Southern Africa
Luxury online retailer, linked to South Africa’s richest man, to exit Chinese market
The decision to exit China underscores the increasing pressures faced by luxury retailers in the world’s second-largest economy.
Africa’s first female billionaire Isabel dos Santos fights $734-million asset freeze
The legal battle continues as dos Santos seeks to overturn the freezing order and address the charges against her.
South African tycoon Tshepo Mahloele’s Capitec stake rebounds above $1 billion
This cements Tshepo Mahloele’s position as a prominent investor on the JSE and a leading figure in South African banking.
FirstRand stake of South African tycoon Laurie Dippenaar nears $400 million
Laurie Dippenaar currently holds a 1.76-percent stake in FirstRand, amounting to 98,726,988 shares, making him one of South Africa’s leading investors.
Johann Rupert loses $300 million as Richemont shares slide
The recent $300 million decline in Johann Rupert’s wealth is tied to the performance of his 10.18 percent stake in Richemont.
Sim Tshabalala-led Standard Bank to fund $5-billion East Africa pipeline project
As global scrutiny intensifies over fossil fuel projects, Standard Bank’s decision to support EACOP is set to influence the trajectory of similar ventures across the continent.
South African tech entrepreneur Zak Calisto eyes billion-dollar fortune
Year-to-date, Karooooo shares are up 48.27%, offering substantial returns to shareholders, exemplifying robust market performance.
Strive Masiyiwa’s firm becomes Africa’s first Google Cloud Interconnect provider
This milestone, driven by its strategic partnership with Google Cloud services, enables Liquid C2 to deliver direct, high-speed access to Google Cloud
South African tycoon Adrian Gore makes $32 million from Discovery stake
This uptick follows a period of steady gains for Gore, with his Discovery stake growing by $22 million between May 15 and 29.
Namibian tycoon Quinton van Rooyen’s Trustco converts $238-million debt to equity
The financial maneuver follows Trustco’s announcement of a new loan agreement that obviates the necessity for a previously issued cautionary statement.