Zak Calisto’s Karooooo faces major write-down after political unrest in Mozambique
It expects minimal impact on earnings and cash flow, as Mozambique contributes a small share of profits across 25 countries.
Southern Africa
5 companies owned by South African businessman Lazarus Zim
His career—spanning executive leadership, major acquisitions, and boardroom influence—reflects a deep understanding of South Africa’s shifting economic landscape.
Botswana retail tycoon Ramachandran Ottapathu’s Choppies sells Zimbabwe unit to local retailer
Botswana’s Choppies exits Zimbabwe, selling its 30-store retail business to Sai Mart as it refocuses on profitable markets amid economic challenges.
South African billionaire Patrice Motsepe’s ARM weighs sale of $821 million Harmony Gold stake
The company, which has been expanding into renewable energy, is weighing whether to hold or offload its 11.8 percent stake in Harmony, South Africa’s largest gold miner.
Mary Vilakazi leads Africa’s biggest lender to $1.23 billion half-year profit
Led by South African banker Mary Vilakazi, FirstRand continues to demonstrate resilience and solid returns for shareholders despite challenging economic conditions.
South Africa’s Saltzman family sees $45 million wipeout as Dis-Chem shares plunge
This latest drop comes after a $26.33 million loss earlier in the year.
Bidvest, led by South African executive Mpumi Madisa, secures UK nod for Citron takeover
This marks a major step in Bidvest’s global expansion, strengthening its position in hygiene, facilities management, and distribution services.
South African billionaire Patrice Motsepe to pocket $25.4 million from mining business
This payout comes despite a 25% dividend cut amid falling earnings and financial strain in a volatile commodity market.
South African billionaire Christo Wiese’s Shoprite stake drops below $1 billion—first time in months
The decline reflects growing pressure on retail stocks in South Africa, as investor sentiment shifts on the Johannesburg Stock Exchange.
Simbisa, led by Zimbabwean businessman Addington Chinake, reports $157.5 million revenue
Simbisa Brands’ H1 2025 revenue rose 7% to $157.5 million, but profits fell 10.7% as rising costs in Zimbabwe and Kenya squeezed margins
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.
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.