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The 10 South African golfers with the highest earnings

Golf has found a place to stay on the African continent, with South Africa taking the lead.

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South African golfer Louis Oosthuizen.

Golf has found a place to stay on the African continent.

This goes for Southern Africa in particular, owing to South Africa’s economic diversity and its position as the continent’s most industrialized economy. South Africa alone has 10 golfers who now rank among the top 100 internationally, coming in behind the United States, with 46, and the United Kingdom, with 11. 

In the 103rd PGA Championship in May 2021, South Africa had a total of 11 entrants in the championship tour, with Erik Van Rooyen making it to the top five in the competition.

In a recent report, Forbes named South Africa’s top golfers in terms of earnings from the European Tour and U.S. PGA Championship. 

The report showed that the top-10 golfers in the country have earned a career total of $134.7 million, with 64.5 percent of their earnings coming from the European Tour.

Here is a list of their career earnings so far: 

#1 Louis Oosthuizen

Career Earnings: $52.4 million

Louis Oosthuize, a top-ranked golfer in South Africa, earned $52.4 million from the PGA Championship and European Tour.

A breakdown of his earnings indicates that he earned $26.2 million from the PGA Championship and another $26.2 million from the European Tour, making him the most successful in terms of earnings.

Forbes noted that despite his eye-watering earnings, the Mossel Bay-born player has never won on the PGA Championship, losing three times in a playoff. However, he did win The British Open in 2010.

#2 Branden Grace

Career Earnings: $27.8 million

Grace, who has consistently been a top player for years, has received total earnings of $27.8 million from the PGA Championship and European Tour.

His career earnings are split into $11.1 million earned from PGA Championship and $16.7 million from the European Tour.

In 2016, Grace won the 2016 Puerto Rico Open. In 2020, he won the South African Open. He tied for seventh at the U.S. Open this year.

#3 Charl Schwartzel

Career Earnings: $22.3 million

Charl Schwartzel, whose major triumph came in the United States when he lifted the Masters trophy in 2011, has total earnings of $22.3 million from the PGA Championship and European Tour.

The breakdown of his earnings shows that he earned a total of $1.6 million from the PGA Championship and $20.7 million from the European Tour.

#4 Dylan Frittelli

Career Earnings: $7.9 million

According to Forbes, Dylan Frittelli has total earnings of $7.9 million from the PGA Championship and European Tour.

The breakdown of his earnings shows that he earned $4.5 million from the PGA Championship and another $3.4 million from the European Tour.

Frittelli’s PGA Championship win came at the John Deere Classic in 2019, following successes on the European Tour in the Lyoness Open in Austria and the Mauritius Open.

#5 Erik Van Rooyen

Career Earnings: $6.9 million

Forbes revealed that Erik Van Rooyen’s total earnings from the PGA Championship and European Tour are $6.9 million.

He earned $1.6 million from the PGA Championship and another $5.3 million from the European Tour.

Van Rooyen is one of the most consistent contemporary golfers in South Africa. He finished fifth in the 103rd PGA Championship in May. He finished eighth at the 2019 PGA Championship.

#6 Brandon Stone

Career Earnings: $5.3 million

Brandon Stone, who has three wins in total on the European Tour, boasts total earnings of $5.3 million from the PGA Championship and European Tour.

According to Forbes, his PGA Championship earnings are $295,257 million, while his total European Tour earnings are $5.0 million.

#7 Christiaan Bezuidenhout

Career Earnings: $5.1 million

Christiaan Bezuidenhout has won three European Tour events between June 2019 and December 2020. He earned $5.1 million from the PGA Championship and European Tour.

An analysis of his earnings revealed that he earned $974,600 million from the PGA Championship and $4.1 million from the European Tour.

#8 Dean Burmester

Career Earnings: $4.0 million

Dean Burmester has earned $4.0 million in total from the PGA Championship and European Tour.

A breakdown of his earnings indicates that he earned $46.800 from the PGA Championship and another $3.9 million from the European Tour.

#9 Garrick Higgo

Career Earnings: $2.4 million

Garrick Higgo has earned $2.4 million in total from the PGA Championship and European Tour.

He received $1.3 million in total from the PGA Championship and another $1.1 million from the European Tour.

#10 Daniel Van Tonder 

Career Earnings: $600,000

Daniel Van Tonder has received $31,300 from the PGA Championship and another $562,000 from the European Tour.

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South African tech tycoon Zak Calisto gains $166 million in four weeks

Calisto is one of Africa’s richest tech entrepreneurs.

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South African tech tycoon Zak Calisto.

As the frenzy returns to equity markets, shares in Karooooo Limited have risen recently by double digits due to sustained buying interest as investors bet on tech stocks trading at all-time lows.

Karooooo Limited is a mobility platform led by South African businessman Zak Calisto.

As a result of the recent market surge, the value of Calisto’s 74.7-percent stake in Karooooo has increased by $166 million in the past 27 days to well above $640 million.

Calisto, who founded Karooooo and grew it into an international provider of smart transportation management solutions, is one of South Africa’s wealthiest men and one of Africa’s richest tech entrepreneurs.

