South African-born billionaire Patrick Soon-Shiong gains $800 million in 29 days
The recent surge in Soon-Shiong’s fortune is largely fueled by the notable increase in the market value of his 76-percent stake in ImmunityBio.
Southern Africa
South African executive Pieter Engelbrecht leads Shoprite to $6.3 billion in half-year sales
Since taking the helm in January 2017, Engelbrecht has continued to enhance the legacy established by his predecessor, Whitey Basson.
South African tycoon Stephen Saad’s investment in Aspen surpasses $620 million
According to data compiled by Billionaires.Africa, the market value of Saad’s stake in Aspen has increased by $52.4 million to $623.6 million.
South African billionaire Koos Bekker loses $34.4 million from Naspers stake
Bekker, a top figure in South Africa’s business landscape, is credited with transforming Naspers from a newspaper publisher into a top player in e-commerce and cable TV.
Backed by South Africa’s richest man, RCL to unbundle and list Rainbow Chicken
RCL Foods is 77-percent owned by Remgro, an investment holding company controlled by South Africa’s richest man Johann Rupert.
Ralph Mupita-led MTN Group expects profits to plunge by up to 90% due to naira devaluations
MTN Group under Ralph Mupita has solidified its position as Africa’s leading telecom service provider, with a customer base exceeding 292 million across 19 markets.
South Africa’s Ackerman family loses nearly $50 million as Pick ‘n Pay shares plunge 26%
The recent decline in Pick ‘n Pay shares has led to a reduction in the market value of the Ackerman family’s stake by R906.4 million ($47.43 million) over the last 15 days
South African tycoon Des de Beer’s REIT completes $185-million acquisition of Spanish retail complex
Resilient REIT, led by South African tycoon, seals $185.3-million acquisition of Salera Centro Comercial in Spain.
Ralph Mupita-led MTN Group partners with Ericsson to elevate core network infrastructure
Under the leadership of Mupita, MTN Group has cemented its status as Africa’s leading telecom service provider.
South African billionaire Christo Wiese positive on Nigeria, predicts investors’ return
Wiese emphasized that the current withdrawal of foreign investors, including those from South Africa, is a temporary phenomenon.
Glencore-led by South African exec Gary Nagle eyes Shell’s assets in Singapore
In a strategic move to bolster its presence in the Asian market, Glencore is actively pursuing the acquisition of Shell’s assets situated on Pulau Bukom island.
Noluthando Gosa’s Akhona Group explores stake purchase in Bidvest’s logistics division
Gosa leads Akhona Strategic Investments in acquiring a significant stake in Bidvest International Logistics.
South Africa’s second-richest man Nicky Oppenheimer gains $300 million in February
The surge in Oppenheimer’s wealth, which now totals $450 million year-to-date, can be attributed to a significant boost in the valuation of his diverse investments.
Kennedy Bungane-led African Bank’s newly acquired unit faces $255-million lawsuit
In response, Sasfin expresses disappointment, pledging cooperation with Sars and commitment to tax compliance.
Led by South Africa exec Roy Bagattini, Woolworths posts $107 million in half-year revenue
Despite the impressive revenue growth, Woolworths encountered supply chain disruptions that impacted sales during the 26-week period.
Strive Masiyiwa’s telecom unit in Lesotho rolls out 5G technology
With the latest development, Econet Lesotho has become the second mobile operator in the country to deploy 5G, marking a significant stride in Lesotho’s telecom sector.