Africa's first Black billionaire faces pressure to sell South African fresh food unit
South Africa’s Competition Commission has recommended ARC divest from one of the country’s largest fresh produce agencies.
Southern Africa
South African tycoon Giovanni Ravazzotti loses $46.8 million in Italtile stake in early 2025
This decline comes on the heel of a nearly 30 percent gain experienced in 2024 which added $24.82 million to his stake.
South African tech mogul Zak Calisto gains $45 million from Karooooo shares in early 2025
The latest increase extends the market value of his stake to nearly $950 million.
Naspers spends $1.2 billion on share buybacks in less than 5 months
Naspers has invested $1.2 billion to repurchase 5.38 million shares over the past five months, enhancing shareholder value and reaffirming financial stability.
Glencore faces dual bids for Koniambo Nickel stake in new Caledonia
Glencore Plc, led by South African executive Gary Nagle, reviews two bids for its 49% Koniambo Nickel SAS stake after site visits.
JP Morgan strengthens position in South Africa with $150.8 million Bidcorp stake
JP Morgan raises stake in Bidcorp by 1.92 percent, signaling confidence in South Africa's food service sector.
South African billionaire loses $112 million as US targets Tencent in Chinese military blacklist
His 0.76% stake in Prosus dropped $73 million, while his 0.93% stake in Naspers lost $39.6 million.
Capitec shuts accounts of Zimbabwean exemption permit holders, raising concerns
Capitec Bank's decision to close the accounts of Zimbabwean Exemption Permit holders has sparked widespread concern, complicating the financial stability of thousands amidst ongoing legal uncertainty.
Sasol faces worst annual drop amid scrutiny of emissions strategy
Sasol's stock plummets by 56 percent in 2024 as the company faces mounting pressure over its environmental strategy and heavy reliance on coal.
Zimbabwe's Innscor commits $3.9 million to CSR projects in 2024
Innscor Africa’s $3.9 million CSR drives education, healthcare, and community growth, impacting thousands across Zimbabwe in 2024.
South Africa's richest person adds $138 million to net worth in first week of 2025
This recent surge brings his wealth closer to crossing the $14-billion mark—a milestone last achieved in October 2024.
Trustco wins shareholder approval for $25 million stake in Legal Shield Holdings
The deal, which marks a major move for Trustco, will proceed as planned, with all conditions either met or waived.
Accelerate in talks to sell Cape Town’s tallest building, four other properties
These properties were reclassified from investment properties to non-current assets held for sale in Accelerate's recent financial results.
South African executive Gary Nagle sees $3.2 million decline in Glencore shares in 2024
The steep decline underscores the challenges confronting Glencore and its investors as the company grapples with market volatility and shifting global demand.
ArcelorMittal South Africa to wind down Longs steel division, impacting 3,500 jobs
ArcelorMittal South Africa to close longs steel unit, impacting 3,500 jobs amid rising imports and high costs.
Motsepe’s stake in Tyme soars to $600 million following record funding round
Tyme, which operates in Africa and Southeast Asia, in December raised $250 million in its Series D capital raise, pushing its valuation to $1.5 billion.