July Ndlovu-led Thungela posts record profit of $585 million as coal price soars
Thungela is a market leader in the production and export of high-quality, low-cost thermal coal.
Southern Africa
Types of family businesses: James Bond?
In the James Bond family business type, the sole family member in the business is the founder.
Led by South African exec Mike Teke, Seriti Resources acquires majority stake in Windlab Africa
Teke is the founder of Masimong Group and one of Seriti Resources Holdings’ four shareholders.
Led by South African mogul Neal Froneman, Sibanye-Stillwater slashes output target for U.S. mines
The news comes nearly two months after it suspended operations in Montana for seven weeks.
Led by South African Mouton family, PSG embarks on strategic restructuring
The South African Mouton family owns 24.5 percent of the company.
South African billionaire Johann Rupert-linked SEACOM partners with BT Group
Seacom is privately funded and 75 percent African-owned.
South African tech tycoon Zak Calisto gains $166 million in four weeks
Calisto is one of Africa’s richest tech entrepreneurs.
South African billionaire Patrice Motsepe’s net worth slumps by $400 million as rand tumbles
Despite his declining net worth, Motsepe remains one of South Africa’s richest men.
Namibian tycoon Quinton van Rooyen’s Trustco wins round in court against JSE
Shares in the group rose 35.56 percent as a result.
South African tycoon Jens Montanana’s Datatec acquires UK-based firm after closing $252-million deal
Datatec is a South African ICT services provider.
Zimbabwean exec Andrew Chimphondah-led Shelter Afrique recovers $5.7 million in troubled projects
Chimphondah is known for his successful business turnarounds.
South African billionaire Nicky Oppenheimer loses $780 million in past 54 days
Oppenheimer remains one of Africa’s richest billionaires and South Africa’s second wealthiest person.
Johann Rupert’s Remgro, MSC reach agreement on Mediclinic acquisition terms
Rupert’s investment firm, Remgro, owns 44.6 percent of Mediclinic, South Africa’s largest hospital operator.
South African exec Arrie Rautenbach-led Absa Group expects earnings to rise by 27 percent in H1 2022
Rautenbach owns a 0.023-percent stake in the banking group, worth $1.94 million.
Billionaire Patrice Motsepe-linked Tyme Bank moves to acquire South African fintech lender, Retail Capital
TymeBank is owned in part by African Rainbow Capital Financial Services Holding, a Black-owned and -controlled company.
Family is the elephant in the room
The biggest challenges for family businesses in Africa have to do with the family system and not with the business system.