Tokyo Sexwale's, Mvelaphanda Group Makes Bid for South Africa's Largest Telephone Company
Tokyo Sexwale's, Mvelaphanda Group has launched a 90 billion rand ($11 billion) takeover bid for South Africa's biggest fixed-line telephone group Telkom.
Mvelaphanda Group, controlled by Tokyo Sexwale, one of South Africa's richest men, has launched a 90 billion rand ($11 billion) takeover bid for Africa's largest integrated communications company Telkom.
Africa Management Ltd, a private equity company setup by Sexwale's Mvelaphanda Holdings with backing of New-York listed private equity firm Och-Ziff would be the acquirer of Telkom if the offer were to be accepted.
Sexwale left public political office in 1998 for the corporate sector and established Mvelaphanda Holdings in late 1998. Through Mvelaphanda Group he owns an 10 percent stake in South Africa's biggest retail bank Absa, 10.8 percent of construction company Group Five and a 23 percent stake in Mvelaphanda Resources one of South Africa's biggest black-owned and managed mining companies.
Sexwale a car racing fan, has a close relationship with former South African president Nelson Mandela. The two were jailed together in the notorious Robben Island prison for fighting to overthrow white minority rule.
Let's Inspire Success, Ownership, and Financial Independence!
As the world faces unprecedented challenges, one thing remains clear: the power to shape our own destiny lies within our hands. At BlackEntrepreneurProfiles.com, we are committed to fostering a brighter future for individuals of African descent worldwide through entrepreneurship and financial empowerment.
Together, let's pave the path to success! Your contribution matters. Donate today and be a catalyst for change.
Latest News & Articles
-
Elon Musk is Richer Than Most African and Caribbean Economies
Created by BlackEntrepreneurProfiles.comWhat happens when you compare the owner of SpaceX to the GDP of South Africa, Jamaica, or St. Vincent? The results are shocking. Discover the massive…
-
Elon Musk Cancels Partnership for Don Lemon's X Show
Created by BlackEntrepreneurProfiles.comElon Musk has ended X's planned partnership with former CNN anchor Don Lemon. This decision comes shortly after Lemon conducted an interview with the…
-
South Africa Opens Its Doors to Remote Workers With New Digital Nomad Visa
Created by BlackEntrepreneurProfiles.comSouth Africa is joining the growing trend of nations recognizing the potential of remote work and is taking steps to attract digital nomads. A newly…
Recently Added Black Entrepreneurs & Executives
-
Kevin Hart
Created by BlackEntrepreneurProfiles.comKevin Hart, widely recognized as a Hollywood A-lister and comedic powerhouse, has established himself as both a successful entrepreneur and a shrewd…
-
Peter Akwaboah
Created by BlackEntrepreneurProfiles.comPeter Akwaboah is a finance industry professional with nearly three decades of experience. He was recently appointed Chief Operating Officer by Fannie…
-
Bolaji Agbede
Created by BlackEntrepreneurProfiles.comBolaji Olaitan Agbede is Acting CEO of Access Holdings Plc following the passing of founding Group Chief Executive Officer, Herbert Wigwe. She is a…
FTC: Black Entrepreneur & Executive Profiles is reader supported, we may earn income on affiliate links. You support us by using our links to buy products, it will cost you nothing extra.
We also a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.