Nombasa Tsengwa resigns as governance investigation unfolds in Exxaro
Tsengwa’s resignation follows her precautionary suspension in December 2024 amid an independent probe into allegations concerning workplace conduct and governance.
Southern Africa
Meet Noel Mkulichi: Malawian banker behind billion-dollar lender, FDH Bank
Mkulichi’s leadership isn’t just about financial performance—he is deeply committed to financial inclusion, gender equality, and youth empowerment.
Lesaka, linked to Africa’s first Black billionaire Patrice Motsepe, posts $36.7 million loss in H1 2024
Lesaka’s H1 2024 revenue rose to $292.36 million from $279.98 million a year earlier, but mounting costs hit profitability.
South African businessman Giovanni Ravazzotti’s stake in Italtile slumps below $500 million
This adds to an earlier loss of $46.83 million between Jan. 1 and 13, when his stake in Italtile dropped from $551.82 million to $504.99 million.
South African tech mogul Zak Calisto sees $71 million boost from Karooooo shares
This gain comes after a late-January decline that had reduced his stake to $874 million.
Africa’s largest asset manager sells $7.9 million stake in Jonathan Jawno-led Transaction Capital
PIC's decision reflects a strategic adjustment in response to rising costs and a slow economy, affecting South African businesses like Transaction Capital.
South Africa’s 10 richest billionaires in 2025
From luxury goods to mining and fintech, they shape economic trends and investment flows across Africa and beyond.
South African tycoon Christopher Seabrooke’s stake in Sabvest drops by $6 million
The decline comes as investors on the Johannesburg Stock Exchange (JSE) take profits and adjust their portfolios.
South African tech mogul Jens Montanana buys Datatec shares worth $4.25 million
The move cements his position among the company’s top shareholders and reflects confidence in its future.
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.
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.