Royal Bank of Canada buys $356.3 million worth of Discovery shares
Royal Bank of Canada acquires a 5.0146% stake in Discovery, signaling confidence in South Africa’s financial services and insurance sector.
Southern Africa
Ex-CEO of Africa’s most valuable company gains $27 million from shares in 2024
Having led Naspers from 2014 until his departure in September 2023, van Dijk continues to benefit from his 0.24 percent stake in the global conglomerate.
South Africa’s wealthiest, Johann Rupert, sees $1.3 billion rise in fortune
The value of his Richemont holdings alone stands at $9.34 billion, reflecting the conglomerate's role as the cornerstone of his fortune.
FDH Bank projects $36.2 million profit in Q4 2024, resilient amid Malawi’s economic slowdown
Malawi’s economic slowdown hasn’t deterred FDH Bank, whose strategic focus and cost management continue to deliver robust profitability and growth.
Sasol cuts gas production at Mozambique plant amid unrest
The unrest, triggered by Mozambique’s contentious October elections, has led to widespread instability, claiming at least 54 lives this week.
Patrice Motsepe's wealth drops $200 million in December, despite Tyme's $1.5 billion valuation
The decline in Patrice Motsepe's wealth has been spurred by the recent drop in the market value of his mining investments.
Pieter Engelbrecht pockets $4.5 million as Shoprite CEO
Shoprite CEO Pieter Engelbrecht’s 2024 compensation package comprises a secure base pay of $1.01 million and a performance-based short-term incentive of $917,841.
Jonathan Gibson gains $3.29 million from stake in Chobe Holdings
This performance has solidified Gibson’s position among the wealthiest investors on the BSE.
FirstRand’s Mary Vilakazi took home $2.2 million in 2024
This remuneration reflects her instrumental role in steering the company’s growth and maintaining its industry dominance.
South African billionaire Jannie Mouton gains $352 million from Capitec shares
Capitec’s strong returns have solidified its position as one of the JSE’s top performers in 2024, offering a 56.29 percent return year-to-date.
South African Reserve Bank sanctions Michiel Le Roux's Capitec Bank
Despite the sanctions, Capitec maintained cooperation in its remedial measures to address compliance weaknesses and enhance its AML framework.
Thungela to acquire remaining interest in Ensham business for $29.9 million
Thungela secures full Ensham ownership, reinforcing its Asia-Pacific presence and boosting coal exports to Japan and Malaysia.
South African billionaire Koos Bekker's Naspers stake gains $108.9 million
Despite market volatility, Naspers’ stock has shown resilience this year, consistently delivering value to investors.
Prosus to acquire online travel agency in Latin America for $1.7 billion
Prosus is set to acquire Latin America’s top online travel agency, Despegar, for $1.7 billion to expand its ecosystem.
Koos Bekker-linked family trust offloads $162 million in Prosus stock
This highlights Bekker’s approach to blending technology investments with high-end real estate, showcasing his commitment to diversified growth.
South African billionaire Ivan Glasenberg loses $1.9 billion on Glencore stake
Glencore's share price slump wipes out $1.9 billion from Ivan Glasenberg's stake.