Ackerman family loses $71.5 million in 12 days as Pick n Pay shares fall to 20-week low
Shares in the retailer on the Johannesburg bourse have lost more than one-eighth of their value since May 31.
Southern Africa
Netherlands court orders Isabel dos Santos to hand over Galp shares worth $500 million to Angola
The court found dos Santos guilty of exploiting Angola’s oil wealth.
John Borshoff’s Deep Yellow to cancel 1.54 million shares due to unmet criteria
According to a notification on the Johannesburg Stock Exchange, the share buy-back program will occur on Aug. 13.
South African businessman Christoffel Wiese suffers $22.7-million loss as Tradehold shares tumble
The multimillion-dollar loss came off the back of a double-digit plunge in the share price of Tradehold.
Why South Africa’s Brenthurst Wealth walked away from Sec 12J Investments
The curtain falling on Section 12J funds signals the end of a contentious era in the country’s investment industry.
Andile Abner Ngcaba’s Convergence Partners raises $250 million for Africa expansion
Convergence Partners focuses on enhancing Sub-Saharan Africa’s technology sector.
UK sanctions controversial Zimbabwean billionaire Kudakwashe Tagwirei
Tagwirei will no longer be able to channel his money through UK banks, or to enter the country.
Zak Calisto’s Karooooo Limited posts $7.38 million in profits for Q1 2022, as earnings fall
When compared to last year’s figures, the Singapore-based company suffered a 19.2-percent decline in earnings.
Stake of billionaire Strive Masiyiwa in Econet Wireless Zimbabwe Limited worth $121.13 million
Masiyiwa owns a total 52.85-percent equity stake in the publicly-traded company.
$250-million stake in Kudakwashe Tagwirei-linked Kuvimba Mining House Limited was gift, Zimbabwe says
The stake was donated to support the government in its efforts to compensate evicted White farmers.
South African billionaire Michiel Le Roux loses $173.59 million as Capitec Bank shares fall
Capitec is South Africa’s largest lender by number of customers and a leading global brand.
Neal Froneman’s Sibanye-Stillwater losses $1.43 billion after mine closure announcement
As of press time, its shares were trading 7.17-percent lower than its opening price for the day.
Stake of Hyundai Automotive South Africa CEO Niall Lynch in Motus declines by $7.55 million
The $7.55-million loss came off the back of a sell-down in the company’s share.
U.S.-sanctioned Zimbabwean billionaire Kudakwashe Tagwirei donates $170 million to state for COVID-19 vaccines
Sakunda Holdings claims the effort will help the state mitigate the effects of COVID-19 in the country.
Neal Froneman’s Sibanye-Stillwater likely to shut down South African gold mines in next decade
The closure will most probably occur due to low returns as it becomes harder to exploit aging assets in the country.
South Africa-born billionaire Morris Kahn to donate $70 million to Israel’s SpaceIL project
SpaceIL is a nonprofit Israeli organization established in 2011.