Luxury online retailer, linked to South Africa’s richest man, to exit Chinese market
The decision to exit China underscores the increasing pressures faced by luxury retailers in the world’s second-largest economy.
Africa’s first female billionaire Isabel dos Santos fights $734-million asset freeze
The legal battle continues as dos Santos seeks to overturn the freezing order and address the charges against her.
Johann Rupert loses $300 million as Richemont shares slide
The recent $300 million decline in Johann Rupert’s wealth is tied to the performance of his 10.18 percent stake in Richemont.
South African tech entrepreneur Zak Calisto eyes billion-dollar fortune
Year-to-date, Karooooo shares are up 48.27%, offering substantial returns to shareholders, exemplifying robust market performance.
Elon Musk’s Starlink reaches 100th country milestone with Sierra Leone launch
This comes a year after Starlink secured approval to operate in Sierra Leone, becoming the fifth African country to grant it an operational license.
Digital bank backed by Africa’s first Black billionaire Patrice Motsepe eyes $1-billion valuation
TymeBank, controlled by Motsepe, expects to complete a $150-million funding round by the fourth quarter.
Natie Kirsh, Eswatini’s richest man, loses $110 million in less than a week
Earlier this month, Kirsh’s fortune saw a substantial increase of $270 million, rising from $8.41 billion on June 1 to $8.68 billion by June 7.
Capitec Bank share decline costs South African billionaire Michiel Le Roux $31 million
This follows a $112.3 million loss between May 20 and June 3.
Nigerian billionaire Femi Otedola’s energy firm targets $28.2-million revenue in Q3 2024
Geregu Power’s impressive forecast is bolstered by its plans to expand total capacity from 435MW to 1,200MW.
Nigerian banker Aigboje Aig-Imoukhuede-led Access Holdings acquires Tanzanian bank
With the recent entry into Tanzania, Access Holdings targets local, regional, and international revenue opportunities across within the East African region.
Tiger Woods earns $67.2 million, ranking among highest-paid athletes in 2024
The majority of his earnings, totaling $55 million, came from off-field activities such as businesses, endorsement deals, appearances, memorabilia, and licensing.