Modern African family’s cultures and wealth
A family business at its most basic format is an interaction of the business system and the family system.
Southern Africa
Zimbabwean businessman Zinona Koudounaris gains over $245 million from stake in Axia Corp
The multimillion-dollar spike cements his position as one of the largest investors on the local bourse.
South African mogul Neal Froneman’s Sibanye-Stillwater approves new fund to drive R&D
Froneman owns a 0.074-percent stake in the company worth more than $10 million.
Johann Rupert-linked Grindrod is looking for buyers for its banking subsidiary
Grindrod is a global freight logistics and shipping services company.
South African billionaire Patrice Motsepe loses over $320 million in less than one month
Motsepe, the South African billionaire and current President of the Confederation of African Football (CAF) founded the mining firm in 1997.
Zimbabwean multimillionaire John Moxon’s son joins Meikles as an executive director
Meikles is a well-diversified conglomerate with holdings in hotels, retail, supermarkets, agriculture and financial services.
South African tech billionaire Mark Shuttleworth plans to list Canonical in 2023
Shuttleworth plans to list Ubuntu software maker Canonical in 2023.
British bank Barclays sells $687-million stake in Arrie Rautenbach-led Absa Group
Absa Group shares have fallen by more than four percent since the opening of the Johannesburg Stock Exchange this morning.
Union54, Zambian startup led by Perseus Mlambo and Alessandra Martini, raises $12 million in seed funding
The round comes nearly six months after the company announced a $3-million seed round led by Tiger Global.
South African billionaire Patrice Motsepe donates $2 million to flood victims
Motsepe, a billionaire businessman, offered his assistance after witnessing the devastation caused by recent floods.
Botswana tycoon Ramachandran Ottapathu loses $4.1 million from stake in Choppies Enterprises
The $4.12-million decrease in his stake pushed the value of his holding well below the $20-million mark in recent times.
Strive Masiyiwa, Zimbabwe’s richest man, gains $510-million from stake in Econet Zimbabwe
The billionaire owns a majority 52.85-percent stake in Econet, Zimbabwe’s largest telecom services provider.
Led by South African businessman Fleetwood Grobler, Sasol dumps South African pipeline project
Under the leadership of Grobler, the South African energy and chemical group operates in 33 countries and employs 30,100 people globally.
South African billionaire Michiel Le Roux eyes $22 million in Capitec Bank dividends in May
The 73-year-old businessman who founded Capitec Bank owns a sizeable 11.41 percent stake in the bank.
Mr. Price to acquire Laurence Wernars’ Studio 88 Group for $225 million
Studio 88 group is the biggest independent retailer of branded leisure, lifestyle, and sporting apparel and footwear in South Africa.
South African billionaire Michiel Le Roux’s Capitec Bank posts earnings of over $570 million in 2022
Capitec Bank was founded 20 years ago by Le Roux and leading businessmen Jannie Mouton and Riaan Stassen.