South Africa’s richest man Johann Rupert gains $1 billion in July as investors react to Richemont’s Q1 results
The majority of Rupert’s fortune stems from his stake in Richemont.
Southern Africa
South African founder Luyolo Sijake’s point-of-sale tech startup Qwili raises $1.2 million
Sijake, Thandwefika Radebe, and Tapfuma Masunzambwa co-founded Qwili in 2020.
Botswana tycoon Gulaam Abdoola loses over $1 million from Turnstar investment
Despite the million-dollar decline, the businessman still ranks as one of the wealthiest investors on the Botswana Stock Exchange.
Nassef Sawiris gains $7 million in July, recoups only fraction of June $600-million loss
Sawiris sits on the boards of Adidas and OCI N.V.
Led by South African Saltzman family, Dis-Chem Pharmacies opens third outlet in Botswana
Dis-Chem Pharmacies is a high-performing pharmacy and healthcare group in South Africa.
South African mogul Zak Calisto’s Karooooo posts nearly $9.5 million in profit in Q1 2023
Calisto owns a majority stake in the global provider of smart transportation management and analytics.
Botswana-based mogul Jonathan Gibson’s Chobe suffers over $3.3 million in losses in 2021
Gibson owns 35.6 percent of the company.
Patrice Motsepe-linked MetroFibre secures $298 million in debt funding from Standard Bank Group
MetroFibre is partly owned by African Rainbow Capital, an investment unit founded by Motsepe.
Swazi billionaire Natie Kirsh’s net worth increases by $430 million in 35 days
The bump in his net worth is due to an increase in the valuation of his stake in Jetro Holdings.
Opportunists or strategists? What will bring more African family businesses to the forefront?
The continent’s future is influenced by those who hold the wealth and resources — and their motives.
Led by South African Ackerman family, Pick ‘n Pay reports double-digit increase in retail sales across Africa
The Cape Town-based retail behemoth operates more than 2,000 stores across eight African countries.
South African exec Mark Blair pockets $3.37 million in remuneration in 2022
The compensation is more than three times the $1.12 million that he received in the 2020-2021 fiscal year.
South African mogul Zak Calisto loses $360 million from Karooooo stake in 2022
Despite the recent drop in his wealth, Calisto remains one of South Africa’s wealthiest businessmen.
Bluebell Capital wants South African billionaire Johann Rupert’s Richemont to focus on jewelry, watches
This statement comes nearly a week after Richemont reported a double-digit increase in sales in Q1 2023.
Portuguese gov’t accuses Angolan businessman Alvaro Sobrinho of embezzling hundreds of millions of dollars
The businessman was charged with aggravated fraud and the lodging of about $6.12 billion.
Angolan billionaire Isabel dos Santos demands pardon after death of father
The dos Santos family also demanded an apology for the treatment of the former leader.