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African Rainbow Minerals has seen a 134 per cent jump in headline earnings, year-on-year, for the six months ended December 2020. The performance was underpinned by higher metal prices, coupled with a weaker rand. Mike Schmidt, CEO of African Rainbow Minerals joins CNBC Africa for more.

ARM’s headline earnings surge 134%

ARM’s headline earnings surge 134%, looks to double PGM portfolio

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African Rainbow Minerals has come out with strong results, reporting a 6 per cent increase in headline earnings. The mining company has declared a dividend of 700 cents per share, as its key commodities remained resilient, in a challenging environment. African Rainbow Minerals CEO, Mike Schmidt joins CNBC Africa for more.

African Rainbow Minerals reports solid results in tough operating environment

Media Release



For immediate release



31 March 2020 &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp;



Sanlam announces new leadership in its most
key positions



New independent non-executive Chair of Sanlam
Board



New Sanlam Group Chief Executive Officer



New Sanlam Group Financial Director



Bellville – Sanlam today announced that the
Sanlam Board has approved new appointments in three of its most senior
positions in the diversified financial services group.



The Sanlam Board has approved that:



Mr Elias Masilela be appointed as independent
non-executive Chair of the Sanlam Board with effect from 10 June 2020;



Mr Paul Hanratty be appointed as Group CEO
from 01 July 2020; and



Ms Abigail Mukhuba be appointed as Group
Financial Director from 01 October 2020.



Each of the appointments was made following
rigorous and thorough Board processes with internal and external candidates for
each of the three key positions as well as the requisite approvals from the
Prudential Authority.



Sanlam views leadership succession as
important and takes a proactive stance when it comes to leadership transition.
Vacancies in the most senior positions have created the opportunity to find the
best available candidates as well as advancing the Group’s transformation
agenda at the most senior levels in the organisation.



New independent non-executive Chair of Sanlam
Board



Mr Masilela, who already serves as a Board
member, is the former Chief Executive Officer of the Public Investment
Corporation (PIC). He currently serves on a number of company boards and
co-owns and co-manages a consultancy focused on strategy, economics and
business development.



Mr Masilela succeeds Dr Johan van Zyl as Board
Chair. Dr Van Zyl’s departure as Board Chair in June 2020 was announced in
March 2019.



Mr Masilela’s extensive network of key
stakeholders in both the private and public sectors in South Africa and beyond
is viewed as valuable to Sanlam’s existing strategy of becoming the leading
financial services company in South Africa and the rest of Africa.
Notwithstanding the key contributions made by Sanlam’s businesses outside South
Africa, the company still generates some 60% of its earnings within South
Africa.



Mr Sipho Nkosi, Chair of the Sanlam
Nominations Committee of the Board commented:



“We have followed the same thorough process as
with each key appointment within the organisation in the interest of good
corporate governance. The Committee recommended the appointment of Mr Masilela
as an independent non-executive Chair of the Board and the Board’s decision is
unanimous.



“The Board looks forward to Mr Masilela’s
leadership at Board level as he directs the Board’s strategic deliberations on
key matters going forward. The Board also wishes to express its gratitude to Dr
Van Zyl who served for a period of three years as Chair of the Board.”



In accepting his new role, Mr Masilela
commented:



“The financial services sector in South Africa
is a significant contributor to economic stability and growth in the country.
Sanlam has consistently achieved market related performance and, when measured
against its peers, can demonstrate that it is a leading contender.



“The Sanlam Group has a clear and focused
business strategy to unlock value for its stakeholders. Given where we are in
the business cycle, management will do the necessary shifts in emphasis to the
Group’s strategy. It will remain the responsibility of the Board to hold
management accountable for the implementation of the Group&#8217;s strategy, in order
to achieve our business objectives and oversee consistent adherence to sound
corporate governance practices.”



Dr Van Zyl steps down as Chair of the Board
but will continue to serve as a non-executive director on the Board in the
interest of continuity at Board level. Dr Van Zyl represents the interests of
Sanlam’s largest shareholder Ubuntu-Botho Investments, along with Dr Patrice
Motsepe and Dr Rejoice Simelane.



New Sanlam Group Chief Executive Officer



Mr Kirk, the current Group CEO, will remain
available to the organisation after Mr Hanratty takes over as new Group CEO in
July. He will fulfil various responsibilities, including support to Mr
Hanratty, until 31 December 2020 when his five-year contract at Sanlam ends.



