South African billionaire Nicky Oppenheimer’s net worth surpasses $8.8 billion
Oppenheimer’s net worth has increased by 10.7 percent since the start of the year.
Southern Africa
Namibian mogul Koos Brandt records $19-million boost to his net worth from stake in Capricorn Group
Brandt is the holding’s largest individual shareholder.
Zimbabwean restaurant mogul Zed Koudounaris eyes Kenyan expansion for Simbisa brands
His 18.41-percent stake in the company is worth $60.4 million.
Angolan tycoon Carlos Manuel de Sao Vicente sentenced to nine years over graft
He has been sentenced to nine years in jail by a local court for embezzlement.
Qatari-backed fund acquires luxury Cape Town hotel from John Moxon’s Meikles
Meikles Limited, a conglomerate controlled by Moxon, has sold off The Cape Grace at the V&A Waterfront.
Richemont, controlled by billionaire Johann Rupert, sells off 20-percent stake in Greubel Forsey
Greubel Forsey, which was founded in 2004, manufactures very complicated timepieces.
South African businessman Mfundo Nkuhlu receives salary of $1.9 million from Nedbank in 2021
Nkuhlu owns a beneficial 0.043-percent stake in Nedbank, valued at $3.29 million.
Botswana-based businessman Jonathan Gibson’s stake in Chobe Holdings now worth $20.4 million
Gibson holds a substantial 35.6-percent interest in the group.
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.
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.