Africa’s richest billionaire Aliko Dangote loses $200 million as share price of three of his businesses declines
Between Aug. 24 and Sept. 15, Dangote’s net worth declined from $18.2 billion to $18 billion.
Southern Africa
Patrice Motsepe’s African Rainbow Capital sets aside $24.7 million for aggressive expansion into fintech space
The investment company has entered negotiations to add a fintech conglomerate to the group.
Former CEO Sarel van Zyl receives salary package of $333,000 in 2021 from FirstRand Namibia
Compared to the previous year’s pay of $623,147, Awori’s remuneration in 2021 fell by nearly 47 percent.
Malawian mogul Hitesh Anadkat earns $1.34 million in 15 days as TNM results trigger surge in stock price
The gain can be attributed to swift investor reactions after the telecom company’s half-year earnings were published.
Ten female executives playing critical roles in Africa’s financial sector
Africa’s financial sector has seen massive growth over the past few years compared to previous decades.
Jack Bowles’ British American Tobacco roped into bribery scandal involving Mugabe
BAT has been accused of paying bribes in Southern Africa and using illegal surveillance to sabotage competitors.
Pieter Engelbrecht-led Shoprite plans to integrate Walmart subsidiary into operations
Africa’s largest retailer has unveiled plans to integrate the subsidiaries of Walmart-owned Massmart into its operations.
Patrice Motsepe’s phosphate maker to launch operations after activist appeal dismissed
The appeal was raised by the West Coast Environmental Protection Association.
Malawian tycoon Thomson Mpinganjira convicted in 2019 presidential election bribery case
The multimillionaire had pleaded not guilty to six bribery-related charges.
Patrice Motsepe’s Sanlam plans strategic acquisitions to strengthen its Africa operations
Sanlam seeks to acquire Alexander Forbes and an additional 22.8-percent stake worth R2 billion in Saham Assurance Maroc.
German state-owned bank fined for Angolan loan linked to Isabel dos Santos’ beer company
KfW-Ipex-Bank is an import-export bank and a subsidiary of Kreditanstalt fur Wiederaufbau.
South African billionaire Quinton van der Burgh launches coffee table book to give back to charity
The book features John Russo’s photographs of celebrities, including Dwayne “The Rock” Johnson.
Andries van Rensburg’s Libstar Holdings records 27.8-percent decline in half-year earnings
Libstar’s earnings during the period were impacted by unfavourable foreign currency movements.
Namibian tycoon Quinton van Rooyen loses $187.2 million in 2021 as Trustco shares decline
Trustco shares on the Namibia Stock Exchange have now lost more than two-thirds of their value.
South African retail tycoon Christo Wiese earns $122.6 million in 70 days from Shoprite
Renewed buying interest in the shares of the retail giant led to a double-digit increase in its share price.
Oscar Pierre’s Glovo announces $60-million Africa expansion plan
The company has already invested €25 million in its existing African operations.