July Ndlovu-led Thungela recovers from deficits; earnings exceed $440 million in 2021
Thungela is a leading pure-play producer and exporter of high-quality, low-cost thermal coal.
Southern Africa
Angolan businessman Alvaro Sobrinho has 10 days to pay deposit of $6.64 million
Aside from the $6.64-million bond, Sobrinho was subjected to a number of coercive measures.
Family business resilience leads to generational wealth
One of the strengths of family businesses is their ability to create roots similar to trees that embed them in the space they are in.
Dubai-based businessman Sultan Ahmed bin Sulayem’s DP World acquires South African logistics firm
The buyout will see South African businessman Mohammed Akoojee earn at least $1.5 million.
Angolan businessman Alvaro Sobrinho under investigation for allegedly embezzling $387 million
In 2015, Sobrinho was linked to a $5.7-billion fraudulent loan scheme.
South African billionaire Patrice Motsepe’s net worth rises by $300 million in 11 weeks
The billionaire is one of the richest men in Africa.
Tsitsi Masiyiwa, Melinda French Gates, others join forces with Co-Impact to launch $1-billion gender fund
Co-Impact will allocate at least 10 percent of the funds raised to feminist and women’s rights organizations and movements.
Johann Rupert’s net worth falls below $10 billion as Richemont shares tumble
The billionaire has lost more than $286 million in a single day.
Jason Quinn-led Absa Group resumes dividend payment as earnings exceed $1.1 billion
The issued dividend reflects the group’s strong financial performance at the conclusion of its 2021 fiscal year.
South African businessman Mxolisi Mgojo sees stake in Exxaro surge above $5.7 million
Mgojo owns a beneficial 0.17-percent ownership in the leading diversified resources firm.
South African executive Christine Ramon owns stake worth $3 million in AngloGold Ashanti
Ramon now has a beneficial 0.026-percent stake in the miner, which equates to 118,471 ordinary shares.
Swazi billionaire Natie Kirsh loses $310 million in three days
Kirsh ranks as the 278th richest man in the world and the richest person in Eswatini (formerly Swaziland).
South African businessman Xolane Ndhlovu donates $1 million to Africans in Ukraine
Ndlovu said he is motivated to help Africans who have lost their livelihood due to the Russia-Ukraine conflict.
Gates Foundation makes first grant following appointment of Zimbabwe’s richest man Strive Masiyiwa
The funds will go to Butterfly Network, a digital health startup that aims to democratize medical imaging.
South African billionaire Stephen Saad’s Aspen concludes COVID-19 vaccine deal
The vaccine will be marketed as Aspenovax.
Ralph Mupita-led MTN Group reports double-digit percent decline in profits
Earnings were hurt by an impairment loss of $29.8 million.