Richemont to divest YNAP to Mytheresa for $609.7 million
This strategic move follows Richemont’s efforts to enhance YNAP's profitability in the fiercely competitive online luxury retail market.
Southern Africa
Standard Bank, led by South African banker Sim Tshabalala, strengthens African infrastructure investment efforts
This aligns with plans to unlock opportunities for alternative energy infrastructure on the continent, building on past collaborations.
Strive Masiyiwa, Zimbabwe's richest man, honored with Harvard's top award in African and African American studies
In recent years, Masiyiwa, along with his wife, Tsitsi, has focused on public health challenges, taking a leading role in combating HIV/AIDS, Ebola, malnutrition, and COVID-19.
South African tycoon Terrence Moolman sees $9.2-million increase from Caxton shares
This gain brings his total holdings to nearly $130 million, reinforcing his position as a leading figure in South Africa's media industry.
Africa’s largest asset manager invests $494 million in Neal Froneman-led Sibanye
Sibanye receives a significant boost with a nearly $500-million investment from the South African government's wholly-owned asset management firm.
South African billionaire Michiel Le Roux’s Capitec Bank reports $369.4-million half-year profit
This rise from R4.69 billion ($270.22 million) in the same period last year highlights Capitec Bank’s resilience in a tough global economy.
Botswana tycoon Ramachandran Ottapathu leads Choppies to $12.5-million profit
Choppies' profit for the period reached BWP164 million ($12.5 million), up from BWP150 million ($11.4 million) in the previous fiscal year.
Power Play: Johann Rupert overtakes Aliko Dangote again as Africa’s richest man
South Africa’s Johann Rupert reclaims the title of Africa’s richest individual with a net worth of $14.2 billion, surpassing Nigeria's Aliko Dangote.
TymeBank, backed by Africa’s first Black billionaire Patrice Motsepe, hits 10-million-customer milestone
The bank, backed by Motsepe, has rapidly expanded since its launch in 2019, transforming the financial landscape in South Africa and beyond.
South African tycoon Stephen Brookes gains $2.3 million from Balwin stake in 10 days
Real estate mogul Stephen Brookes, the founder and the largest shareholder of Balwin Properties, owns 36.08 percent of the Johannesburg-based property developer.
Zimbabwean tycoon Zed Koudounaris’ Innscor posts $48.2-million profit in 2024
Innscor Africa reports robust 2024 financial performance driven by robust performances across its primary business lines.
South African executive John Copelyn-led Southern Sun plans $58.3-million revitalization investment
The redevelopment initiative includes extensive renovations not only for the Elangeni and Maharani hotels but also for other Southern Sun-managed properties nearby.
South African tycoon Giovanni Ravazzotti’s Italtile stake nears $330 million
Ravazzotti’s stake in Italtile nears $330 million thanks to a $21.9-million gain in 14 days.
Prosus, linked to South African billionaire Koos Bekker, offloads $743 million worth of Trip.com shares
Prosus N.V. has grown into a leading global consumer Internet group. The transaction gives Prosus liquidity to focus on higher-growth areas in its portfolio.
Aspen’s 20-percent stock decline costs South African tycoon Stephen Saad nearly $160 million
Saad's wealth drops by nearly $160 million after Aspen Pharmacare's shares tumble 20.17 percent over the past 25 days on the JSE.
South African tycoon Andre du Plessis sees Capitec Bank stake rise above $160 million
Du Plessis’ stake in Capitec Bank now above $160 million, thanks to $10.49-million gain in 18 days.