South African billionaire Christo Wiese acquires new stake in Shoprite worth $25.8 million
The former chairman of the Johannesburg-based retailer purchased 20,000 single stock futures contracts.
Southern Africa
UK-based firm set to acquire stake in Johann Rupert-linked logistics company in $77.9-million deal
Rupert’s Grindrod Shipping is a global shipping company dual-listed on NASDAQ and the Johannesburg Stock Exchange.
South Africa’s five richest men and how they made their money
South Africa is home to the second-highest number of billionaires in Africa.
Anthony Masunga-led Botswana Telecommunications Corporation expects bump in half-year pre-tax profits
Through its operations, BTC offers fixed, mobile and broadband services to consumers, enterprises and other licensed service providers.
South African billionaire Johann Rupert gains $400 million in five days
Rupert is the richest man in South Africa with a fortune worth more than $12.1 billion.
Mauritian financial powerhouse AfrAsia Bank appoints Malachy McAllister as new CEO
McAllister is a veteran banker with an enviable track record of strategic leadership and cognate experience that spans more than three decades.
U.S. sanctions Angolan businesswoman Isabel dos Santos for involvement in corruption
U.S. Secretary of State Antony Blinken said the sanction was imposed for significant corruption.
Patrice Motsepe-linked Tyme Bank receives $70 million in investment from Tencent and CDC
TymeBank, one of the world’s fastest-growing digital banks, has acquired 4 million customers in 32 months.
Led by Gavin Hudson, Tongaat Hulett expects $13.8 million in losses in first half of 2021
Tongaat Hulett is a leading agri-business in sugar, ethanol, animal feed and cattle, with a significant footprint in Southern Africa.
Led by South African fashion tycoon Michael Lewis, TFG acquires Quench shopping platform
TFG is a South African retail clothing group, trading under various brands with more than 3,000 stores.
South African businessman Martin Moshal’s Entree Capital leads Anchor to raise $15 million in seed funding
Martin Moshal has been a serial entrepreneur in the software industry for more than 20 years.
South African technopreneur Philip Joubert’s OfferZen secures $5.1 million in funding
The funding will play a key role in the startup’s plans to deepen its operations in Europe.
Zimbabwean tycoon John Moxon’s Meikles posts $5.08 million in H1 profits, declares first interim dividend
The robust financial result can be linked to a strong performance by its supermarket and retail segment.
Namibian tycoon Quinton van Rooyen gains $23.8 million in one week as Trustco shares rebound
Trustco is a diversified investment holding majority owned and operated by the Namibian van Rooyen family.
South African tycoon Stephen Saad’s Aspen Pharmacare signs J&J deal to sell COVID-19 vaccine in Africa
Aspen Pharmacare is a South African holding founded by pharma tycoon and billionaire businessman Stephen Saad.
Led by Alan Pullinger, FirstRand expects earnings to rise by at least 30 percent in H2 2021
FirstRand Limited is Africa’s largest financial services group in terms of market capitalization.