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The stake of one of South Africa’s wealthiest businesswomen, Noluthando Gosa, in ArcelorMittal South Africa, is now worth $18.5 million, according to recent data compiled by Billionaires.Africa.
ArcelorMittal South Africa, a Gauteng-based steelmaker and a subsidiary of ArcelorMittal, a Luxembourg-based multinational steel manufacturing firm, is one of Africa’s biggest steel producers, with an annual production capacity of 7 million metric tonnes of liquid steel.
Gosa, a longtime leader of prestigious institutions and a non-executive independent director at ArcelorMittal South Africa, derives the majority of her fortune from a well-diversified investment portfolio that includes a 6.15-percent stake in the Gauteng-based steelmaker.
In addition to her role as a director at ArcelorMittal South Africa, Gosa also sits on the boards of Mobile Telephone Networks Holdings, the Institute of Directors, and the Businesswomen’s Association.
As of press time on Nov. 22, ArcelorMittal’s shares were trading at N4.69 ($0.27) per share, 188 basis points lower than their opening price this week, as investors continue to reduce their holdings in the steelmaker, bringing the year-to-date decline to 47 percent.
As a result of the year-to-date decline in its share price, ArcelorMittal is now the 151st most valuable company on the Johannesburg Stock Exchange, with a market capitalization of R5.34 billion ($308.2 million), accounting for about 0.027 percent of the local exchange’s total market capitalization.
Noluthando Gosa’s 6.15-percent stake in ArcelorMittal is presently valued at R321.58 million ($18.5 million), making her one of the wealthiest investors on the local exchange.
Her stake in the steelmaker is now worth $16.5 million less than it was on Jan. 4, when the group’s share price climbed past R8.8 ($0.51) per share, increasing her holding’s market value to $35 million.
