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.
Southern Africa
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.
Zimbabwean tycoon Strive Masiyiwa’s Africa Data Centers launches massive facility in Lagos
Africa Data Centers operates as an affiliate of Cassava Technologies, a fiber and telecom solutions group founded by Zimbabwe’s richest man.
South African billionaire Nicky Oppenheimer loses $280 million in single day
Oppenheimer has seen his net worth slump below the $8-billion mark in recent times.
Son of Angola’s former president receives five-year sentence over $500 million in graft charges
Jose Filomeno dos Santos was found guilty alongside three others of fraud, embezzlement and influence peddling.
Mozambican tycoon Salimo Abdula’s kidnapped son rescued in South Africa
One of the alleged kidnappers has been arrested. The search is still underway to arrest the remaining kidnappers.
Botswana tourism tycoon Jonathan Gibson loses $5.6 million as Chobe shares decline
Chobe operates 12 ecotourism lodges and camps on leased land in northern Botswana and the Caprivi Strip in Namibia.
Investors could have ‘cashed in big’ by buying shares in South African mogul Johann Rupert’s Richemont
A $10,000 investment in Richemont on Dec. 31 2020 is worth $18,372 today.
Moroccan real estate tycoon Alami Lazraq’s Alliances Group posts $37.2 million in revenue in Q3 2021
Alliances Group is Morocco’s largest home and hotel builder.