Tongaat Hulett to sell Zimbabwe operations in $330-million deal amid currency woes
The deal will be executed via a debt-to-asset swap, a component of Tongaat's ongoing restructuring process.
Southern Africa
South African businessman Christopher Seabrooke’s Sabvest stake hits $77 million in 2024
Christopher Seabrooke’s stake in Sabvest Capital grew by $10.57 million in 2024, reaching a market value of $77 million by year-end.
Des de Beer adds to Lighthouse stake with $13.7 million share purchase in 2024
Des de Beer increased his Lighthouse Properties stake by 1.61 percent, acquiring $13.7 million in shares throughout 2024.
Terrence Moolman makes $15 million from Caxton stake in 2024
This not only cements Moolman’s position among South Africa's wealthiest investors but also highlights his significant influence in the media industry.
Nearly $20 billion added to the wealth of African billionaires in 2024
During the year, the list of African billionaires expanded from 25 to 27.
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.
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.