Arnaud Lagesse Archives

Pick n Pay raises $282 million from Boxer stake sale to aid turnaround

Pick n Pay Stores Ltd., the South African grocery chain, has raised $282 million by selling part of its stake in discount retailer Boxer, giving the supermarket group more room to fund its recovery plan after one of the toughest periods in its history. The sale, confirmed on Tuesday, involved about 57.3 million Boxer ordinary shares, equal to roughly 12.5…

Oluwatosin Alao May 19, 2026

IBL Group headquarters at Caudan Waterfront in Port Louis, Mauritius, home to the Mauritian conglomerate.

Business Global News Hot News

IBL Group, Mauritius’ largest conglomerate, posts $2 billion nine-month revenue

IBL Group posts revenue above $2 billion for nine months to March 2026, with growth across operations and assets reaching $3.04 billion.

Omokolade Ajayi May 19, 2026

Billionaires Business Hot News

El-Sewedy family set for $58 million dividend from Elsewedy Electric

Egyptian El-Sewedy family set for $58.3 million payout as Elsewedy Electric boosts dividend after $361 million profit in 2025.

Feyisayo Ajayi May 19, 2026

Business Hot News

Afrimat secures mining rights ruling tied to Transnet corridor

Afrimat secures a High Court order compelling South Africa’s mining minister to approve a key mining rights transfer linked to Transnet’s iron ore export corridor.