Money Deals

In 2005 Willcox’s 4.4% interest in the formerly JSE listed and now defunct Mvela Group was estimated to be worth in the region of ZAR 118 million. This was the mainstay of his wealth.

Mining MX reported that Willcox trained as a lawyer, obtaining an LLB from the University of Cape Town. After a stint in the US, he returned to South Africa, where he became involved in commercial law. While structuring a transaction in 1998 involving diamond assets near Kimberley, Willcox first met Sexwale.

Black Economic Empowerment is an emotive topic in South Africa and southern Africa. Countries on the African continent were historically colonized by largely European countries that assumed control over political and economic control over their colonies. The colonies were governed through a political system of white minority rule where the settlers as it was exercised political control and ruled over the entire population. The natives of the land had little to no say politically, let alone any right to self-determination. When the wave of nationalism began to sweep over countries in Africa, and they began to gain independence, it did not take long for the liberators of those countries to realize that political control alone counted for nothing if they did not have economic means.

Customers can also buy airtime and access other mobile network operator services using their Visa or Mastercard debit and credit cards through Tingg, Cellulant’s digital payments platform.

Tingg by Cellulant is at the forefront of ensuring digital financial solutions are available across the continent. Tingg, which integrates 211 banks in Africa, is a one-stop payment aggregator for multinational corporations, mid-caps, and small and medium-sized enterprises (SMEs).

Tingg enables merchants to receive, view and reconcile all their payments through a single platform or their system by integrating Tingg’s Application Programming Interfaces (APIs), eliminating the need to subscribe to multiple providers’ payments and, in the case of mobile money, mobile network operators (MNOs) and banks.

Liquid can deliver connectivity on both a local and regional scale because of its open access, totally owned fibre network that spans 100,000 kilometres.

The terrestrial infrastructure is supplemented by an extensive network of undersea cables, which together make up the international connectivity footprint of Liquid.

In addition to networking, cloud voice, cloud applications, and cloud platforms, Liquid’s cloud solutions incorporate cyber security services such as cyber defence, secure access, and safe data in addition to networking, cloud voice, cloud applications, and cloud platforms.

Investment income and higher net premiums contributed to Jubilee’s increased net profit of Sh6.8 billion for the year that ended in December, which was up 67% from the previous year.

As a result of the performance, the company has declared an extraordinary dividend of Sh5 for each share. In addition to its regular dividend of Sh9 per share, the company distributed this amount.

After reaching an agreement to purchase a majority stake in Jubilee’s general insurance businesses, Allianz negotiated a contract with Sanlam Limited of South Africa to establish a joint venture. This agreement may have repercussions for the Kenya-based subsidiaries of both of the aforementioned companies.