Capitec Bank shares slump costs South African billionaire Michiel Le Roux $76 million
The recent slump in his fortune follows the $60-million gain recorded on April 4, when his stake in Capitec Bank soared from $1.48 billion to $1.54 billion.
Southern Africa
Sibanye mulls $500-million metals streaming deal under South African tycoon Neal Froneman
Froneman underscored the importance of fortifying liquidity buffers to mitigate potential downturns. He explicitly ruled out equity issuance as a means of capital procurement.
Standard Bank, led by South African banker Sim Tshabalala, seeks banking license in Egypt
Standard Bank’s push into Egypt, a nation of more than 100 million people, follows its strong 2023 financial performance, with headline earnings surging to $2.3 billion.
South African tycoon Jonathan Jawno gains $7.9 million from Transaction Capital stake
This recent uptick follows a period of steady gains for Jawno, during which his holdings in Transaction Capital rose by $7.7 million between Feb. 12 and March 18.
Zimbabwean exec Ralph Mupita-led MTN set to invest $102 million to tackle South Africa’s blackouts
Mupita emphasized the critical nature of the situation, describing the power outages as a “crisis” further compounded by vandalism of mobile phone towers and base stations.
South Africa’s Ackerman family gains $18.5 million from Pick ‘n Pay stake
This surge solidifies the Ackerman family’s position as one of the wealthiest investors on the JSE.
Discovery Health, linked to South African tycoon Adrian Gore, distributes over $32 million via wellness fund
With more than $32 million distributed to more than 485,000 medical aid members, the initiative underscores Discovery’s commitment to enhancing healthcare accessibility.
Christo Wiese-backed Shoprite joins retailers investing $125 million in startups every five years
Shoprite Holdings is partially owned by South African billionaire Christo Wiese, who holds an 11.63-percent stake in the retailer.
Backed by Africa’s first Black billionaire Patrice Motsepe, Sanlam to acquire stake in Indian insurer
Sanlam’s interest in SGIC is set to rise from 40 percent to 51 percent, and in SLIC from 42 percent to 54 percent.
Zimbabwe’s richest man Strive Masiyiwa’s company set to trade in new currency
Masiyiwa is Zimbabwe’s wealthiest businessman and a prominent figure among the world’s Black billionaires with an estimated net worth of $1.8 billion.
South African tycoon Giovanni Ravazzotti suffers $16.8-million loss from Italtile stake
Despite the loss, Ravazzotti retains his position as one of the wealthiest investors on the JSE and one of South Africa’s most prosperous businessmen.
South African mining mogul Neal Froneman’s Sibanye stake hits $10.5 million
This surge in his fortune cements Froneman’s position as a key figure in South Africa’s mining sector.
Discovery shares plunge, costing South African tycoon Adrian Gore $43.2 million
Despite the recent decline, Gore remains a top figure on the JSE.
Africa’s first Black billionaire Patrice Motsepe loses $100 million in six weeks
The decline is a significant blow to Motsepe’s wealth, as his holding in ARM represents a substantial portion of his net worth.
Namibian tycoon Quinton van Rooyen’s Trustco to postpone $61.7-million loan repayment
Trustco is primarily owned and managed by the Namibian van Rooyen family, which holds a substantial 63.94-percent ownership stake, or 1,004,000,060 ordinary shares.
South African billionaire Christo Wiese’s Shoprite employee trust pays out $27 million in two years
Established in May 2022, the SET is a non-vesting, perpetual trust funded with 40 million Shoprite Checkers shares valued at R8.9 billion ($478.07 million).