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.
Southern Africa
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.
South African billionaire Patrice Motsepe’s ARC moves to buy, delist CSG Holdings
CSG offers staffing solutions, facilities management and personnel and industrial support in South Africa.
Johann Rupert’s Richemont gains 2.4 percent in single day as investors react to hedge fund taking equity position
The U.S. hedge fund Third Point Management owns a 1.2-percent stake in the Swiss company.
Ramachandran Ottapathu’s Choppies posts profit for first time since 2016, earnings surge above $5 million
Choppies Enterprises Limited is a Botswana-based investment holding company operating in the retail sector in Southern Africa.
Mark Blair-led Mr Price expects half-year earnings to jump by 30 percent thanks to strong retail trading operations
Although retail companies saw their income drop in 2020, a fast recovery is expected for market leaders like Mr Price.
John Moxon’s Meikles reports 89.3-percent drop in earnings for 2021, while revenues grow by three percent
Meikles is a Zimbabwe-based company with a diverse portfolio of investments.
South African exec Duncan Wanblad to pocket at least $1.71 million as new Anglo American CEO
His total salary package as the new CEO is expected to be significantly higher.
Saltzman family’s Dis-Chem Pharmacies resumes dividend payment, owners to pocket $10.8 million
Dis-Chem Pharmacies is a leading pharmacy retail and healthcare group based in South Africa.
Telecom magnate Strive Masiyiwa’s Liquid partners with Orange to improve connectivity in Africa
Liquid will gain access to Orange’s West African infrastructure, particularly Djoliba.