South African businesswoman Noluthando Gosa has seen the market value of her stake in the leading steelmaker ArcelorMittal South Africa rise by R104.22 million ($6.69 million) in the first week of 2022.
Gosa is a leading business executive and the founder and CEO of Akhona Group, a 100-percent Black privately held investment holding founded in 2013. She controls a beneficial 6.15-percent stake in ArcelorMittal South Africa, a Gauteng-based steelmaker with a production capacity of 7 million tonnes of liquid steel per year.
Aside from her business interests in Akhona Group and ArcelorMittal South Africa, Gosa is the co-founder of Likamva Resources, a South Africa-based investment holding with active operations and investments in the country’s mining industry.
The multimillion-dollar surge in the market value of her stake in the first week of 2022 can be linked to a double-digit percentage rise in the company’s stock price, as investors scrambled to take up shares in the steelmaker.
Shares in the leading steel producer closed at a price of R10.4 ($0.667) on Fri., Jan. 7, 97-basis points higher than their opening price on the local bourse.
Since the start of the new year, ArcelorMittal’s stock price on the Johannesburg Stock Exchange has increased from R8.88 ($0.5697) per share at the opening of the market on Jan. 3 to R10.4 ($0.6672) at the time of writing.
This led to total gains of 17.12 percent for shareholders since the year began.
As a result of the surge in the share price of the leading steelmaker, Gosa’s 6.15-percent stake rose from a valuation of R608.87 million ($39.06 million) to R713.09 million ($45.75 million).
This translates to a R104.22-million ($6.69 million) gain for the multimillionaire businesswoman in the first week of 2022.
In the past year, the market value of her stake surged astronomically by more than $41 million thanks to a bullish buying interest in the company’s shares by investors throughout 2021.
In April 2021, Gosa resigned as a director of the Southern Africa-Canada Chamber of Commerce, a business organization dedicated to promoting and developing business opportunities between countries in Southern Africa and Canada.