The Board’s decision is that Mr Hanratty will
commence duties as Group CEO on 1 July 2020. However, in light of the very
challenging times that South Africa is facing in dealing with the Covid-19
crisis, Mr Kirk will continue to play an important role at an ASISA industry
level, working with the Government in addressing these challenges. He will
continue in a leadership role in the Group through these times and be available
until 31 December 2020, as the situation normalises, fulfilling various
responsibilities, as well as supporting with the handover to Mr Hanratty.



The appointment of the new Group CEO follows
rigorous deliberations by a special ad hoc Board Committee led by Dr Shirley
Zinn, a seasoned Human Resources professional who is an independent
non-executive director on the Sanlam Board. The Committee was also assisted by
relevant external service providers to find and evaluate appropriate internal
and external candidates.



Dr Zinn commented:



“The Committee considered applications from
several internal as well as external candidates. Shortlisted candidates
submitted impressive proof of experience as well as sets of key strategic
priorities to ensure the Sanlam Group’s growth trajectory into the future.



“In the end, the Committee was guided by
evidence of significant experience to successfully manage a complex financial
services business. Experience and insight into the broader financial services
sector, including peers, was also considered. Given Sanlam’s scale and relative
diverse business activities, the Committee recommended to the Board that Mr
Hanratty be considered to be appointed as new Group CEO.”



Under Mr Kirk’s leadership the Sanlam Group
has achieved many accolades. Sanlam has achieved the clear leadership position
amongst insurance groups operating in South Africa and on the African
continent. Key to this was progress on implementing the Group’s profitable
growth strategy over the past few years and the completion of the Saham transaction
in Morocco. This transaction has cemented Sanlam’s position as having an
unparalleled footprint across 32 countries on the African continent.



Mr Hanratty, a qualified actuary, has served
on the Sanlam Board as a non-executive director since 3 April 2017. Before he
was appointed to the Sanlam Board in 2017, he held key leadership positions at
Old Mutual.



Commenting on his appointment, Mr Hanratty
said:



“Leading an organisation of this scale is
certainly an honour. Over the last two decades or so Sanlam has successfully
demonstrated that it is able to consistently unlock value for shareholders and
the rest of its stakeholders.



“Significant shifts in the operating
environment in both South Africa and elsewhere in our key markets may result in
increased challenges to Sanlam achieving its business objectives. In
successfully meeting these objectives, we’ll be guided by the Group’s existing
strategy and we’ll consider the necessary shifts where required and relevant. I
look forward to working with Sanlam’s Group Executive Committee as well as its
various stakeholders.”



New Sanlam Group Financial Director



The third key appointment that the Group
announced, is that of Ms Abigail Mukhuba as Group Financial Director.



Ms Mukhuba joins Sanlam from leading mining
company African Rainbow Minerals where she has held the position of Finance
Director since 2017. She qualified as a Chartered Accountant in 2005 and holds
an MBA (UCT), M Com (RSA and International Tax) (RAU), B Com (Hons) (RAU), B
Compt (UNISA). She has held several senior finance positions at KPMG Inc., BMW
SA and Exxaro Resources Limited.



She has over 15 years’ experience in the
financial reporting and tax specialist environment in both the automotive and
mining industries. She is a pioneer in her field and is a fervent supporter of
women empowerment.



Ms Mukhuba takes over from Mr Wikus Olivier
who has been acting as the Chief Financial Officer (CFO) since July 2019 when
Mr Heinie Werth, former Sanlam Finance Director was appointed as Chief
Executive Officer of Sanlam Emerging Markets, the business cluster that is
responsible for Sanlam’s businesses across 32 countries in Africa, as well as
the Group’s other emerging markets businesses in India, Lebanon and Malaysia.



In announcing Ms Mukhuba’s appointment, Mr
Kirk commented:



“We thank Wikus for his stellar contribution
as acting CFO and are pleased that he remains with us in a Group Exco position.
Over this period, we have had the opportunity to explore the market for the
best skills available as well as making progress in advancing Sanlam’s agenda
of appointing black professionals at the most senior levels in the
organisation. We are delighted to bring Ms Mukhuba on board and wish her every
success as part of our dynamic team.”



Commenting on her appointment, Ms Mukhuba
said:



“Joining the Sanlam Group as Finance Director
is certainly an honour and it comes with significant responsibility as we work
towards ensuring the organisation’s financial health to the benefit of all
stakeholders. Sanlam is at an inspiring juncture in its history as it has
successfully established itself as a major player in financial services – both
in South Africa and its key markets. It is working towards unlocking value from
existing key investments while carefully navigating its future over the medium to
longer term.”



