Botswana tycoon Gulaam Abdoola’s Turnstar Holdings reports $8.3 million in profits in 2022
Abdoola is the company’s largest individual owner, with a 14-percent stake.
Southern Africa
Led by South African Saltzman family, Dis-Chem Pharmacies expects earnings to surge by 24.5 percent
The Saltzman family owns a beneficial 45.2-percent share in the healthcare company.
Here are the five billionaires who account for 3.8 percent of South Africa’s $683-billion private wealth
With a total private wealth of $651 billion, South Africa has more than twice as many billionaires as any other African country.
South African mogul Zak Calisto’s Karooooo to pay shareholders $17.7 million in dividends
Calisto owns a majority 75-percent stake in the Singapore-based tech firm, which he founded in 2001.
Sibanye’s CEO Neal Froneman pocketed $19 million in remuneration in 2021
Froneman received a whopping $18.9 million in 2021.
Zimbabwean billionaire Strive Masiyiwa gains $1.7 billion so far this year
The billionaire has surpassed South African mining tycoon Patrice Motsepe as the richest Black man in Southern Africa.
Court orders convicted Malawian tycoon Thom Mpinganjira to sell FDH bank shares
Mpinganjira was sentenced to nine years in jail last year for attempting to bribe judges overseeing the 2019 presidential election.
Modern African family’s cultures and wealth
A family business at its most basic format is an interaction of the business system and the family system.
Zimbabwean businessman Zinona Koudounaris gains over $245 million from stake in Axia Corp
The multimillion-dollar spike cements his position as one of the largest investors on the local bourse.
South African mogul Neal Froneman’s Sibanye-Stillwater approves new fund to drive R&D
Froneman owns a 0.074-percent stake in the company worth more than $10 million.
Johann Rupert-linked Grindrod is looking for buyers for its banking subsidiary
Grindrod is a global freight logistics and shipping services company.
South African billionaire Patrice Motsepe loses over $320 million in less than one month
Motsepe, the South African billionaire and current President of the Confederation of African Football (CAF) founded the mining firm in 1997.
Zimbabwean multimillionaire John Moxon’s son joins Meikles as an executive director
Meikles is a well-diversified conglomerate with holdings in hotels, retail, supermarkets, agriculture and financial services.
South African tech billionaire Mark Shuttleworth plans to list Canonical in 2023
Shuttleworth plans to list Ubuntu software maker Canonical in 2023.
British bank Barclays sells $687-million stake in Arrie Rautenbach-led Absa Group
Absa Group shares have fallen by more than four percent since the opening of the Johannesburg Stock Exchange this morning.
Union54, Zambian startup led by Perseus Mlambo and Alessandra Martini, raises $12 million in seed funding
The round comes nearly six months after the company announced a $3-million seed round led by Tiger Global.