Pick n Pay, backed by Ackerman family, shuts more stores across South Africa
The retailer has closed 32 additional stores across the country, signaling its effort to streamline operations and reduce losses.
Southern Africa
South African billionaire Douw Steyn passes away at 72
Douw Steyn, founder of Steyn City and owner of Saxon Hotel, dies at 72 after battling ongoing health issues.
Anglo American plans spin-off, 12 years after Oppenheimer family’s $5.2 billion De Beers exit
Anglo American plans to spin off De Beers by end of 2025, part of broader strategy to focus on high-growth commodities.
Hitesh Anadkat, one of Malawi's richest, sees FMB Capital stake surpass $410 million
Since the start of 2025, Anadkat’s 45.32 percent stake, which consists of 1,114,195,155 shares, has grown by $54.26 million.
Vodacom, led by South African exec. Shameel Joosub, extends deadline for $790 million Maziv deal
The deal, first disclosed on Nov. 10, 2021, has encountered multiple regulatory and transactional hurdles, leading to repeated extensions.
Noluthando Gosa-linked ArcelorMittal to halt steel operations amid $53.5 million rescue talks
This decision comes just 25 days after the company announced plans to wind down its Longs steel division, fueling speculation about government intervention.
South African tycoon Jens Montanana’s stake in Datatec nears $100 million
This solidifies his standing as one of South Africa’s top investors.
South Africa’s richest man, Johann Rupert, gains $2.67 billion in January—net worth hits $16.3 billion
The $2.67 billion increase in January alone far exceeds the $1.3 billion he added throughout 2024.
JP Morgan takes stake worth $148 million in Bertina Engelbrecht-led Clicks Group
JPMorgan lifts its Clicks Group stake to 6.54%, signaling confidence in the retailer’s resilience as Standard Bank trims holdings amid market shifts.
Standard Bank, led by Sim Tshabalala, commits nearly $1 billion to Barloworld acquisition
The bank’s backing is a key part of the broader R22.8 billion ($1.23 billion) bid, reinforcing its role as a dominant corporate financier on the continent.
Malagasy businessman Hassanein Hiridjee’s AXIAN Telecom lands $160 million financing to enhance infrastructure
This will enable AXIAN to modernize its network infrastructure, expand 4G and 5G services, and fuel digital innovation across its operations.
South African pharma tycoon Stephen Saad’s Aspen stake rises above $550 million
With the recent rise in Aspen's stock price, the value of his holdings has crossed $550 million, marking a recovery after a challenging 2024.
Ex-CEO of Africa’s most valuable company sees stake slump below $100 million
Tencent’s struggles and global tech uncertainty weigh on Africa’s most valuable company, Naspers.
South African billionaire Jannie Mouton’s Capitec stake falls below $1 billion after $59.5 million drop
This decline comes after a strong 2024 performance that saw Mouton’s stake gain $350 million, soaring from over $650 million to beyond $1 billion.
South Africa’s Ackerman family faces $20 million loss on Pick n Pay shares
The family’s stake, previously valued at R4 billion ($213.8 million), now stands at R3.62 billion ($193.95 million).
Shoprite, backed by South African billionaire Christo Wiese, posts $6.8 billion in half-year sales
The group’s South African supermarket division, which accounts for 83.7 percent of total revenue, recorded a 10.4 percent increase in sales, reaching $5.7 billion.