VENTURES AFRICA – South Africa billionaire and Chairman of Richemont, Johann Rupert, will be going on a year long sabbatical after the group’s annual general meeting in September. Rupert who has already reduced some of his day-to-day duty as the group’s Chief executive said he is taking a year leave to read books and possibly [...]

VENTURES AFRICA – South Africa’s telecommunication giants, Vodacom, MTN and Dimension are preparing for a hostile takeover of Neotel, the country’s fixed line operator, it emerged on Friday. It was speculated on Friday that these JSE-listed companies were at an advanced stage to take over the company. A well-placed source told Ventures Africa: “Things look [...]

VENTURES AFRICA – Sanlam, South Africa’s second biggest life insurer, on Friday said it was poised to acquire 49 percent stake in Malaysian short term insurer Pacific & Orient Insurance (POI) for R814 million ($86.5 million) “All conditions precedent have been met to conclude the acquisition… and the effective date of the transaction is 17 [...]

VENTURES AFRICA – Miners at JSE-listed Anglo American Platinum mine demanded an audience on Friday with President Jacob Zuma to solve the mine labour dispute, saying, otherwise the economy will “come to a stand still.” Joseph Mathunjwa, head of the Association of Mineworkers and Construction Union (AMCU), accused the ruling African National Congress (ANC) party [...]