South African billionaire Michiel Le Roux’s stake in Capitec hits $1.5 billion
The recent surge in the lender’s share price comes on the heels of its recent acquisition of a majority stake in Cyprus-based digital non-bank consumer lender, Avafin
South Africa
South African tycoon Johann du Toit’s satellite tech firm secures $14.7-million investment
The funding, led by NewSpace Capital and Knife Capital, aims to enhance production capabilities as the company gears up for an expansion into Europe.
South African-born tycoon Barry Stuhler rakes in $3.79 million from Lighthouse stake
This $3.79-million gain further solidifies Stuhler’s position as one of the top investors on the JSE and one of the wealthiest businessmen in the country.
South African businessman Jannie Mouton gains $33 million from Capitec stake
This significant rise in Mouton’s stake reinforces his standing as one of the most affluent investors on the Johannesburg Stock Exchange
South African exec Arrie Rautenbach guides Absa Group to record $5.3-billion revenue in 2023
Absa Group, a Johannesburg-based diversified financial services provider led by South African banking executive Arrie Rautenbach, achieved a significant milestone in its…
South Africa’s second-richest man Nicky Oppenheimer gains $200 million in 12 days
With his current fortune of $10.5 billion, Oppenheimer claims the 229th spot on the global list of the wealthiest individuals.
South African tycoon Laurie Dippenaar’s FirstRand stake slumps below $340 million
FirstRand’s shares decline by 3.69 percent, market cap dips below the $20-billion mark.
South African tycoon Gerrie Fourie gains $8.6 million in 65 days
Fourie’s stake in Capitec Bank has risen by R2.16 billion ($8.63 million) over the past 65 days, solidifying his position among South Africa’s top executives.
Africa’s first Black billionaire Patrice Motsepe’s ARM reports $157.8 million in earnings
Headline earnings plummeted by 43 percent, falling from R5.17 billion ($275.5 million) in the first half of 2023 to R2.96 billion ($157.8 million) in the same period of 2024.
South African exec Neal Froneman views Sibanye-Stillwater’s rights offer as a last resort
Speaking at the group’s annual results presentation, Froneman stressed that such an offer would be a last resort measure.
South African billionaire Patrice Motsepe-backed Sanlam posts $73-million profit in 2023
Sanlam CEO Paul Hanratty, a notable figure in South Africa’s business landscape, lauded the company’s robust delivery in the face of extraordinary challenges during the past fiscal year.
South African exec Shameel Joosub-led Vodacom launches digital skills initiative to combat youth unemployment
The initiative aims to provide free access to digital training courses through the newly unveiled Mzansi Digital Learning platform.
Led by South African Ackerman family, Pick ‘n Pay set to liquidate Baladakis Stores
As the legal battle unfolds, the retail industry watches closely to see the implications and outcomes of Pick ‘n Pay’s unprecedented move to liquidate a major franchisee in its extensive network.
South African billionaire Saltzman Family gains $41 million from Dis-Chem shares
Thanks to the recent upswing in Dis-Chem’s shares, the Saltzman family’s stake in Dis-Chem has surged by R776.36 million ($41.42 million) since Feb. 19.
South African tycoon Neal Froneman-led Sibanye posts $2-billion loss
The poor financial performance comes on the heels of Sibanye’s aggressive acquisition strategy.
South African executive Simon Crutchley guides AVI to $65 million half-year earnings
Simon Crutchley, who has served as CEO of AVI Limited since 2005, has played a pivotal role in steering the company towards sustained growth and success.