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.
Southern Africa
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.
South African tycoon Adrian Gore’s Discovery gets green light for $81.6-million bond listing
The two newly issued bonds, detailed in filings with the JSE on May 14, have nominal values of R576 million ($31.33 million) and R924 million ($50.26 million).
French billionaire’s firm buys additional $47.63-million stake in DStv parent, MultiChoice
Vivendi, partly owned by Bollore Group, is using its subsidiary Canal+ to steadily increase its stake in MultiChoice.
South African tycoon Andre du Plessis’ Capitec Bank stake tops $110 million
The surge in Capitec Bank’s share price has propelled the market value of du Plessis’ stake up by $15.53 million over the past 27 days.
Tunisian tycoon Moncef Sellami loses $3.5 million from OneTech stake
Despite this setback, Sellami remains one of the wealthiest investors on the local stock exchange and maintains a prominent position among the wealthiest individuals in the country.
MTN’s service revenue dips by $539 million under Zimbabwean executive Ralph Mupita
Mupita attributed the decline to a challenging macroeconomic environment exacerbated by global geopolitical tensions.
South African tycoon Adrian Gore’s Discovery stake slumps by $14 million
Despite the recent plunge, Gore remains a prominent figure on the JSE and one of South Africa’s wealthiest businessmen.
South Africa’s second-richest man Nicky Oppenheimer gains $400 million in 10 days
Oppenheimer climbs to 224th spot on the global rich list, remains South Africa’s second-richest man.