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.
Southern Africa
South African billionaire Patrice Motsepe donates $2 million to flood victims
Motsepe, a billionaire businessman, offered his assistance after witnessing the devastation caused by recent floods.
Botswana tycoon Ramachandran Ottapathu loses $4.1 million from stake in Choppies Enterprises
The $4.12-million decrease in his stake pushed the value of his holding well below the $20-million mark in recent times.
Strive Masiyiwa, Zimbabwe’s richest man, gains $510-million from stake in Econet Zimbabwe
The billionaire owns a majority 52.85-percent stake in Econet, Zimbabwe’s largest telecom services provider.
Led by South African businessman Fleetwood Grobler, Sasol dumps South African pipeline project
Under the leadership of Grobler, the South African energy and chemical group operates in 33 countries and employs 30,100 people globally.
South African billionaire Michiel Le Roux eyes $22 million in Capitec Bank dividends in May
The 73-year-old businessman who founded Capitec Bank owns a sizeable 11.41 percent stake in the bank.
Mr. Price to acquire Laurence Wernars’ Studio 88 Group for $225 million
Studio 88 group is the biggest independent retailer of branded leisure, lifestyle, and sporting apparel and footwear in South Africa.
South African billionaire Michiel Le Roux’s Capitec Bank posts earnings of over $570 million in 2022
Capitec Bank was founded 20 years ago by Le Roux and leading businessmen Jannie Mouton and Riaan Stassen.
Rise of the millennials next-gen leaders stepping up
Founders and incumbent leaders have the responsibility of legacy building.
South African businessman Andre Du Plessis gains $16 million in 100 days from Capitec Bank
Du Plessis owns a beneficial 0.008-percent stake in the company, totaling 917,976 shares.
South African Ackerman family makes $105 million in five weeks from stake in Pick n Pay
Members of the Ackerman family own a significant 25.53-percent stake in the leading retailer, or 124,677,238 ordinary shares.
Absa’s first Black CEO Daniel Mminele receives $2.1 million in termination payment from Absa Group
The South African executive became CEO of Absa Group in January 2020.
Zimbabwean billionaire Strive Masiyiwa’s daughter joins Econet Wireless Zimbabwe as director
Elizabeth Tanya Masiyiwa, an entrepreneur and philanthropist, is one of Zimbabwean billionaire Strive Masiyiwa’s six children.
Led by South African Ackerman family, Pick n Pay reports $6.67 billion in revenue
The single-digit sales growth was driven by an increase in liquor and clothing sales during the period under review.
South African businessman Alan Pullinger gains $5.4 million from stake in FirstRand
The $5.46-million surge can be linked to the year-to-date surge in the share price of FirstRand Limited on the Johannesburg Stock Exchange.
Dubai Future Foundation collaborates with Johann Rupert’s Richemont to create new luxury retail solutions
The deal will give global entrepreneurs and startups the opportunity to showcase their ideas and deploy innovative solutions.