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.
Southern Africa
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.
Digital bank backed by Africa’s first Black billionaire Patrice Motsepe eyes $1-billion valuation
TymeBank, controlled by Motsepe, expects to complete a $150-million funding round by the fourth quarter.
Natie Kirsh, Eswatini’s richest man, loses $110 million in less than a week
Earlier this month, Kirsh’s fortune saw a substantial increase of $270 million, rising from $8.41 billion on June 1 to $8.68 billion by June 7.
Capitec Bank share decline costs South African billionaire Michiel Le Roux $31 million
This follows a $112.3 million loss between May 20 and June 3.
South African real estate tycoon Stephen Brookes faces major market losses
This loss compounds the $2 million loss recorded between March 20 and April 3, when his stake dipped from $17.34 million to $15.33 million.
Firm backed by South Africa’s second-richest man prepares third fund for African tech startups
4DI Capital backed by South Africa’s second-richest man Nicky Oppenheimer has established itself as a prominent venture capital player in Southern and Eastern Africa.
South African top-performing executive Paul Hanratty extends term as Sanlam CEO until 2027
Hanratty extends his term as Sanlam CEO until 2027, continuing to drive the company’s global expansion and strategic growth with significant contributions to financial performance.
South Africa’s richest man Johann Rupert makes $500 million in just 10 days
This solidifies his position as South Africa’s richest man and Africa’s second-wealthiest individual.
South African tycoon Laurie Dippenaar loses $32 million in FirstRand stake in 17 days
This decline is primarily attributed to local investors reducing their holdings in the renowned Johannesburg-based financial services provider.
Absa led by South Africa executive Arrie Rautenbach seals deal with French giant Renault
The collaboration introduces Renault Financial Services, a new financing and services platform designed for Renault customers.