Safwan Thabet’s Juhayna starts 2025 strong with $13 million Q1 profit
Safwan Thabet-led Juhayna posted a $13 million Q1 profit in 2025, driven by robust demand, merger gains, and product innovation across core dairy and juice segments.
Southern Africa
South African billionaire Koos Bekker-led Prosus plans to double revenue by 2028
The company’s CEO, Fabricio Bloisi, announced this ambitious growth plan during Prosus’s Capital Markets Day on Wednesday.
South African billionaire Jannie Mouton gains $37 million from Capitec shares
Capitec’s stock surge boosts Mouton’s fortune and reaffirms investor confidence in South Africa’s leading retail bank.
Sven Thieme expands O&L’s footprint in Namibia’s luxury tourism with Desert and River Lodge acquisitions
The deal is currently subject to approval by the Namibian Competition Commission.
South Africa’s Ivan Saltzman transfers nearly $400 million in Dis-Chem shares to sons
The move involves 217 million shares held via Ivlyn Local Investment Holdings, an investment vehicle controlled by the Saltzman family.
MTN, led by Zimbabwe’s Ralph Mupita, completes $360 million share buyback
MTN Group repurchases $357.8 million worth of shares from MTNZF, closing BEE scheme and strengthening its balance sheet under CEO Ralph Mupita’s leadership.
How Prosus plans to repeat South African billionaire Bekker’s billion-dollar Tencent bet
Prosus bets big on India, echoing Bekker’s Tencent strategy with long-term investments in tech platforms like PayU and Meesho.
Kenny Fihla-led Absa accounting ‘in disarray,’ court denies property seizure bid
The court rejected Absa’s application, insisting the matter requires full trial and mediation, which the bank had declined.
South African tycoon Giovanni Ravazzotti gains $18 million from Italtile stake
Giovanni Ravazzotti gains $18 million in four days as Italtile shares rebound, lifting his stake to nearly $420 million despite year-to-date losses.
Hassanein Hiridjee’s AXIAN Telecom secures $28.8 million loan after Jumia stake deal
AXIAN Telecom secures $28.8 million from IFC to expand broadband in Comoros, including 5G rollout and fiber upgrades starting in 2025.
Dis-Chem founder Ivan Saltzman restructures $377.7 million stake among heirs
Dis-Chem’s Ivan Saltzman restructures $377.7 million stake, transferring shares to heirs in a move reinforcing family control, succession, and executive alignment.
Pick ‘n Pay, backed by Ackerman family, fuels retail recovery in South Africa
The group’s portfolio optimization reflects a growing trend toward efficiency and modernization in South African retail.
Johann Rupert’s Richemont debuts Van Cleef & Arpels boutique in Florence
Richemont’s Van Cleef & Arpels opens its first Florence boutique, showcasing high-jewelry heritage and bolstering the group’s luxury retail presence in Europe.
Barry Swartzberg’s Discovery stake declines by $10 million
In just 16 days, his stake declined from $318.68 million to $308.54 million, tracking a 3.18-percent drop in Discovery’s stock.
South African billionaire Christo Wiese’s Brait plans to sell UK retailer
The move is part of a broader effort to simplify its portfolio, repay debt, and return capital to shareholders.
Elon Musk's SpaceX to invest $28 million to expand Starlink in South Africa
The proposed investment aims to provide free high-speed broadband connectivity to 5,000 rural schools, reaching 2.4 million children nationwide.