly owned by African Rainbow Capital, an investment unit founded by Motsepe.
Southern Africa
Swazi billionaire Natie Kirsh’s net worth increases by $430 million in 35 days
The bump in his net worth is due to an increase in the valuation of his stake in Jetro Holdings.
Opportunists or strategists? What will bring more African family businesses to the forefront?
The continent’s future is influenced by those who hold the wealth and resources — and their motives.
Led by South African Ackerman family, Pick ‘n Pay reports double-digit increase in retail sales across Africa
The Cape Town-based retail behemoth operates more than 2,000 stores across eight African countries.
South African exec Mark Blair pockets $3.37 million in remuneration in 2022
The compensation is more than three times the $1.12 million that he received in the 2020-2021 fiscal year.
South African mogul Zak Calisto loses $360 million from Karooooo stake in 2022
Despite the recent drop in his wealth, Calisto remains one of South Africa’s wealthiest businessmen.
Bluebell Capital wants South African billionaire Johann Rupert’s Richemont to focus on jewelry, watches
This statement comes nearly a week after Richemont reported a double-digit increase in sales in Q1 2023.
Portuguese gov’t accuses Angolan businessman Alvaro Sobrinho of embezzling hundreds of millions of dollars
The businessman was charged with aggravated fraud and the lodging of about $6.12 billion.
Angolan billionaire Isabel dos Santos demands pardon after death of father
The dos Santos family also demanded an apology for the treatment of the former leader.
South African mogul Johann Rupert’s net worth soars by $240 million in four days
The increase in Rupert’s net worth follows a surge in Richemont shares from $10 on July 15 to $11 today.
Namibian tycoon Quinton van Rooyen loses $47 million as Trustco shares slump to all-time low
Van Rooyen owns 63.94 percent of the leading Namibian company.
Zimbabwe’s richest man Strive Masiyiwa plans to raise $500 million to expand digital infrastructure business
C5 Capital, a specialist venture capital firm, will provide the financing.
Zimbabwean billionaire Strive Masiyiwa loses $2.9 billion, reducing net worth to $1.5 billion
Zimbabwe’s richest man and one of Africa’s wealthiest men, Masiyiwa has seen his net worth fall to $1.5 billion.
Meet Noluthando Gosa, South African businesswoman who owns $21-million stake in ArcelorMittal
Gosa leads Likamva Resources and Akhona Group.
South African billionaire Johann Rupert’s luxury company records over $5.2 billion in revenue in Q1 2023
Despite the strong performance, Richemont shares have fallen 5.7 percent since this morning.
Led by South African businesswoman Portia Derby, Transnet signs $1.5-billion credit facility to fuel growth
The credit facility will be used to finance the company’s capital expansion program.