Mr Wikus Olivier who has been acting as the
Chief Financial Officer (CFO) since July 2019 has been appointed as the Group’s
Chief Executive: Strategic Projects. Mr Olivier took over the acting position
when Mr Heinie Werth, former Sanlam Finance Director, was appointed as Chief
Executive Officer of Sanlam Emerging Markets. He will ensure a successful
transition and thereafter take responsibility for a portfolio of important
change projects at Sanlam.



Ends



Notes to editors



Short Profile on Mr Elias Masilela



Mr Masilela (age 56) is the Executive Chairman
of DNA Economics, Commissioner of the 1st &amp; 2nd National Planning
Commission.



He holds a BA Degree Social Science with the
University of Swaziland, MSc in Economic Policy and Analysis with Addis Ababa
University as well as several professional certificates with Harvard
University.



Mr Masilela serves as Board Chair of several
influential entities in South Africa, including Capital Harvest and the
National Task Force on Impact Investing in South Africa.



Other Board memberships include Multichoice
Group, Multichoice SA, Alternative Prosperity Holdings, Future Planet Capital
in London and Strate.



Mr Masilela was previously, Chief Executive
Officer of the Public Investment Corporation (PIC), Head of Policy Analysis at
Sanlam, Acting Deputy Director General for Economic Policy in the National
Treasury, Director of Research at the Central Bank of Swaziland.



Previously, he was a member of the Boards of
the South African Reserve Bank, the Government Employee Pension Fund, the
Airports Company SA, Absa Financial Services, Eskom Pension and Provident Fund,
as well as the UN Global Compact Board &amp; Chairman of the (UNGC) SA Local
Network. Until recently, he was Chairman of Economic Research Southern Africa
and member of the Avior Capital Markets Board, Absa Asset Management and the
V&amp;A Waterfront.



Mr Masilela founded several strategic
initiatives such as the Financial Sector Charter Council, Social Security and
Retirement Reform, United Nations Global Compact Africa Implementation Agenda
for the Social Development Goals and the Ratepayers Association network in
Swaziland, amongst others.



He has published and lectured widely. He is a
public speaker and commentator.



Mr Masilela is also an acclaimed author,
having achieved the Top 40 of Alan Paton Award in 2007 (Number 43 Trelawney
Park; kwaMagogo). His most recent book is entitled LARRY – Simply Larry,
September 2018.



Short Profile on Mr Paul Hanratty



Mr Hanratty (aged 58) had a long and
successful career with Old Mutual in South Africa and the United Kingdom (UK).



He holds B.Bus.Sc (Hons) degree from the
University of Cape Town and became a Fellow of the Institute of Actuaries (FIA)
in 1987. He completed the Advanced Management Programme (AMP) at Harvard
University in 2002.



Mr Hanratty joined Old Mutual in 1984 on
graduating from UCT. He went on to hold various roles before being appointed
CEO of Old Mutual South Africa in 2006. As CEO, he helped the organisation
navigate the global financial crisis (GFC) and strongly developed Old Mutual’s
presence in the rest of Africa. In 2009 he assumed a broader role within Old
Mutual PLC (London) with responsibility for Old Mutual’s insurance and asset management
businesses in US, UK, Scandinavia, Europe, South Africa, Africa and other
emerging markets. He was responsible for reshaping this portfolio of businesses
and transforming the strategic and financial profile of these businesses in the
years following the GFC.



He was appointed Chief Operating Officer of
Old Mutual PLC &nbsp;in 2011 and then became a board member as Group Chief
Operating Officer in 2013. In this final role, he drove business performance
and key acquisitions internationally, while also serving on the board of
Nedbank.



Aside from serving on the Sanlam board since
April 2017, he is a non-executive director of MTN where he chairs the finance
committee and is on the audit and risk committees, and of an Ardonagh
subsidiary, a private markets UK insurance broker where he chairs the
&nbsp;risk and audit committee. He is also Non-Executive Chairman of IDM, a
digital financial services group in which he is an investor.



Mr Hanratty is known as a seasoned, highly
experienced, high profile, credible and well-regarded figure in South African,
broader emerging markets and international insurance circles. He boasts a
revered track record of growing and turning around insurance and asset
management business. He has extensive mergers and acquisitions experience.



Short Profile on Ms Abigail Mukhuba



Abigail Muelelwa Mukhuba (aged 40) has is
currently Financial Director of African Rainbow Minerals, a leading mining
company with a market value of R35 billion with some 28 000 employees.



