Christo Wiese-linked retailer Steinhoff says investors will wait until 2023 to receive $1.62-billion settlement
In 2017, Wiese was Steinhoff’s largest shareholder.
Southern Africa
Phuthuma Nhleko’s investment firm looks to sell stake in $3 billion Engen
The sale would generate millions of dollars’ worth of value for Phembani and other entities.
South African billionaire Johann Rupert’s luxury company records over $2.1 billion in profit in 2022
Richemont sales reached an all-time high of €19.2 billion in 2022.
Pieter Engelbrecht-led Shoprite creates $559.3-million Black empowerment trust
The trust will directly benefit the group’s South African employees.
Mining magnates Lucky Kgatle, Quinton van Der Burgh form JV to develop sustainable mining projects in Africa
The two partners hope to support historically disadvantaged actors in the mining industry.
South African tycoon John Copelyn gains $41.8 million from stake in HCI
Copelyn owns a 6.49-percent stake in the Cape Town-based investment holding company.
Digital risk for African family businesses
Cybercrime poses a serious threat to families of wealth.
South African mining mogul Neal Froneman fiercely defends his $18.9-million salary
In 2021, Sibanye-Stillwater’s executive directors and officers were handsomely rewarded, with $51.1 million in remuneration.
Founded by Joaquim David, Angolan oil explorer Somoil plans to go public
Somoil is the largest privately-owned oil exploration company in Angola.
South African businessman Zak Calisto to receive $11.68-million in dividends from Karooooo
Zak Calisto controls a 66-percent stake in Karooooo.
South African exec Nonkululeko Nyembezi becomes first Black woman to chair Standard Bank
Nyembezi is a seasoned South African corporate leader.
South African executive Andre Joubert sells $1.33 million in shares in leading miner, ARM
Joubert has been the CEO of ARM’s Ferrous Division since July 2012.
South African billionaire Patrice Motsepe-linked Sanlam finalizes UK divestment
The divestment is consistent with the group’s strategy to simplify its UK operations.
Tech and the future of African business
Growth in Africa’s tech sector has been stratospheric in recent times.
South African billionaire Nicky Oppenheimer to pocket $2.37 million in IDH dividends
His net worth has risen by more than $675 million since the year began.
South African billionaire Stephen Saad’s Aspen could cut COVID-19 vaccine capacity
Saad controls a 12.5-percent stake in the leading drug company.