As of press time on Aug. 10, the company’s shares were trading at $27.85 per share, up from their opening price of $26.98 per share earlier this week. The Singapore-based mobility platform’s market capitalization is presently $860 million.

The company’s shares have increased from a price of $20.65 to $27.85 at the time of writing this report, representing a 34.87-percent gain for patient investors since July 14.

The market value of Calisto’s shareholding in Karooooo has increased from $477.6 million on July 14 to $644.1 million at the time of writing, representing a $166-million gain for the tech tycoon.

The renewed buying interest in Karooooo’s shares can be attributed to investor reactions to the company’s double-digit increase in earnings in the first quarter of its 2023 fiscal year.

According to its recently published first quarter results, the Singapore-based global mobility SaaS platform’s profit increased by 44 percent to R156 million ($9.37 million), up from R108 million ($6.48 million) in the first quarter of 2022.

Earnings increased by double digits due to the higher revenue generated during the period, as the company’s total subscriber base surpassed 1.5 million, up from less than 1.4 million a year ago.

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Abu Dhabi-based Chimera acquires controlling stake in financial services provider linked to Egypt’s richest family

It is unclear how much of the 59.22 percent stake held by Orascom Financial Holding, a firm led by the billionaire Sawiris family, was acquired during the transaction.

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Egyptian billionaire Naguib Sawiris

Chimera Investment, an Abu Dhabi-based firm led by Pakistani businessman Syed Basar Shueb, has announced the purchase of a majority stake in Beltone Financial Holding SAE, a Cairo-based financial services firm partially owned by Egypt’s richest family, the Sawiris.

According to a press release issued by the Abu Dhabi-based firm, a total of 55.9 percent of Beltone’s shareholding was acquired at a price of EGP1.485 ($0.0779) per share, bringing the total transaction value to EGP370 million ($19.3 million).

It is unclear how much of the 59.22-percent stake held by Orascom Financial Holding, a firm led by the Egyptian billionaire Sawiris family, was acquired during the share-purchase transaction. However, it is clear that Chimera is now the majority shareholder in Beltone as a result of the recent deal.

Syed Basar Shueb, chairman of Chimera Investment, commented on the transaction, stating that it aligns with Chimera’s broader strategy of long-term value creation investments and expands the company’s presence in regional economies.

He went on to state that, in the coming months, the Abu Dhabi-based firm will look to unlock value and implement an all-encompassing transformation plan aimed at restoring Beltone’s growth and profitability.

In addition to the transaction, Dalia Khorshid, the chairwoman and CEO of MASAR Financial Advisory, a regional financial advisory firm, was appointed as the new CEO of Beltone, as the Egyptian firm enters a new phase of growth under new management.

“I am honored by the opportunity to lead Beltone’s strategic transformation plan,” Khorshid said in response to her recent appointment as CEO. “I am confident that we will restructure and grow this institution to become a major market leader in the region and a solid platform for attracting international investments into our host markets.”

Beltone, a financial services provider in Egypt and the Middle East and North Africa, was founded in 2006 to provide brokerage, investment banking, asset management, equity research, and a variety of non-banking financial services like leasing, consumer finance, and venture capital platforms.

In a $1.3-million deal nearly a year ago, Orascom Financial Holding, led by Egypt’s Sawiris family, reduced its stake in Beltone to 59.22 from 61.24 percent.

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Ardova dismisses winding-up order, as Femi Otedola’s Zenon serves majority shareholder petition over $6-million debt

The once promising relationship between Otedola’s Zenon and Abdulwasiu Sowami’s Prudent Energy has taken a new turn.

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Femi Otedola. ©Billionaires.Africa

Arodva Plc, a Nigerian oil and gas marketing company majority owned by Nigerian businessman Abdulwasiu Sowami, has denied reports that it is facing a winding-up petition over a $6-million debt owed to Zenon Petroleum & Gas Limited, an oil company founded by billionaire businessman Femi Otedola.

The news comes as the once promising relationship between Otedola’s Zenon and Sowami’s Prudent Energy, Ardova’s majority shareholder, takes a new turn over the debt.

The oil company stated in a press release on Tuesday that its management’s attention has been drawn to recent media claims regarding the debt, and it is critical to set the record straight that no winding-up petitions are presently facing the company in relation to the 2019 transaction.

The company went on to state that the current issues are related to claims and warranties made under a share-purchase agreement between Prudent Energy and Zenon for the purchase of shares in Forte Oil Plc in a $200-million deal in 2019.

The management went on to state that Ardova is not party to any of the proceedings, that the proceedings have no bearing on the company’s rights or operations, and that it has no claims against its assets.

Zenon, which has a guarantee for the prompt payment of the debt, served Prudent Energy with a petition earlier this week, more than a month after the deferred consideration, which was due on June 18, had yet to be paid despite demand letters sent to Sowami.

Experts believe that the dispute will reignite debate over Ardova’s share ownership structure.

The $6-million debt, which represents the remaining purchase consideration for the Forte Oil stake, adds to Prudent Energy’s pressures, as shares in Ardova, the company that it acquired nearly three years ago, have fallen significantly from an average price of N23.6 ($0.055) per share in 2019 to N13 ($0.0305) per share at the time of writing this report.

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