Founded by Joaquim David, Angolan oil explorer Somoil plans to go public
Somoil is the largest privately-owned oil exploration company in Angola.
Southern Africa
South African businessman Zak Calisto to receive $11.68-million in dividends from Karooooo
Zak Calisto controls a 66-percent stake in Karooooo.
South African exec Nonkululeko Nyembezi becomes first Black woman to chair Standard Bank
Nyembezi is a seasoned South African corporate leader.
South African executive Andre Joubert sells $1.33 million in shares in leading miner, ARM
Joubert has been the CEO of ARM’s Ferrous Division since July 2012.
South African billionaire Patrice Motsepe-linked Sanlam finalizes UK divestment
The divestment is consistent with the group’s strategy to simplify its UK operations.
Tech and the future of African business
Growth in Africa’s tech sector has been stratospheric in recent times.
South African billionaire Nicky Oppenheimer to pocket $2.37 million in IDH dividends
His net worth has risen by more than $675 million since the year began.
South African billionaire Stephen Saad’s Aspen could cut COVID-19 vaccine capacity
Saad controls a 12.5-percent stake in the leading drug company.
Zimbabwean mogul Paddy Zhanda gains over $1.5 million from Masimba in 71 days
Masimba Holdings is a well-established Zimbabwean group.
South African businessman Justin Coetzee’s GoMetro raises $1 million in seed extension round
GoMetro was founded in 2012 as South Africa’s first real-time public transportation information system.
South African mogul Jens Montanana’s Datatec acquires Northern Sky Research
Montanana’s 11.98-percent stake in Datatec is valued at $63 million.
Patrice Motsepe-linked Sanlam signs JV deal with Allianz to form largest pan-African insurer
The new entity is expected to have a combined total group equity value in excess of $2.1 billion.
Ivan Saltzman’s Dis-Chem to receive $1.48 million from SASRIA over civil unrest
The payment will be made as part of the healthcare firm’s insurance coverage in South Africa.
Sibanye defends Neal Froneman, says $18.9-million salary is tied to reward
Froneman received $18.9 million in compensation in 2021.
Extremophiles dominate the African business landscape
In most countries around the world, family businesses are between 70 and 95 percent of all business entities.
South African billionaire Johann Rupert loses $890 million in April
In April alone, his net worth fell from $10.9 billion to $10.01 billion.