Namibian tycoon Quinton van Rooyen’s Trustco files lawsuit against Bank of Namibia
Van Rooyen owns 63.94 percent of Trustco.
Southern Africa
Johann Rupert-led Remgro plans to unbundle 25-percent stake in Grindrod to shareholders
Grindrod is a freight logistics and shipping services company owned in part by Remgro.
South African exec Josua Malherbe loses $1.4 million from Remgro stake in 17 weeks
Malherbe owns a beneficial 0.21-percent stake in the investment holding.
HRH QUEEN ER II: Death and Succession
There is a well-known phrase that states that “nothing is certain but death and taxes.”
Botswana magnate Chandra Chauhan-led Sefalana reports marginal profit growth as revenue surges above $570 million
Chauhan owns a 5.53-percent equity stake in the company.
South African billionaire Patrice Motsepe’s net worth slumps by $500 million to $2.6 billion
Motsepe’s net worth has dropped by $500 million since the start of the year.
Johann Rupert-linked Remgro plans to sell stake in TotalEnergies South Africa
Remgro has also completed the sale of a 30-percent stake in South Africa’s largest wine and spirits producer, Distell Group.
South African banker Alan Pullinger’s stake in FirstRand declines by nearly $2.7 million in past 38 days
Pullinger owns 5,634,679 ordinary shares of the major financial services company.
South African billionaire Nicky Oppenheimer’s net worth slumps by $380 million so far in September
Oppenheimer still remains one of the continent’s wealthiest businessmen.
Namibian tycoon Koos Brandt’s Capricorn Group posts $64 million in profit in 2022
Capricorn Group is a financial services conglomerate based in Namibia, Botswana, and Zambia.
South African tech tycoon Zak Calisto’s stake in Karooooo slumps by $106 million
Calisto founded Karooooo, a global mobility software as a service (SaaS) platform, in 2001.
Elon Musk’s SpaceX in talks with officials to launch satellite Internet in Zambia
SpaceX founder Elon Musk said he is excited about the opportunity.
Africa’s second-richest man Johann Rupert loses $690 million in seven days
Despite his year-to-date wealth loss, Rupert remains not only one of Africa’s richest men, but also one of the world’s richest billionaires.
Led by South African banker Alan Pullinger, FirstRand posts nearly $2 billion in profit in 2022
Pullinger, FirstRand’s CEO, said the group’s performance reflects the quality of its operating businesses.
South African billionaire Christo Wiese gains $34 million in seven days
Bekker owns 11.63 percent of Shoprite.
Types of family businesses: Steward?
Succession in the Steward family business type comes with little conflict.