South African billionaire Patrice Motsepe’s fortune jumps to $3.2 billion
According to Forbes estimates, his net worth rose from $3 billion in mid-March to $3.2 billion by late May.
Southern Africa
Stephen Saad’s Aspen stake drops $21 million in value
This mirrors wider investor caution amid challenges facing the global pharmaceutical sector and instability in emerging markets.
Malawi’s richest man sees $89 million decline in FMB Capital stake
The continued slide in the company’s share price on the Malawi Stock Exchange has dragged down his holdings significantly.
Neal Froneman-led Sibanye reports 289 workers trapped in South Africa mine
Details on the cause of the incident remain scarce, but the company is actively conducting safety checks and shaft inspections before hoisting workers to the surface.
Fani Titi-led Investec targets $139 million share buyback
Investec, led by Fani Titi, will repurchase $139 million in shares over 12 months, signaling strong earnings and capital discipline despite global headwinds.
South Africa’s Giovanni Ravazzotti takes $33.6 million loss on Italtile investment
The downturn reflects mounting investor caution regarding the company’s near-term growth prospects amid a challenging economic climate in South Africa.
Shameel Joosub-led Vodacom bets big on contracts beyond mobile
The company’s results for the year ending March 31, 2025, underscore a business in transformation, yet also raise questions about financial transparency and consumer risk.
Patrice Motsepe's Tyme Bank, Sanlam to launch retail credit venture
TymeBank and Sanlam are launching a 50-50 joint venture to expand digital credit access to underserved South Africans through unsecured loans and insurance.
Rupert joins Dangote, Ogunlesi among African billionaires visiting Washington
Johann Rupert, South Africa’s richest man and Richemont chairman, arrived in Washington during tense talks between Trump and President Ramaphosa.
South African pharma tycoon Gus Attridge loses $7 million from Aspen stake
Shares of Aspen Pharmacare plunged 5.44 percent in a week, wiping millions off co-founder Gus Attridge’s stake.
Southern Sun, led by John Copelyn, reports $57 million profit in 2025
The performance was underpinned by higher room occupancy, improved Ebitdar margins, and disciplined cost and capital management.
Sasol CEO, Simon Baloyi signals chemical unit listing before 2030
The division, anchored by a $12.8 billion Lake Charles Chemicals Project in Louisiana, is expected to contribute up to $1 billion annually to Sasol’s earnings by 2030.
Christopher Seabrooke loses more than $4 million on Sabvest shares
Seabrooke, the largest individual shareholder in Sabvest, owns around 16 million shares in the Sandton-based investment holding company.
South African tech tycoon Zak Calisto’s Karooooo stake tops $1 billion
Investors have been responding positively to the firm’s recent earnings and steady growth, particularly in its core subscription business.
South Africa’s biggest food producer to sell canned fruit business for one rand
This is part of the company’s ongoing efforts to streamline its operations and concentrate on its core business in the local market.
Malagasy tycoon Hassanein Hiridjee's AXIAN Energy gets $5 million for renewable projects
The funding will help several solar and hydroelectric projects across Africa, many of which have stalled due to a lack of early-stage financing, move beyond the planning phase.