South African billionaire Jannie Mouton gains $52 million from Capitec stake
Capitec Bank's stock rally boosts Mouton's fortune, reinforces bank’s status as Africa’s leading retail bank.
Southern Africa
South African billionaire Zak Calisto’s Karooooo to pay $38.6 million dividend to shareholders
Karooooo, led by Zak Calisto, approves $38.6 million dividend as revenue surges, fueled by Cartrack subscriptions and logistics growth in early FY 2026.
ArcelorMittal South Africa, linked to Noluthando Gosa, reports $52 million loss
ArcelorMittal SA posts $52 million H1 2025 loss as weak demand, lower prices, and rising debt weigh on margins despite IDC support and cost cuts.
Zimbabwean tycoon Ken Sharpe’s WestProp begins work on $4 billion smart city in Harare
Conoil Producing extends its partnership with Shelf Drilling through 2027 to advance offshore work, following the launch of its Obodo crude grade.
South African tycoon Barry Swartzberg's Discovery stake falls by $13.7 million
Discovery shares dip 4.33% on JSE, wiping $13.7 million from Barry Swartzberg’s stake and pushing market value below $8 billion.
Glencore, led by South African executive Gary Nagle, to cut global operating costs by $1 billion
Glencore targets $1 billion in savings, plans coal spinoff and copper mine closure amid weak refining margins.
South African executive Gerrie Fourie bags $8.2 million farewell payout from Capitec
Capitec’s longtime CEO Gerrie Fourie exits with $8.2 million payout after growing the bank into a $22.42 billion retail leader.
Prosus, led by South African billionaire Koos Bekker, extends $4.73 billion Just Eat offer to October
Prosus extends $4.73 billion Just Eat Takeaway offer to October 2025, aligning with EU review, eyes $12.5 billion revenue by 2028.
Accelerate, partly owned by Michael Georgiou, secures $5.57 million capital
Accelerate, part-owned by Michael Georgiou, secures $5.57 million to upgrade Fourways Mall and ease debt burden amid unresolved affiliate claims.
Adrian Gore's Discovery Green faces legal challenge from Eskom over trading license
Eskom sues to block trading licenses issued to Discovery Green and others, warning of grid risks and unfair energy market competition.
Christo Wiese-backed Pepkor draws $470 million investment from US-based hedge fund
Silverpoint Capital’s $470 million stake in Christo Wiese-backed Pepkor signals global investor confidence, following PIC’s deeper $874 million commitment.
Hitesh Anadkat’s FMB Capital stake tops $900 million, making him Malawi’s richest
FMB Capital’s $1.9 billion valuation boosts Hitesh Anadkat’s stake to $900 million, reinforcing his lead as Malawi’s richest individual.
Nigerian businessman Gbotemi Kuti’s Oak Heirs acquires controlling stake in Air Liquide
Oak Heirs, led by Gbotemi Kuti, takes over 87.31% of Air Liquide Nigeria, expanding its portfolio into industrial and medical gases.
Absa, led by Kenny Fihla, signs deal with BYD to boost EV financing in South Africa
The Johannesburg-based lender aims to build a sustainable finance ecosystem as demand for new energy vehicles (NEVs) continues to climb.
Aliko Dangote turns to Angola tankers as Nigeria misses out on $400 million shipping revenue
Dangote’s $19 billion refinery uses Angola’s tankers as Nigeria’s stalled shipping sector misses out on $400 million annual freight revenue.
Southern Sun, led by John Copelyn, confirms role in $84 million Umhlanga hotel project
Construction is expected to wrap up by the end of 2027, adding to the development’s overall scale and prestige.