Zimbabwean businessman John Moxon’s Meikles delays unbundling of tea business
Tanganda Tea Company is Zimbabwe’s largest distributor of bulk tea and packaged tea.
Southern Africa
Zimbabwe’s wealthy Rudland family moves to take over Tongaat Hulett sugar producer
An entity controlled by the Rudlands entered into an agreement with Tongaat Hulett, committing to partially underwrite a rights offer.
South African billionaire and Capitec Bank Founder Michiel Le Roux gains $359.61 million in 2021
Le Roux is the founder of Capitec Bank, one of South Africa’s largest retail banks.
Ralph Mupita-led MTN Group agrees to sell South Africa towers to Sam Darwish’s IHS for $411.8 million
IHS Towers is a Nigeria-based telecom infrastructure firm founded by U.S. telecom tycoon Sam Darwish.
Namibian businessman Sven Thieme-led O&L Group sells majority stake in NBLIH to Heineken
NBLIH holds a 59.4-percent controlling stake in Namibia Breweries Limited.
Pieter Engelbrecht-led Shoprite Holdings reports 9.3-percent rise in sales in Q1 2022
Earlier, the group’s core business, Supermarkets RSA, reported an 11.6-percent increase in sales in Q1 2021.
Amid operating difficulties, Shameel Joosub-led Vodacom Group reports decline in profit in H1 2021
Vodacom Group is a South African telecom company, providing voice, messaging, data and converged services.
Heineken moves to acquire Johann Rupert-linked spirit maker, Distell Group, in deal worth $2.52 billion
In addition to acquiring Distell, Heineken will acquire Namibia Breweries and Ohlthaver & List.
Sanctioned tycoon Kudakwashe Tagwirei joins deal to create financial behemoth in Zimbabwe
The post-merger entity to be created through the acquisition will rival Old Mutual Zimbabwe.
South African billionaire Johann Rupert’s Richemont advances discussions to offload stake in loss-making YNAP
The development puts to bed rumors of a potential $100-million capital raise to bolster the YNAP’s operations.
Namibia’s Tromp family gains nearly $1 million from stake in Nictus Holdings
Nictus is a diversified investment holding operating the General Motors franchise in Namibia.
Ackerman family to pocket more than $2.9 million in dividends from South Africa’s Pick n Pay
Pick n Pay is South Africa’s second-largest retailer, with more than 2,000 stores in eight African countries.
Vodacom Group acquires stake in South African billionaire Johann Rupert-linked investment holding
CIVH is a holding majority-owned by South African billionaire Johann Rupert’s Remgro Limited.
Albertinah Kekana-led Royal Bafokeng Holdings accepts offer to sell 33.3-percent stake in RBPlat worth $1.14 billion
RBH is an African community investment holding that operates under the Royal Bafokeng Nation Development Trust.
South African businessman Piet Mouton gains over $75 million in 29 days from stake in Capitec Bank
The gain in Mouton’s stake can be linked to double-digit growth in the share price of the South African lender.
Strive Masiyiwa’s Liquid Intelligent Technologies partners with IFC to boost digital infrastructure in Africa
The partnership is expected to drive universal and affordable broadband access across the continent.