Andile Abner Ngcaba’s Convergence Partners raises $250 million for Africa expansion
Convergence Partners focuses on enhancing Sub-Saharan Africa’s technology sector.
Southern Africa
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.
South Africa’s Oppenheimer family to earn $990,552 in dividends from UK-based IDH
IDH is a leading healthcare provider with an operational footprint in the Middle East and Africa.
South African billionaire Johann Rupert’s Sunshine Tour teams up with European Tour
The Sunshine Tour is a men’s professional golf tour based in Southern and East Africa.
With Maria Ramos at helm, AngloGold moves to buy out Canadian bullion miner Corvus Gold
The move will increase AngloGold’s precious metal reserves and build low-cost production.
Stake of South African senior executive Josua Malherbe in Remgro gains $1.51 million
Remgro is an investment holding founded by the South African Rupert family in the 1940s.
Namibian tycoon Quinton van Rooyen sees $166.45-million loss as Trustco shares lose half their value
The $167.92-million loss can be linked to a sell-off in the shares of the investment holding.