South African pharma billionaire Stephen Saad’s Aspen closes $1.26-billion credit facility
Aspen Pharmacare Holdings Limited is a South African multinational pharmaceutical holding company.
Southern Africa
Fourteen of Africa’s 18 billionaires too poor to make Forbes 400 list
It now takes $6 billion to make the Forbes 400 richest list.
South African tycoon Laurie Dippenaar gains $48 million in 27 days from stake in FirstRand
Dippenaar holds a 1.76-percent stake in FirstRand.
Botswana tycoon Ramachandran Ottapathu’s Choppies posts $11 million in profit as earnings soar
Choppies Enterprises was established in 1986 by Ottapathu and Farouk Ismail.
South African retail tycoon Ackerman family gains $20 million in 15 days from Pick ‘n Pay
Pick ‘n Pay operates more than 2,000 stores across eight African countries.
South African mogul Neal Froneman’s Sibanye-Stillwater may cut 2,000 jobs
Sibanye-Stillwater is a multinational precious metal mining group.
South African billionaire Nicky Oppenheimer gains $100 million in October
Oppenheimer’s $7.93-billion net worth is derived from a mix of private equity investments.
Angolan gov’t takes ownership of Unitel S.A. from billionaire businesswoman Isabel dos Santos
Dos Santos was once considered Africa’s wealthiest woman.
South African billionaire Johann Rupert gains $220 million in October, as Richemont shares rebound
Rupert is South Africa’s richest businessman.
South African tycoon Stephen Brookes’ Balwin Properties posts $9 million in mid-year profit
Brookes owns a 36.08-percent stake in Balwin Properties.
South African tech tycoon Zak Calisto gains nearly $150 million as Karooooo surges on Nasdaq
Calisto is one of Africa’s richest tech entrepreneurs.
Swazi billionaire Natie Kirsh’s net worth soars by $300 million in October
Kirsh is one of Africa’s wealthiest businessmen.
Exit strategies for family businesses
Exit strategies include acquisition, merger, IPO, cash cow, selling to a friend, or shutting down operations.
Lesotho tycoon Sam Matekane sworn in as prime minister
Matekane is the founder of Matekane Group.
South African mogul Mark Lamberti’s Massmart to close Game stores in Nigeria on Christmas day
Massmart is the continent’s second-largest consumer product retailer.
South African billionaire Koos Bekker loses $345.5 million in 110 days from stake in Prosus
Naspers is a top cable TV operator and e-commerce investor.