Norman Moyo-led Grid Africa, seals fresh deal to boost energy access in Africa
This collaboration aims to address the pressing energy deficit in Sub-Saharan Africa, where many nations struggle to meet escalating power demands.
Southern Africa
Stephen Saad raises Aspen stake by $5.6 million amid stock slump
Stephen Saad invests $5.6 million more in Aspen amid its biggest stock slump in two decades, signaling confidence in the company’s long-term outlook.
South African businessman Swartzberg nets $36 million from Discovery stake
Swartzberg, a top figure in South Africa’s financial services industry, owns a 3.92-percent stake in Discovery, about 25.95 million shares.
Trustco, led by Quinton van Rooyen, loses $11 million tax case
Trustco loses court bid as Namibia upholds NAD305.5 million ($16.7 million) tax recovery.
Absa Group Chair Sello Moloko to step down in July
René van Wyk, a former interim CEO of the bank and seasoned regulator, will take over as chairperson of both Absa Group and Absa Bank.
Charles Molapisi leads MTN South Africa's affordable smartphone rollout
Charles Molapisi is leading MTN South Africa’s rollout of affordable smartphones to help bridge the digital divide and expand access to 4G and 5G networks.
South Africa’s Saltzman family gains $53.5 million from Dis-Chem shares
The Saltzman family’s Dis-Chem stake surged by $53.5 million, recovering earlier losses and reinforcing their position among South Africa’s richest investors amid renewed market confidence.
Gautam Adani’s port arm eyes South Africa amid expansion push
Adani Ports is evaluating a push into South Africa as it seeks to expand across African trade routes after turbulence slowed its international momentum.
Christopher Seabrooke gains $11 million from Sabvest stake
This comes after a tough period earlier in the year when Seabrooke saw his wealth dip by $6.35 million due to a decline in the company’s stock price.
South Africa’s Giovanni Ravazzotti sees Italtile stake slip below $400 million
This fresh setback extends a rough stretch for Ravazzotti, whose fortune had already taken a heavy blow earlier in the year.
Duncan Wanblad-led Anglo American gets nod to spin off platinum unit
Anglo American has won shareholder approval to spin off its platinum arm, Valterra Platinum, effective May 31, 2025, as part of a major restructuring.
Natie Kirsh may rethink $1.2 billion takeover after rival stake purchase
In April, Kirsh, through his family office Ki Corporation, teamed up with Public Storage to bid for Abacus Storage King.
Reinet, led by Johann Rupert, posts $7.9 billion in net assets
Reinet, led by Johann Rupert, posts $7.89 billion in net assets as it shifts away from tobacco and toward diversified, long-term investment growth.
Sibanye, led by Neal Froneman, plans to shut loss-making assets
The company warned that its South African PGM operations may no longer be viable if prices don’t recover soon.
Malawi’s richest man loses $183 million from FMB Capital stake
A recent dip in FMB Capital’s share price on the Malawi Stock Exchange has shaved $183 million off Hitesh Anadkat’s investment.
Absa Bank led by Sello Moloko faces fresh sanctions
This development comes after an inspection in 2022 that revealed lapses in Absa's adherence to critical regulatory requirements.