Zimbabwean tycoon Zed Koudounaris’ Innscor opens $30 million Bakers Inn unit
The $30-million Bakers Inn unit boasts cutting-edge technology capable of producing roughly 160,000 loaves daily, marking a leap in domestic bread production capacity.
Southern Africa
South African billionaire Christo Wiese’s Shoprite stake nears $1 billion again
South African billionaire Christo Wiese has seen the value of his stake in Shoprite Holdings, Africa’s largest grocer, surge over the past…
South African-born billionaire Patrick Soon-Shiong makes $1.8 billion in just 26 days
Soon-Shiong’s stake in ImmunityBio has grown by $1.37 billion, from $2.51 billion to $3.88 billion since late April.
Companies linked to Africa’s first Black billionaire donate $1.2 million to South African parties
Recent disclosures reveal that companies linked to Motsepe donated heavily across the political spectrum in the first quarter of 2024.
South African billionaire Ivan Glasenberg’s net worth jumps $640 million
The recent surge in Glasenberg’s fortune translates to an average daily gain of $37.6 million since May 1.
South African billionaire Christo Wiese-linked Shoprite expands on-demand delivery service
Shoprite Holdings, Africa’s largest supermarket chain with over 3,543 stores, counts billionaire Christo Wiese as a major shareholder. His 11.63-percent stake is valued at nearly $1 billion.
South African tycoon Laurie Dippenaar gains $22.2 million in FirstRand surge
This significant gain further cements his position as one of South Africa’s wealthiest businessmen.
Led by South African executive Gary Nagle, Glencore sells Volcan stake for $20 million
Glencore’s exit from Volcan serves as a cautionary tale for investors in the mining sector.
South Africa’s richest man Johann Rupert’s Richemont sales hit $22.4 billion
Richemont’s impressive sales results ignited a surge in its share price, jumping 5.9 percent from CHF137.25 ($150.913) on May 16 to CHF145.35 ($159.815) at the time of writing.
Ronnie Apteker: Accidental entrepreneur who launched South Africa’s first Internet service provider
Prescient about the coming tech boom, he entered the industry when most Africans were unfamiliar with computers.
South African tycoon Zak Calisto’s Karooooo reports $230 million in revenue
Under Calisto’s leadership, the company has become a leading provider of intelligent transportation management and analytics.
Discovery stake dips, South African tycoon Barry Swartzberg sees $7.9-million loss
Despite this setback, Swartzberg remains one of South Africa’s wealthiest businessmen and a leading investor on the JSE.
South African billionaire Michiel Le Roux loses $34.5 million from Capitec Bank stake
This recent slump compounds a previous loss of $76 million recorded between April 8 and 11, when the market value of his stake in Capitec Bank fell below $1.5 billion.
Arrie Rautenbach-led Absa inks deal to boost East Africa’s coffee trade with $60 million facility
The facility aims to bolster Volcafe’s operations in East Africa, consequently supporting tens of thousands of coffee farmers in the region.
South African tycoon Jens Montanana loses $2.6 million from Datatec stake
This recent dip comes on the heels of previous losses recorded between April 17 and 27, when Montanana’s shares in the company fell by $2.4 million
Swiss bank sells $11.8-million stake in South African tycoon Neal Froneman-led Sibanye-Stillwater
UBS disposed of R216.17 million ($11.8 million) in shares on Sept. 26, 2023, trimming its holding from 5.07 percent to 3.26 percent.