As Financial Director at African Rainbow
Minerals her key responsibilities include:



Efficient and optimal capital allocation
across the group



Managing and maintaining an effective asset
management strategy



Being accountable for overall financial
reporting, group governance and risk management and technology and information



Advising the CEO on all strategic matters
across areas of accountability



Providing motivational and inspirational
leadership to the team and organisation at large, as well as guidance and development
to maintain high performing teams



Actively participating in all strategic
discussions and decisions at board and related committee and executive meetings



Presenting the group’s financial performance
at relevant forums



Leading the controlling and analysing of all
relevant business issues



Continuous improvement culture: evaluate
potential deviation in trends, support and monitor operational effectiveness
programmes, best practice implementation and continuous improvement practices



Adoption of innovation and technology to
enable the business to maximise stakeholder returns



Her key achievements to date are developing a
formalised capital allocation model framework to guide business decisions on
efficient ways of allocating capital across the group. She also implemented a
business continuity programme across most of the group entities.



In terms of her new responsibilities as Group
Financial Director at Sanlam, she brings technical financial reporting and
associated governance capabilities. She strongly believes in living and
displaying personal responsibility for her contribution to achievement of the
company’s strategy. Given her overall risk management as well as technology and
information management experience, she is provided with a holistic view of the
organisation which allow for improved business decision making.



She speaks English (fluent), Tshivenda
(fluent), IsiZulu (moderate), SeSotho (moderate) and Afrikaans (basic).



Notes to editors



About Sanlam



Established as a life insurance company in
South Africa, the Sanlam Group has transformed into a diversified Pan-African
financial services group which is listed on the JSE, A2x and the NSX. Sanlam’s
vision is to be the leader in client-centric wealth creation, management and
protection in South Africa, to be a leading player in Pan-African financial
services with a meaningful presence in India and Malaysia and to play a niche
role in wealth and investment management in specific developed markets.



Through its five business clusters – Sanlam
Personal Finance, Sanlam Emerging Markets, Sanlam Investments Santam and Sanlam
Corporate &#8211; the Group provides comprehensive and tailored financial solutions
to individual and institutional clients across all market segments. Sanlam’s
areas of expertise include insurance (life and general), financial planning,
retirement, investments and wealth in both South Africa and selected emerging
markets.



In addition to its South African operations,
the Group has a direct stake in operations based in Namibia, Botswana,
Swaziland, Zimbabwe, Mozambique, Mauritius, Malawi, Zambia, Tanzania, Rwanda,
Uganda, Kenya, Nigeria, India, Malaysia and the United Kingdom. It has business
interests in the USA, Australia, Burundi, Lesotho and the Philippines. Through
the SAHAM Finances holding company, it has direct exposure to insurance
operations in Morocco, Angola, Algeria, Tunisia, Ghana, Niger, Mali, Senegal,
Guinea, Burkina Faso, Cote D’Ivoire, Togo, Benin, Cameroon, Gabon, Republic of
the Congo, Madagascar, Lebanon and Saudi Arabia.



For further information, visit <a href="http://www.sanlam.com">www.sanlam.com</a> or follow us @sanlam



Issued by Sanlam Group Communications



Sanlam Group Communications Contact People



Pearl Majola



<a href="mailto:pearl.majola@sanlam.co.za">pearl.majola@sanlam.co.za</a>



083 286 7476



Allim Milazi



<a href="mailto:allim.milazi@sanlam.co.za">allim.milazi@sanlam.co.za</a>



082 889 5874



Petra Steenkamp



<a href="mailto:Petra.steenkamp@sanlam.co.za">Petra.steenkamp@sanlam.co.za</a>



082 431 7956

Sanlam appoints ex-Old Mutual boss as new CEO

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African Rainbow Minerals, the mining company chaired by billionaire Patrice Motsepe has released a solid set of results. The diversified miner with operations in gold, platinum, iron ore and coal has seen headline earnings increase by 9 per cent to R5.2 billion. CNBC Africa&#8217;s Kopano Gumbi spoke with CEO Mike Schmidt for more.

ARM CEO: What the Nkomati nickel mine closure means for company’s profitably, earnings

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Wessel Joubert, Investment Associate at Cannon Asset Managers discusses why he selected African Rainbow Minerals as his Hot Stock.

