One of South Africa’s richest business leaders talks about his commercial successes and failures, the debates about race and economics in South Africa and his criticism of the government.
South Africa’s Brait SE has suspended plans to list on the London Stock Exchange.
Christo Wiese, the South African businessman behind Africa’s largest retailer, Shoprite, has his sights on entering the grocery sector in Britain through a possible acquisition.
South African investment house Brait SE is to raise 350 million pounds ($541 million) via a convertible bond to fund acquisitions, it said on Friday, putting its shares on course for their biggest one-day fall in nearly a year.
From milk churning in Zimbabwe to rose growing in Ethiopia, private equity investments in Africa have returned to pre-crisis levels and should keep rising as funds seek bumper returns in far-flung markets.
Perhaps the most overlooked feature of the oft-challenged ‘Africa Rising’ narrative is that African businesses are growing in self-confidence and belief in their continental competition rather than looking to the West for validation.
African investment heavyweight Brait SE (BATJ.J) said it will pay $1.2 billion for virtually all of budget clothes retailer New Look, giving it a substantial presence in Britain’s fiercely competitive fashion retail market.
Brait SE, the Johannesburg-listed company that last week agreed to buy British health-club provider Virgin Active, has a further $2 billion to spend on deals, according to its largest shareholder and billionaire Christo Wiese.
South African investment house Brait SE (BATJ.J) is to pay 682 million pounds ($1 billion) for a controlling stake in gym group Virgin Active, Brait said on Thursday, seeking to tap the growing health-conscious middle classes particularly in Africa and Asia.
Emerging markets private equity group Abraaj has raised more than $1.3bn for two funds investing in Africa, the largest amount amassed for direct deals across the continent, people aware of the matter say.
Concerns about the scale of the Ebola crisis and plunging commodity prices would have had investors fleeing Africa not that long ago. But dealmaking in the sub-Saharan region is buoyant as most investors set aside short-term worries and bet big on growth.
Concerns on the scale of the Ebola crisis, current levels of political unrest and plunging commodity prices would have sent investors rushing out of Africa not long ago.
Brait SE (BAT) is seeking investment targets for the 26.4 billion rand ($2.4 billion) windfall it received from the sale of its stake in Pepkor Holdings Pty Ltd. as shareholders pressure the company to spend the cash.