Convergence Partners, the private equity investment firm controlled by businessman and entrepreneur Andile Ngcaba, has announced the first close of its third fund after raising $120-million.
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Naspers-controlled consumer Internet investment group Prosus is leading an R18.2-billion funding round in Indian food-delivery giant Swiggy. Japan’s SoftBank Group is a co-investor in the round.
IT distributor and PC assembler Mustek said on Friday that the financial losses associated with the ransacking of and arson at its Durban office will not exceed R20-million.
Business leaders in Durban are crying out for more decisive action to curb the widespread looting and anarchy in KwaZulu-Natal, including an immediate state of emergency.
Three months after being forced to take down videos from its website in which it implored Adapt IT shareholders to accept its offer to buy the software services group, Huge Group has again gone on the offensive.
The rand dropped to a three-month low on Tuesday as concerns grew over escalating violence in the country following the jailing of former President Jacob Zuma.
Violent protests have dealt a body blow to South Africa’s efforts to rebuild the economy in the wake of the coronavirus pandemic and pose the sternest test yet to President Cyril Ramaphosa’s authority.
China’s market regulator on Saturday said it would block Tencent’s plan to merge the country’s top two videogame streaming sites, Huya and DouYu, on antitrust grounds.
Shareholders of technology investor Prosus on Friday approved a deal with parent Naspers that will move most of the economic value of the intertwined companies to Amsterdam.
Steve Ballmer, the former CEO of Microsoft, has a net worth of more than $100-billion, making him the ninth person in the world to reach that lofty plateau.