South African billionaire Zak Calisto’s Karooooo posts $20.5 million profit in Q2 as subscriptions jump 20%
Calisto says subscription revenue growth accelerated to 20%, supported by strong unit economics and a clean balance sheet.
Southern Africa
South African tycoon Mike Teke’s Seriti starts third phase of Mpumalanga wind project
Seriti Green begins construction on its third Mpumalanga wind project, boosting South Africa’s renewable energy capacity.
South African tycoon Gus Attridge’s Aspen stake rebounds above $100 million
South African businessman Gus Attridge’s stake in Aspen Pharmacare rebounds above $100 million as the company’s shares recover on the JSE.
Kansagra family-backed Kavango Resources draws fresh capital after Zimbabwe listing
Kavango Resources raises fresh capital after Zimbabwe listing, with Kansagra family boosting its Southern Africa expansion.
Canal+, backed by French billionaire, plans JSE listing after MultiChoice takeover
Canal+, led by billionaire Vincent Bolloré, plans JSE listing after taking full control of South Africa’s MultiChoice Group.
Anglo American, led by South Africa’s Duncan Wanblad, to resume coal mine sales in early 2026
Anglo American will resume selling its Australian coal mines after a halted $3.8 billion deal, while pursuing a $50 billion merger with Teck Resources.
Botswana magnate Chandra Chauhan leads Sefalana Group to record $800 million revenue
Chandra Chauhan’s Sefalana Group posts record $800 million revenue, driven by growth in retail and manufacturing across southern Africa.
South African tycoon Adrian Gore’s Discovery Bank plans move into business banking
Discovery Bank, the digital lender backed by Adrian Gore’s Discovery Limited, is moving into SME banking to drive growth and reach R3 billion profit by 2029.
Discovery co-founder Barry Swartzberg loses $40.7 million in share slump
South African tycoon Barry Swartzberg, co-founder of Discovery Limited, has seen his stake drop by $40 million as the insurer’s shares dip on the JSE.
Sanlam, backed by billionaire Motsepe, to acquire medical devices firm Medhold
Sanlam, backed by South African billionaire Patrice Motsepe, is acquiring Old Mutual’s Medhold, expanding its footprint in Africa’s fast-growing healthcare sector.
Discovery CEO Adrian Gore, top executives cash out $5 million in shares
Discovery CEO Adrian Gore and senior executives offloaded nearly R100 million in shares, sparking debate over insider sentiment at the South African financial giant.
FirstRand, led by Mary Vilakazi, flags $14.7 billion U.K. car loan payout risk
FirstRand, led by South African banker Mary Vilakazi, flags UK plan that may cost lenders £11 billion, surpassing earlier estimates.
Shoprite shares fall, costing South African billionaire Christo Wiese $40 million
Christo Wiese loses $43.7 million after Shoprite shares dip, highlighting strain in South Africa’s retail sector.
Patrice Motsepe’s fortune tops $3.5 billion as gold prices hit all-time high
South African billionaire Patrice Motsepe’s net worth rebounds above $3.5 billion as gold prices surge past $4,000 per ounce.
Glencore, led by Gary Nagle, gets $395 million Australian backing for copper smelter
Glencore secures $395 million Australian support to keep Mount Isa copper smelter operational and boost critical mineral supply.
Aspen’s market slide wipes $20 million off Stephen Saad’s stake
Stephen Saad’s Aspen Pharmacare stake drops by $20 million as the company’s stock slips 6 percent on the Johannesburg Stock Exchange (JSE).