Noluthando Gosa-linked ArcelorMittal SA pays Eskom $171 million for electricity
In 2024, ArcelorMittal SA paid Eskom $171 million for electricity as rising costs, weak demand, and imports pressured the steelmaker.
South Africa
Ackerman family stake tops $180 million as Pick n Pay shares rebound
The family owns 16.71 percent of Pick n Pay, which amounts to 124.68 million shares.
Clicks Group, led by Bertina Engelbrecht, plans $54.5 million expansion
Clicks Group, led by Bertina Engelbrecht, to invest $54.5 million to expand stores, upgrade supply chains, and grow health and beauty segments.
Anthony Leeming pockets $1.2 million salary in 2024
The South African executive’s R23.15 million ($1.23 million) pay in 2024 reflects his impact on Sun International’s success.
Koos Bekker's Prosus backs Rain’s $75 million funding round
Under South African billionaire Koos Bekker, Prosus continues its efforts to support tech solutions that address the evolving needs of workers worldwide.
Laurence Rapp-led Vukile acquires mall in Portugal for $72 million
Vukile Property Fund expands its Iberian retail portfolio with a $72.2 million acquisition of Forum Madeira, strengthening its foothold in Portugal’s tourism sector.
Rob Hersov backs U.S. aid cuts to South Africa
South African billionaire Rob Hersov backs U.S. aid cuts to South Africa, calls for more sanctions against ANC.
Adrian Gore-linked Discovery Life pays $593 million in claims
The company paid out R11.5 billion ($593 million) in benefits, with wellness incentives and living benefits surpassing traditional death claims for the first time.
Duncan Wanblad's Anglo American faces hurdle in $3.5 billion deal
Anglo American is also navigating a strategic overhaul, including a potential listing of its diamond business, De Beers.
Saltzman family, one of South Africa’s richest, loses $43.95 million from Dis-Chem stake
This follows a previous loss between Feb. 7 and Mar. 10, when their stake dropped by $45.37 million, from $473.47 million to $428.09 million.
Glencore, led by Gary Nagle, sets date to shut Mount Isa Copper Mine
Located in north-west Queensland, the mine has been a vital part of Australia’s mining landscape for over a century.
South Africa’s richest man Johann Rupert loses $1.1 billion, net worth drops below $16 billion
Since the start of March, Richemont’s shares have dropped more than 11 percent, bringing the value of his stake down from $12.5 billion to $11.5 billion.
Anglo American, led by South Africa’s Duncan Wanblad, plans to list De Beers
Anglo-American considers listing De Beers as it exits diamonds, marking the end of a century-old partnership amid market turmoil and weak demand.
Ugandan tycoon Patrick Bitature suffers another legal defeat against South Africa’s Vantage
Ugandan tycoon Patrick Bitature suffers another legal defeat against South Africa’s Vantage
Anglo American, led by South Africa’s Duncan Wanblad, to restructure operations, reduce jobs
The company is shedding assets and gearing up to spin off its platinum division in a push to streamline operations and boost profitability.
Standard Bank, led by South African banker Sim Tshabalala, posts $2.4 billion earnings
Under Tshabalala, Standard Bank has continued to strengthen its position as a leading financial institution in Africa, expanding its reach while delivering strong profits.