Giovanni Ravazzotti’s stake in Italtile nears $570 million as shares surge
Italtile’s market surge boosts Ravazzotti’s net worth by $24.82 million in just 15 days.
South Africa
Vodacom posts $4.1-billion revenue in H1 2024
Despite this growth, profitability faced challenges due to currency fluctuations in key markets such as Egypt and Ethiopia, which put pressure on service revenue.
Sibanye-Stillwater secures wage deal with South African gold workers
The deal, announced on Monday, concludes negotiations that began on July 1, 2024, with labor unions representing workers at the Beatrix, Driefontein, and Kloof mines.
Investec targets $1.7-billion market expansion
Investec is positioning itself for a $1.7-billion market expansion by enhancing its business banking unit with a new payments system for corporate clients.
Jannie Mouton's Capitec Bank stake hits $1-billion milestone
Over the past 12 weeks, Mouton’s stake has increased by R3.02 billion ($173.13 million), rising above the $1-billion mark.
Karooooo shares drop, leading to $107-million loss for Zak Calisto
South African tech mogul Zak Calisto faces wealth decline amid Karooooo share drop.
Nicky Oppenheimer’s wealth jumps $1.5 billion
This boost solidifies his position as the second-richest person in South Africa and the 227th richest individual globally.
Transaction Capital sells non-core assets in $28.8-million deal
The divestiture, finalized on Nov. 1, is part of Transaction Capital's strategy to streamline operations and focus on core business areas.
Gus Attridge’s stake in Africa’s largest pharma company drops by $16.5 million
South African pharma mogul Gus Attridge loses $16.5 million from stake in Africa’s largest pharmaceutical company.
Sibanye-Stillwater gains momentum as U.S. regulation boosts Montana PGM operations
Sibanye-Stillwater’s Montana PGM operations will gain from new Section 45X regulations under the U.S. Inflation Reduction Act (IRA), ensuring vital funding for palladium and platinum mining.
Capitec restricts crypto transfers, pushes pricier Capitec Pay as fraud measure
Capitec Bank has blocked electronic funds transfers to cryptocurrency exchanges, urging clients to use its costlier Capitec Pay service instead, citing fraud prevention.
Vodacom faces regulatory setback in $790-million Maziv acquisition
Vodacom's Maziv deal blocked by Competition Tribunal. Regulatory hurdles stifle expansion plans.
Pick 'n Pay announces exit from Nigeria amid financial losses
South African retailer offloads stake amid challenging market conditions.
Harmony Gold records $3.47 billion in revenue at close of fiscal year 2024
The Johannesburg-based miner attributed this growth to increased gold sales and a favorable pricing environment.
Dis-Chem, led by Ivan Saltzman, eyes disruption of South African life insurance market with new venture
Dis-Chem, under the leadership of Ivan Saltzman, plans a disruptive entry into South Africa’s life insurance market, challenging Discovery Life with data-driven, cost-efficient offerings.
ArcelorMittal SA rejects $1-billion acquisition bid from Networth Investments
The rejected offer aimed to secure a controlling stake in the company, with ArcelorMittal reaffirming its commitment to operational independence amid ongoing ownership discussions.