Absa Group, led by Sello Moloko, to establish presence in Dubai
Absa Group to open Dubai office in early 2026, expanding global reach and tapping into Africa-Gulf trade and investment.
Southern Africa
South African tycoon Barry Stuhler’s Lighthouse declares $29.5 million dividend
This represents a 17.08 percent increase compared to the previous year, driven by stronger-than-expected tenant sales and a strategic expansion of its property portfolio.
Sibanye’s 89MW wind farm begins commercial operation under Neal Froneman
Sibanye-Stillwater, led by Neal Froneman, begins commercial operations at 89 MW Castle Wind Farm, advancing its renewable energy goals and sustainability efforts.
South African billionaire Rob Hersov to launch media empire
The entrepreneur aims to launch a platform like ‘The Daily Wire’ for South Africa, expanding his influence in media and politics.
Standard Bank, led by Sim Tshabalala, raises sustainable finance commitments to $24.5 billion
Standard Bank boosts sustainable finance to $24.5 billion by 2028, reinforcing its role in Africa’s energy transition while balancing climate goals with economic growth.
Nicky Oppenheimer, South Africa’s second-richest man, loses $800 million
The recent dip means Oppenheimer has lost $250 million year-to-date, reversing the $550 million gain recorded just 38 days ago.
Noluthando Gosa-linked ArcelorMittal South Africa defers shutdown amid $91.6 million IDC facility
ArcelorMittal SA secures a $91.6 million IDC facility, delaying its Long Steel shutdown for six months as it navigates financial turmoil and explores long-term solutions.
Pick n Pay, backed by Ackerman family, opens new store after closing 32 locations
This comes barely two months after the company closed 32 stores as part of its restructuring plan.
South African tycoon Gus Attridge loses $15.73 Million as Aspen stake sinks
Attridge, co-founder and group chief advisor of Aspen Pharmacare, holds a 4.3-percent stake in the company.
Pandega, led by Zimbabwean executive Michael Fowler, hits $223 million revenue in 2024
Padenga’s strong performance was largely powered by its gold mining subsidiary, Dallaglio Investments, which contributed 86 percent of the group’s revenue.
South Africa’s IDC seeks control of ArcelorMittal SA, linked to Noluthando Gosa
ArcelorMittal SA, the country’s largest steel producer, has faced growing challenges from rising production costs, cheap imports, and unreliable rail services.
Capitec CEO Gerrie Fourie to retire after over a decade of leadership
This marks the end of more than a decade-long tenure in which he played a key role in transforming Capitec into the country’s leading digital bank.
Sim Tshabalala-led Standard Bank backs $5 billion oil pipeline
Standard Bank leads a $5 billion financing deal for Uganda-Tanzania oil pipeline, signaling cautious investor confidence despite environmental opposition.
CA&S Group, led by Botswana executive Duncan Lewis, declares $6.4 million dividend for investors
The payout represents a 24.9 percent increase from the previous year, reflecting the company’s steady financial and operational growth.
Stephen Saad’s wealth takes a hit as Aspen Pharmacare stock plunges, erasing $41 million
This downturn follows a $44 million gain in January, which had lifted his stake to R10.26 billion ($550.1 million).
Glencore, led by South Africa’s Gary Nagle, commits $329 million to cleaner fuels
The funds will go toward installing new equipment at Astron Energy’s 100,000-barrel-per-day crude oil refinery near Cape Town.
