Patrice Motsepe’s African Rainbow Minerals sees profit halve as mining pressures mount
The company’s headline earnings fell 49 percent to R1.52 billion ($83.43 million), down from R2.96 billion ($162.2 million) a year earlier.
Southern Africa
Malawian insurance mogul Vizenge Kumwenda gains $10.8 million from NICO stake
Beyond his investment in NICO Holdings, Kumwenda also owns a 0.17-percent stake in NBS Bank, valued at MWK1.73 billion ($1 million).
Malawi’s 15 richest people amass a stunning $1.92 billion fortune
Anadkat and Mpinganjira account for $1.66 billion of the total combined wealth of Malawi’s 15 richest individuals.
South African tycoon Paul Hanratty-led Sanlam, declares $522.3 million dividend payout in 2024
Sanlam raises its dividend 11% to $522.3 million, driven by strong earnings, strategic partnerships, and solid growth in key African and Indian markets.
South African tycoon Adrian Gore’s stake in Discovery rises by $42.9 million in three weeks
The steady rise in Adrian Gore’s stake reflects growing investor confidence in Discovery.
Zimbabwean billionaire Strive Masiyiwa’s Econet to pay $18.9 million to investors
Econet Wireless to pay $18.91 million dividend, up 32.73%, as data revenue surges, reflecting a shift toward data-driven services.
South Africa’s largest gold miner, backed by Patrice Motsepe, posts $2 billion in half-year revenue
Harmony Gold posted $1.98 billion in H1 revenue, driven by surging gold prices, cost control, and a record dividend, despite a slight dip in production.
South African billionaire Christo Wiese-backed Shoprite rewards investors with $91.5 million payout
The payout reflects the company’s commitment to rewarding shareholders while navigating economic pressures.
Bidvest, led by South Africa’s Mpumi Madisa, announces $86.9 million dividend payout
Bidvest posts higher profit, declares $86.9 million dividend as strong cash flow, resilient demand, and disciplined strategy offset economic headwinds.
Giovanni Ravazzotti’s Italtile shutters stores as crime surges in South Africa
It has urged the government to take action, saying that crime has not only affected its operations but also increased costs related to security.
Fairtree invests $210 million in South Africa’s richest man Johann Rupert’s Remgro
This reinforces Fairtree’s commitment to investing in high-quality South African businesses while expanding its footprint in the country’s equity market.
South African billionaire Adrian Gore’s Discovery rakes in $377.9 million profit in H1 2025
The solid performance came despite a tough economic climate, driven by growth in its core businesses, customer acquisition, and steady global expansion.
South African gov’t engages ArcelorMittal SA, linked to Noluthando Gosa, to prevent steel plant closure
The discussions follow failed rescue efforts and mounting financial pressure on the company.
South African billionaire Jannie Mouton’s Capitec stake dips below $1 billion
Jannie Mouton’s Capitec Bank stake, which was valued at $1 billion on Feb. 26, has now dropped to $979.41 million.
RCL Foods, backed by South Africa’s richest man, reports $730 million in half-year revenue
Revenue climbed to $730 million, while profit surged to $63 million, reflecting strong execution across key segments.
Stephen Saad leads Africa’s largest drugmaker to $1.2 billion in half-year revenue
The growth was fueled by the successful integration of acquired products in Latin America.