South African billionaire Patrice Motsepe under pressure in $195 million lawsuit
The lawsuit threatens to derail ARC’s plans to delist and restructure, casting a shadow over the firm’s future.
Southern Africa
Laurence Rapp-led fund surpasses $2.5 billion in assets
Vukile Property Fund has exceeded $2.5 billion in assets, driven by its Iberian expansion and strong earnings from strategic offshore investments.
Ivan Glasenberg makes first Glencore share purchase in a decade
Ivan Glasenberg increases stake in Glencore after decade-long gap. His stake is worth around $3.7 billion, making him Glencore’s largest individual shareholder.
Sim Tshabalala named interim head of Standard Bank's South African unit
This move is designed to provide stability and maintain the strength of both the group and its largest revenue-generating subsidiary during a crucial leadership transition.
Thom Mpinganjira’s FDH Bank stake hits $500 million
This significant growth comes after a notable rise in the shares of the Blantyre-based lender on the Malawi Stock Exchange (MSE).
Barry Swartzberg loses $40 million from stake in Discovery
South African businessman Barry Swartzberg’s stake in JSE-listed Discovery has dropped by $40.1 million, falling from R5.5 billion ($283.8 million) to R4.72 billion ($243.7 million).
Vikesh Ramsunder: The South African leading Australian pharma giant
South African executive Vikesh Ramsunder leads $20 billion Sigma Healthcare, driving its turnaround following a transformative merger.
JP Morgan acquires additional shares in Bernard Berson-led Bidcorp
JP Morgan, the world’s largest bank by market capitalization, buys additional shares worth $290 million in Bernard Berson-led Bidcorp.
Zimbabwe’s richest man Strive Masiyiwa’s AI factory to cost $720 million
The facility, which is set to launch in South Africa by June 2025, will provide businesses, governments, and researchers with world-class AI computing capabilities.
MTN, led by Ralph Mupita, partners with Synamedia to launch streaming platform
By employing multiple monetization strategies, the platform will be adaptable to the unique demands of different African markets.
Johann Rupert loses $3.2 billion as Trump tariffs ripple through global markets
South Africa's richest man, Johann Rupert, saw his net worth fall from $17 billion on March 4 to $13.8 billion at the time of this report.
Saltzman family, one of South Africa’s richest, loses $43.95 million from Dis-Chem stake
This follows a previous loss between Feb. 7 and Mar. 10, when their stake dropped by $45.37 million, from $473.47 million to $428.09 million.
South African tech mogul Zak Calisto’s stake in Karooooo drops $87.9 million
The drop comes in the wake of sweeping U.S. tariffs, which have rattled investors and pushed the mobility Software-as-a-Service (SaaS) company’s stock lower.
Ester Kali: The CEO driving Letshego Namibia’s $360 million financial empire
Ester Kali drives innovation and financial inclusion, building Letshego Namibia into a $360-million force for underserved communities.
NICO, led by Malawian tycoon Vizenge Kumwenda, announces $6 million dividend
NICO Holdings, led by Malawian tycoon Vizenge Kumwenda, declares a $6 million interim dividend as 2024 profits surge over 130%, reinforcing its market dominance.
Italtile shares plunge: Giovanni Ravazzotti loses $83 million in just 8 weeks
Despite the decline, Ravazzotti remains a key player in South Africa’s retail and manufacturing sector.