Namibian tycoon Quinton van Rooyen’s Trustco wins round in court against JSE
Shares in the group rose 35.56 percent as a result.
Southern Africa
South African tycoon Jens Montanana’s Datatec acquires UK-based firm after closing $252-million deal
Datatec is a South African ICT services provider.
Zimbabwean exec Andrew Chimphondah-led Shelter Afrique recovers $5.7 million in troubled projects
Chimphondah is known for his successful business turnarounds.
South African billionaire Nicky Oppenheimer loses $780 million in past 54 days
Oppenheimer remains one of Africa’s richest billionaires and South Africa’s second wealthiest person.
Johann Rupert’s Remgro, MSC reach agreement on Mediclinic acquisition terms
Rupert’s investment firm, Remgro, owns 44.6 percent of Mediclinic, South Africa’s largest hospital operator.
South African exec Arrie Rautenbach-led Absa Group expects earnings to rise by 27 percent in H1 2022
Rautenbach owns a 0.023-percent stake in the banking group, worth $1.94 million.
Billionaire Patrice Motsepe-linked Tyme Bank moves to acquire South African fintech lender, Retail Capital
TymeBank is owned in part by African Rainbow Capital Financial Services Holding, a Black-owned and -controlled company.
Family is the elephant in the room
The biggest challenges for family businesses in Africa have to do with the family system and not with the business system.
South Africa’s richest man Johann Rupert gains $1 billion in July as investors react to Richemont’s Q1 results
The majority of Rupert’s fortune stems from his stake in Richemont.
South African founder Luyolo Sijake’s point-of-sale tech startup Qwili raises $1.2 million
Sijake, Thandwefika Radebe, and Tapfuma Masunzambwa co-founded Qwili in 2020.
Botswana tycoon Gulaam Abdoola loses over $1 million from Turnstar investment
Despite the million-dollar decline, the businessman still ranks as one of the wealthiest investors on the Botswana Stock Exchange.
Nassef Sawiris gains $7 million in July, recoups only fraction of June $600-million loss
Sawiris sits on the boards of Adidas and OCI N.V.
Led by South African Saltzman family, Dis-Chem Pharmacies opens third outlet in Botswana
Dis-Chem Pharmacies is a high-performing pharmacy and healthcare group in South Africa.
South African mogul Zak Calisto’s Karooooo posts nearly $9.5 million in profit in Q1 2023
Calisto owns a majority stake in the global provider of smart transportation management and analytics.
Botswana-based mogul Jonathan Gibson’s Chobe suffers over $3.3 million in losses in 2021
Gibson owns 35.6 percent of the company.
Patrice Motsepe-linked MetroFibre secures $298 million in debt funding from Standard Bank Group
MetroFibre is partly owned by African Rainbow Capital, an investment unit founded by Motsepe.