Walmart to buy remaining stake in South African mogul Mark Lamberti’s Massmart for $377 million
If shareholders agree, the retailer will be delisted from the Johannesburg Stock Exchange.
Southern Africa
South African billionaire Nicky Oppenheimer-linked Tana Africa invests in Sundry Markets
Sundry Markets was founded nearly seven years ago by Nigerian businessman Ebele Enunwa.
South African tech tycoon Jens Montanana loses over $9 million in 10 days from stake in Datatec
Montanana founded Datatec more than 35 years ago.
South African billionaire Johann Rupert’s Richemont to sell stake in loss-making YNAP to Fartech, Emirati tycoon
Richemont will examine the fair value write down pertaining to its investment in YNAP at $2.7 billion.
Zimbabwean billionaire Strive Masiyiwa’s net worth slumps by $3.1 billion in nearly four months
Masiyiwa’s fortune is made up of his 52.85-percent stake in Econet Zimbabwe and 30-percent stake in EcoCash Holding.
South African-born billionaire Patrick Soon-Shiong rents out part of vaccine plant as demand declines
Earlier this year, ImmunityBio opened a plant in South Africa under the name Nant SA.
South African mogul Adrian Gore’s Discovery partners with BlackRock to launch new asset management entity
Gore revealed that the move is a strategic attempt to deliver value.
Types of family businesses: Eternus?
The Eternus family business, like the James Bond type, is led by an authoritarian family leader.
South African exec Mike Teke’s Seriti Resources to invest $730 million in wind farm
The investment is a watershed moment for Seriti.
South African-born billionaire Patrick Soon-Shiong’s net worth sheds $290 million in six days
His biotech company’s share price has dropped by more than 15 percent in the past six days.
Led by South African mogul Koos Bekker, Prosus N.V. acquires stake in Brazilian food delivery platform
Prosus N.V. was founded in 1997.
South African executive Nombasa Tsengwa says investment in green minerals ‘urgent’
Tsengwa became the group CEO of Exxaro Resources in March 2021.
South Africa approves acquisition of Bokoni Mine by billionaire Patrice Motsepe’s ARM
The mining company announced that the multimillion-dollar transaction will go into effect on Sept. 1.
Zimbabwean billionaire Strive Masiyiwa’s Liquid acquires Israeli tech firm, Telrad
Liquid’s cloud solutions have expanded rapidly under Masiyiwa’s leadership.
South Africa’s richest man Johann Rupert suffers $290-million wealth loss
The multimillion-dollar drop in his net worth can be attributed to the performance of his 9.14-percent stake in Richemont.
South African billionaire Michiel Le Roux’s stake in Capitec Bank surges above $1.7 billion
The billionaire has recorded an impressive $149-million surge in the value of his stake in the past 16 days.