South African executive Simon Baloyi-led Sasol posts $6.7 billion in revenue in H1 2024
The decline in revenue was driven by a combination of weaker oil prices, a 5 percent drop in sales volumes, and softer market demand.
Southern Africa
Zimbabwe’s richest man urges local venture funding, pushes for high school entrepreneurship
Strive Masiyiwa believes a stronger local investment ecosystem would create a more sustainable future for entrepreneurs across the continent.
South African billionaire Patrice Motsepe’s ARC, raises stake in JSE-listed Alexforbes to $264 million
Patrice Motsepe’s ARC raises its stake in JSE-listed Alexforbes to $264.34 million, reinforcing its influence in South Africa’s financial services sector.
Prosus, led by South African Billionaire Koos Bekker, acquires food delivery firm for $4.3 billion
Prosus acquires Just Eat Takeaway.com for $4.3 billion, expanding its European food delivery dominance and leveraging AI, investment expertise, and logistics innovation.
Ninety-One boosts stake in insurer linked to Africa’s first Black billionaire to over $510 million
The move, disclosed in a regulatory filing on Friday, Feb. 21, 2025, underscores the deep relationship between the two firms.
Trustco, owned by one of Namibia’s richest families, faces fresh suspension in South Africa
The move comes after Trustco revealed that it is considering delisting from the Johannesburg Stock Exchange as part of its plan to pursue a direct listing on Nasdaq.
Oppenheimer, South Africa’s second-richest man, is $550 million richer this year
In the first two months of 2025, his net worth has risen from $11.6 billion to $12.1 billion.
Neal Froneman, South African mining tycoon, leads Sibanye to $70.4 million profit in H2 2024
Sibanye-Stillwater posts a $70.4 million profit in H2 2024, driven by restructuring, cost-cutting, and higher gold prices as CEO Neal Froneman nears retirement.
South Africa’s richest man loses $400 million after brief surge to $17 billion
The drop followed a wave of profit-taking by investors, which pushed down the share price of Richemont, where Rupert holds a significant stake.
Anglo American, led by South Africa’s Duncan Wanblad, to pay $791-million dividend
This comes despite a 64.94 percent decline in headline earnings, underscoring commitment to shareholders amid a challenging operating environment.
Glencore weighs shock London delisting under South African executive Gary Nagle
Glencore’s review comes amid mounting concerns over the attractiveness of the LSE, where UK equities have traded at a persistent discount.
Sibanye, led by South African tycoon Neal Froneman, strikes chrome management deal with Glencore
The deal will see Glencore’s joint venture with Merafe Resources oversee Sibanye’s chrome recovery plants in South Africa.
South African executive Mpumi Zikalala led-Kumba Iron Ore to reward shareholders with $347 million
Kumba Iron Ore declares R19.9 ($1.08) per share final dividend for fiscal year 2024, despite a 20.53% revenue decline and ongoing logistics challenges.
South African billionaire Koos Bekker’s net worth climbs to $3.2 billion as Tencent adds DeepSeek AI to WeChat
The $200-million windfall is tied to Bekker’s stakes in Africa’s most valuable company, Naspers, and its Amsterdam-based subsidiary, Prosus.
South African exec. Duncan Wanblad-led Anglo American announces nickel business sale for up to $500 million
Anglo-American, led by South African executive Duncan Wanblad, has agreed to sell its nickel business to MMG Limited for up to $500 million.
Botswana businessman Duncan Lewis’ CA&S Group acquires stake in Tradco, expanding East African presence
CA&S Group expands in East Africa with a 35% stake in Tradco, strengthening its FMCG presence and positioning for long-term market growth.