Why this analyst is picking ARM as his Hot Stock

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African Rainbow Minerals, chaired by South African billionaire Patrice Motsepe, is confident about the prospects for the mining sector, this as the government is trying to position mining into a sunrise sector even though many investors have turned their back on it due to paltry profits. CNBC Africa&#8217;s Fifi Peters caught up with the CEO of African Rainbow Minerals, Mike Schmidt for more.

African Rainbow Minerals confident of new dawn in mining

South African gold producers will likely reach a settlement within six weeks in a lawsuit over a fatal lung disease that companies have set aside 5 billion rand ($420 million) in provisions for, a lawyer and industry group said on Sunday.
<img loading="lazy" decoding="async" class="aligncenter wp-image-43173 size-full" src="http://cnbc.africa/wp-content/uploads/2017/02/miner_in_a_gallery_potosi__pixinn.net_.jpg" alt="Update: All 87 workers underground Lily Gold Mine rescued; 3 office workers missing" width="600" height="350" />
“I am confident we will finalize the settlement within six weeks,” Richard Spoor, the human rights lawyer who has spearheaded the class action suit over the disease silicosis, which gold miners contract while working underground, told Reuters.
A spokesman for the working group on Occupational Lung Disease (OLD), a group put together by the six companies involved, said it was is “hopeful” the settlement can be reached in that timeframe.
The settlement would still need to be approved by a High Court before it was implemented.
In February, Graham Briggs, the chair of the working group, said the settlement was seen within “months”. On top of the 5 billion rand that companies have made in provisions, there is 4 billion rand available from a compensation fund to which the industry has been contributing for years.
The suit was launched around six years ago on behalf of miners suffering from silicosis, contracted by inhaling silica dust in gold mines.
Almost all of the claimants are black miners from South Africa and neighboring countries such as Lesotho, whom critics say were not provided with adequate protection during and even after apartheid rule ended in 1994.
The six companies involved are Harmony Gold (<a href="https://www.reuters.com/finance/stocks/overview?symbol=HARJ.J">HARJ.J</a>), Gold Fields (<a href="https://www.reuters.com/finance/stocks/overview?symbol=GFIJ.J">GFIJ.J</a>), African Rainbow Minerals (<a href="https://www.reuters.com/finance/stocks/overview?symbol=ARIJ.J">ARIJ.J</a>), Sibanye-Stillwater (<a href="https://www.reuters.com/finance/stocks/overview?symbol=SGLJ.J">SGLJ.J</a>), AngloGold Ashanti (<a href="https://www.reuters.com/finance/stocks/overview?symbol=ANGJ.J">ANGJ.J</a>) and Anglo American (<a href="https://www.reuters.com/finance/stocks/overview?symbol=AAL.L">AAL.L</a>).
Anglo American no longer has gold assets but historically was a bullion producer.
($1 = 11.8078 rand)
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South Africa gold miners’ silicosis lawsuit settlement expected within six weeks

South African miner African Rainbow Minerals dropped KPMG as its auditor on Monday, joining a host of other local companies breaking ties with the firm caught up in an influence-peddling scandal.
<img loading="lazy" decoding="async" class="aligncenter wp-image-284163 size-full" src="http://cnbc.africa/wp-content/uploads/2017/09/KPMG_Flickr.jpg" alt="" width="1024" height="768" />
KPMG has been losing clients after its own investigation last month found flaws in work it did for the tax collection agency and the Gupta family, wealthy businessmen accused of using their friendship with President Jacob Zuma to win government contracts.
The Guptas and Zuma deny wrongdoing and say they are victims of a politically motivated witch-hunt.
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Reporting by Tiisetso Motsoeneng; Editing by James Macharia
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African Rainbow Minerals fires KPMG as auditor

