Tag: South Africa

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Spar Group CEO Angelo Swartz exits, CFO Reeza Isaacs set to take over

Spar Group CEO Angelo Swartz exits; CFO Reeza Isaacs takes over, inheriting a leaner, more focused retailer navigating tech and competition.

Omokolade Ajayi Omokolade Ajayi
Standard Bank's office in South Africa.
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Standard Bank raises $124.8 million to cover financial loss

Standard Bank raises $124.8 million with new FLAC notes.

Timilehin Adejumobi Timilehin Adejumobi
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Anglo American takes $2.3 billion De Beers hit as restructuring deepens

Anglo American books $2.3 billion De Beers writedown as restructuring deepens, with a shift toward copper and iron ore.

Omokolade Ajayi Omokolade Ajayi
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South Africa’s richest man, Johann Rupert, slips below $19 billion

South Africa’s richest man, Johann Rupert, chairman of Swiss luxury giant Richemont, has seen his net worth slip below the $19 billion mark, tempering earlier expectations that he could soon join the small circle of Africans worth more than $20 billion. At the start of the year, his fortune climbed as high as $19.7 billion, putting him within reach of…

Omokolade Ajayi Omokolade Ajayi
Hot NewsLuxury

Tsogo Sun buyback tops $14 million as shares fall 33% on JSE

Tsogo Sun repurchases $14.1 million in shares amid 33% stock decline, maintaining financial stability and operational growth.

Omokolade Ajayi Omokolade Ajayi
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Unemployment in South Africa falls to lowest level since 2020

South Africa’s unemployment rate drops to 31.4 percent in fourth quarter 2025, lowest since 2020, as hiring improves modestly.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

South Africa fast-tracks $3 billion Durban LNG power plant

South Africa accelerates a $3 billion Durban LNG plant, combining power generation, gas pipelines, and industrial LNG supply.

Omokolade Ajayi Omokolade Ajayi
African Rainbow Minerals profit
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Patrice Motsepe steps down from ARM executive duties under new JSE rules

South African billionaire Patrice Motsepe steps down from ARM executive role, stays as chairman.

Omokolade Ajayi Omokolade Ajayi
Natie Kirsh, Eswatini and South African billionaire and majority owner of Jetro Holdings.
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Africa’s oldest billionaire hits $10.4 billion after $1.55 billion bid fails

Natie Kirsh adds $734 million in 2026, pushing Africa’s oldest billionaire to $10.4 billion despite $1.55 billion bid fallout.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Vukile targets more Spain, South Africa deals after $127 million Berceo mall buy

Vukile expands in Spain and South Africa after $127 million Berceo mall acquisition, targeting high-yield retail assets and strong tenants.

Omokolade Ajayi Omokolade Ajayi
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Africa’s first Black billionaire recovers $100 million after $400 million drop

Africa’s first Black billionaire Patrice Motsepe rebounds $100 million after a $400 million drop, boosted by gold and mining stakes.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Thousands of jobs at risk as South Africa’s Tongaat Hulett faces liquidation

Thousands of jobs are at risk as South African sugar producer Tongaat Hulett faces liquidation after a failed $737 million rescue plan.

Omokolade Ajayi Omokolade Ajayi