South Africa’s Sibanye ordered to pay damages over failed $1.2-billion Brazil mines deal
The court's decision comes on the heels of Sibanye’s failed acquisition of Brazilian nickel and copper mines, specifically the Santa Rita and Serrote assets.
Southern Africa
Sanlam completes Assupol deal, boosts lead as Africa's largest insurer
Sanlam's acquisition of Assupol bolsters its footprint in South Africa and Africa, cementing its position as a dominant insurance player.
Absa partners with IFC to launch $50-million trade facility for African farmers
This follows a recent collaboration between Absa and IFC, which resulted in a $60 million trade finance facility for Volcafe, a leading global green coffee merchant.
Mondi to acquire Schumacher packaging assets in $682-million deal, expanding European presence
The addition of Schumacher’s assets will increase Mondi’s capacity to produce fiber-based products, offering more sustainable alternatives to plastic packaging.
Royal Bank of Canada increases stake in South African retailer Clicks
Royal Bank of Canada increases stake in Bertina Engelbrecht-led Clicks Group, solidifying position as major shareholder.
Richemont to divest YNAP to Mytheresa for $609.7 million
This strategic move follows Richemont’s efforts to enhance YNAP's profitability in the fiercely competitive online luxury retail market.
Standard Bank, led by South African banker Sim Tshabalala, strengthens African infrastructure investment efforts
This aligns with plans to unlock opportunities for alternative energy infrastructure on the continent, building on past collaborations.
Strive Masiyiwa, Zimbabwe's richest man, honored with Harvard's top award in African and African American studies
In recent years, Masiyiwa, along with his wife, Tsitsi, has focused on public health challenges, taking a leading role in combating HIV/AIDS, Ebola, malnutrition, and COVID-19.
South African tycoon Terrence Moolman sees $9.2-million increase from Caxton shares
This gain brings his total holdings to nearly $130 million, reinforcing his position as a leading figure in South Africa's media industry.
Africa’s largest asset manager invests $494 million in Neal Froneman-led Sibanye
Sibanye receives a significant boost with a nearly $500-million investment from the South African government's wholly-owned asset management firm.
South African billionaire Michiel Le Roux’s Capitec Bank reports $369.4-million half-year profit
This rise from R4.69 billion ($270.22 million) in the same period last year highlights Capitec Bank’s resilience in a tough global economy.
Botswana tycoon Ramachandran Ottapathu leads Choppies to $12.5-million profit
Choppies' profit for the period reached BWP164 million ($12.5 million), up from BWP150 million ($11.4 million) in the previous fiscal year.
Power Play: Johann Rupert overtakes Aliko Dangote again as Africa’s richest man
South Africa’s Johann Rupert reclaims the title of Africa’s richest individual with a net worth of $14.2 billion, surpassing Nigeria's Aliko Dangote.
TymeBank, backed by Africa’s first Black billionaire Patrice Motsepe, hits 10-million-customer milestone
The bank, backed by Motsepe, has rapidly expanded since its launch in 2019, transforming the financial landscape in South Africa and beyond.
South African tycoon Stephen Brookes gains $2.3 million from Balwin stake in 10 days
Real estate mogul Stephen Brookes, the founder and the largest shareholder of Balwin Properties, owns 36.08 percent of the Johannesburg-based property developer.
Zimbabwean tycoon Zed Koudounaris’ Innscor posts $48.2-million profit in 2024
Innscor Africa reports robust 2024 financial performance driven by robust performances across its primary business lines.