Titan Fincap settles $63.1-million loan with Shoprite shares acquisition
The purchase, finalized on Oct. 7, 2024, concludes a scrip loan agreement that allowed Titan Fincap to borrow 3,831,164 shares of Shoprite on Oct. 12, 2023.
The purchase, finalized on Oct. 7, 2024, concludes a scrip loan agreement that allowed Titan Fincap to borrow 3,831,164 shares of Shoprite on Oct. 12, 2023.
Froneman, who serves as Sibanye’s CEO, holds a 0.12-percent stake in the Johannesburg-based mining giant, amounting to 3,284,428 shares.
This was fueled by disciplined cost management across the group’s business clusters, solidifying its standing as one of the largest and most profitable conglomerates in Mauritius.
This figure is expected to increase by the first quarter of 2025, with the company aiming to resolve its ongoing crude supply issues.
This partnership is aimed at bolstering Kenya's power infrastructure and underscores Adani's expanding presence in Africa.
The rise in the El-Sewedy brothers' fortunes is attributed to an 80.6-percent increase in Elsewedy Electric's share price.
The court's decision comes on the heels of Sibanye’s failed acquisition of Brazilian nickel and copper mines, specifically the Santa Rita and Serrote assets.
Sanlam's acquisition of Assupol bolsters its footprint in South Africa and Africa, cementing its position as a dominant insurance player.
Total assets rose 21 percent to N221.09 billion ($136.4 million), reflecting strong growth and strategic investments under billionaire Femi Otedola's leadership.
This follows an $18.27-million loss between July 18 and Aug. 15, when the market value of their holdings declined from $207.2 million to $188.93 million.
Dangote Oil Refinery secures an exclusive deal to supply jet fuel to all Nigerian airlines, stabilizing the aviation sector and marking a major step toward energy self-sufficiency.
Absa Bank has appointed South African executive Charles Russon as interim CEO, ensuring stability as the search for a permanent successor begins following the retirement of Arrie Rautenbach
Espitalier-Noel’s ENL Limited posts a 24-percent profit increase, reaching $2.4 million, driven by successful diversification in key sectors like hospitality, real estate, and commerce.
Nigerian mogul Wale Tinubu's Oando Plc has been shortlisted as one of three final contenders to acquire Trinidad and Tobago's $15-billion Petrotrin refinery, marking a potential major expansion into the Caribbean energy market
This follows a recent collaboration between Absa and IFC, which resulted in a $60 million trade finance facility for Volcafe, a leading global green coffee merchant.
This move is seen as a critical step to accelerate Raya's growth trajectory and enhance its operational capabilities.