New Wealth just released ‘South Africa 2017 Wealth Report’, in it the global wealth intelligence and market research company. rated the 10 greatest business men and woman in South Africa&#8217;s history based on: 
• Impact on South Africa and the world. 
• Innovation. 
• Jobs created. 
• Ability to overcome obstacles.
Below is the list.
1. Sol Kerzner 
Sol Kerzner’s impact on South Africa has been massive. Most of the top luxury hotels and resorts in the country were built by him. Some notables include: Sun City, the Lost City, Sandton Sun, the Beverley Hills Hotel, the Elangeni and the Beacon Island Hotel.
What is interesting about these hotels is not so much their success, but rather the impact they have had on the surrounding areas.
For instance, when the Beverley Hills Hotel was built in 1964, Umhlanga was a tiny resort town that most people had never heard of. However, the hotel’s success drew large numbers of wealthy people to the area and Umhlanga eventually became the main holiday hotspot for wealthy Joburgers in the 1970s, 1980s and 1990s. Then in the 2000s, Umhlanga overtook Durban to become the top prime area in Kwazulu Natal for wealthy people to live and work.
The Beacon Island in Plettenberg Bay (“Plett”) is a similar story. When the hotel was built in 1972, Plett was still a small village. However, after its success the town took off and Plett now ranks as the top second home hotspot for the super-rich in South Africa.
Last, but not least, is ofcourse Sun City. The resort, which was built by Sol Kerzner in 1979, set the benchmark for casino and golf resorts worldwide. The resort includes the spectacular Lost City, which was added in the 1990s.
Since his success in South Africa, Sol Kerzner has built several successful hotels worldwide including: Atlantis Bahamas, Atlantis Dubai, the One &amp; Only Mexico, the One &amp; Only Australia, the One &amp; Only Mauritius and the One &amp; Only Bahamas.
2. Donald Gordon 
As the founder of Liberty Life, Donald Gordon will always be remembered for what surely remains his greatest achievement &#8211; the shopping centre that set the benchmark for luxury and class worldwide. The shopping centre that the greatest city in Africa is now built around. The Monolith. Sandton City.
3. Richard Maponya 
Despite the many obstacles of the Apartheid government, Richard Maponya became a beacon of hope to the people of Soweto, starting several successful business in the area (predominantly in the retail and property space). He recently helped to develop Maponya Mall, which is one of the largest shopping centers in the country.
4. Harry Oppenheimer 
Harry Oppenheimer led South Africa’s two biggest companies (De Beers and Anglo America) through their most successful years and created more jobs than any other South African businessman in history.
Harry Oppenheimer and his wife Bridget were also keen horse breeders. They bred Horse Chestnut, which is arguably the most exceptional race horse ever bred in South Africa. Horse Chestnut was known for winning races his by large margins – he won the J&amp;B Met by over 8 lengths.
5. Pam Golding 
Pam Golding formed Pam Golding Properties in 1976 and turned it into the largest estate agency in the country. Her company has since gone onto transform the luxury residential landscape in South Africa, especially in Cape Town’s Atlantic Seaboard.
6. Adrian Gore 
Adrian Gore founded Discovery Health in 1992. His company went onto change the health insurance space in SA forever with innovative products such as Vitality. Many insurance companies overseas have now begun to copy the Discovery model and Discovery themselves have taken their products abroad with good success.
7. Nthato Motlana 
Dr. Nthato Motlana is ‘the renaissance man’ of South Africa, with successful careers in politics, medicine and business. He was the founder of NAIL and a mentor to many of the top business leaders in South Africa today. He is considered by many to be the father of economic empowerment in South Africa.
8. Patrice Motsepe 
After a successful career as a lawyer at Bowman Gilfillan, Motsepe founded ARM (African Rainbow Minerals) in 1997 and turned it into one of the largest mining and mineral groups in the world. He has since diversified into a number of other key sectors.
9. Anton Rupert 
Dr. Anton Rupert founded the Rembrandt Group in the 1940s. After initially focusing on the tobacco industry (Peter Stuyvesant), his company soon moved into industrials and luxury goods. Rembrandt has since been split into Remgro (an investment company with financial, mining and industrial interests) and Richemont (a Swiss-based luxury goods group).
Rupert was also a founding member of the WWF (World Wildlife Fund) in the 1960s.
His son Johan has since turned Richemont into one of the largest luxury goods companies in the world.
10. Douw Steyn 
Douw Steyn founded Auto General Insurance in 1985 and turned it into one of the largest insurance companies in South Africa. He has since started similarly successful businesses in the UK (Compare the Market, Budget Insurance). He recently helped to develop Steyn City in Johannesburg, which is one of the most impressive residential estates in the world.

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ARM’s headline earnings surge 134%, looks to double PGM portfolio

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African Rainbow Minerals fires KPMG as auditor

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African Rainbow Minerals

ARM’s headline earnings surge 134%, looks to double PGM portfolio

African Rainbow Minerals reports solid results in tough operating environment

Sanlam appoints ex-Old Mutual boss as new CEO

ARM CEO: What the Nkomati nickel mine closure means for company’s profitably, earnings

Why this analyst is picking ARM as his Hot Stock

African Rainbow Minerals confident of new dawn in mining

South Africa gold miners’ silicosis lawsuit settlement expected within six weeks

African Rainbow Minerals fires KPMG as auditor

S.A’s 10 greatest business leaders

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