
How Africa’s billionaires lost billions: 5 costly investment blunders
Even billionaires make costly mistakes—overleveraging, overexposure, disruption, misjudgment, and poor due diligence can erase fortunes in months.
Even billionaires make costly mistakes—overleveraging, overexposure, disruption, misjudgment, and poor due diligence can erase fortunes in months.
With deep pockets and a sharp eye for opportunity, billionaire-backed banks are making a mark in corporate finance, wealth management, and financial inclusion.
The move is aimed at consolidating control, unlocking shareholder value, and streamlining operations.
The lawsuit challenges the decision to dismiss appeals against an offset exemption granted to Elandsfontein, which is 90 percent owned by ARM through Kropz Plc.
His leadership has reshaped CAF’s financial outlook, attracting record sponsorship deals and boosting revenue streams.
Motsepe’s net worth surged to $3 billion for the first time since August 2024, marking a significant recovery.
The company, which has been expanding into renewable energy, is weighing whether to hold or offload its 11.8 percent stake in Harmony, South Africa’s largest gold miner.
This payout comes despite a 25% dividend cut amid falling earnings and financial strain in a volatile commodity market.
The company’s headline earnings fell 49 percent to R1.52 billion ($83.43 million), down from R2.96 billion ($162.2 million) a year earlier.
Harmony Gold posted $1.98 billion in H1 revenue, driven by surging gold prices, cost control, and a record dividend, despite a slight dip in production.
The move boosts Ninety One’s stake from 3.5 percent to 5 percent, reinforcing its investment strategy even as the miner reports its weakest earnings in seven years.
The decline follows a steep 16 percent drop in ARM’s share price over the past five days, with the stock sliding from R162 ($8.8) to R135 ($7.33).
African Rainbow Minerals (ARM), led by Motsepe, forecasts a 55% drop in headline earnings on weaker iron ore prices.
Patrice Motsepe’s ARC raises its stake in JSE-listed Alexforbes to $264.34 million, reinforcing its influence in South Africa’s financial services sector.
From thriving city centers to expanding suburban areas, demand for both residential and commercial properties is growing steadily.
Sanlam partners with Fedhealth to provide integrated healthcare, insurance, and investment solutions, expanding affordable healthcare access to South Africans.