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Richemont, LVMH and Luxury Giants Take a Hit as U.S.-Israel Strikes on Iran Rattle Markets and Shut Gulf Stores
Luxury stocks from Richemont to LVMH tumbled Monday after U.S.-Israel strikes on Iran shut stores and triggered a sell-off across global markets.
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Naguib Sawiris Says Egypt's Developers Are Shrinking Home Sizes as Inflation Squeezes Buyers Out of the Market
Ora Developer chairman Naguib Sawiris says Egypt's real estate sector is shrinking unit sizes as inflation crushes buyer purchasing power nationwide.
Richemont, LVMH and Luxury Giants Take a Hit as U.S.-Israel Strikes on Iran Rattle Markets and Shut Gulf Stores
Luxury stocks from Richemont to LVMH tumbled Monday after U.S.-Israel strikes on Iran shut stores and triggered a sell-off across global markets.
Kenyan Media Tycoon SK Macharia's Helicopter Crashes, Kills MP Johana Ngeno and Five Others
A helicopter owned by media mogul SK Macharia crashed in Nandi County, killing MP Johana Ngeno and five others, as Macharia battles a prolonged insurance war.
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South African tycoon Barry Swartzberg’s Discovery stake rises above $320 million
South African billionaire Barry Swartzberg’s Discovery stake rises above $320 million as shares recover on the JSE.
Palantir CEO Alex Karp unloads $110 million in stock within 100 days
Alex Karp has sold more than $110 million in Palantir shares within 100 days amid stock volatility and tax obligations.
South African billionaire Jannie Mouton’s Capitec stake tops $1.2 billion
Jannie Mouton’s Capitec stake tops $1.2 billion as an 18-day share rally adds $67.58 million in value, cementing his position among South Africa’s financial elite.
Naguib Sawiris Says Egypt's Developers Are Shrinking Home Sizes as Inflation Squeezes Buyers Out of the Market
Ora Developer chairman Naguib Sawiris says Egypt's real estate sector is shrinking unit sizes as inflation crushes buyer purchasing power nationwide.
Oriental Weavers Gets Independent Carbon Footprint Certification, Cuts Emissions With Solar Push
Oriental Weavers completed independent carbon verification, reporting 102,000 tons of CO2e in Scope 1 and 2 emissions while pushing a bold solar expansion.
Moroccan royal family's Al mada Ventures backs WafR with co-led $4M seed round investment
Almada Ventures joins LoftyInc and Attijariwafa to fuel WafR’s expansion as it deepens digital financial access for Morocco’s small retailers.
Egyptian billionaire Hisham Talaat Moustafa’s TMG posts $381 million profit after 43% surge
Egypt’s Talaat Moustafa Group says 2025 net profit rose 43% to EGP 18.2bn, fueled by stronger real estate and hotel revenue and a larger sales backlog.
Tunisian businessman Abdelwaheb Ben Ayed’s Poulina Group moves ahead with bid for cheese maker LandOr
Poulina Group Holding has launched a bid for a majority stake in LandOr, signaling a new push to strengthen its agri food business.
Egyptian billionaire Naguib Sawiris says anger cost him €500 million in failed investment bet
Naguib Sawiris says an angry investment decision wiped out €500 million, as the Egyptian billionaire reflects on risk and discipline.
San Diego FC's billionaire owner Mohamed Mansour says club is focused on long term growth as Year 2 begins
Mohamed Mansour says San Diego FC is entering Year 2 with bigger expectations and a long term plan on and off the field.
Moroccan multimillionaire Chakib Alj moves to restart Forafric mills ahead of Ramadan demand
Chakib Alj is restocking Forafric’s mills in Meknes and Marrakesh ahead of Ramadan, tightening his grip on the debt hit flour producer.
Nigerian businessman Aderemi Makanjuola’s Caverton posts sharp Q4 revenue drop as quarterly loss narrows slightly
Caverton Offshore Support Group reported a steep Q4 revenue slide to 3.74 billion naira as its net loss eased.
Vitafoam Nigeria, partly owned by Samuel Bolarinde, sees revenue jump to $20.8 million
Vitafoam Nigeria, partly owned by Samuel Bolarinde, posts $22.8 million revenue with net profit rising to $3.3 million.
FCMB, led by Nigerian banker Ladi Balogun, doubles profit to $127.5 million in 2025
FCMB posts $127.5 million profit in 2025 as higher interest income lifts earnings despite rising costs and credit losses.
Abdul Samad Rabiu’s BUA Foods posts $366 million profit as Nigeria staples drive sales
BUA Foods reported a $366 million profit as strong demand for staples like sugar, flour, pasta and rice lifted sales and assets despite inflation pressures.
Aradel, led by Adegbite Falade, secures $250 million to expand Nigerian oil and gas operations
Aradel, led by Adegbite Falade, secures $250 million to expand oil and gas operations and increase stake in ND Western.
Nigerian business icon Adekunle Ojora passes away at 93
Adekunle Ojora, 93, renowned Nigerian business leader and investor, passes away, leaving decades of corporate impact.
OPEC’s first female president spent $2.75 million at Harrods, London court hears
Diezani Alison-Madueke, OPEC’s first female president and Nigeria’s ex-oil minister spent $2.75 million at Harrods, facing UK bribery scrutiny.
Refinery of Africa’s richest man Aliko Dangote lifts petrol prices 14 percent
Africa’s richest man Aliko Dangote raises petrol prices by 14 percent as global crude oil prices climb after U.S. supply disruptions.
Kenyan Media Tycoon SK Macharia's Helicopter Crashes, Kills MP Johana Ngeno and Five Others
A helicopter owned by media mogul SK Macharia crashed in Nandi County, killing MP Johana Ngeno and five others, as Macharia battles a prolonged insurance war.
Tycoon Patrick Bitature Returns as Umeme chairman as Ugandan power distributor posts $40.7 million Profit
Umeme posted a Sh148.2 billion profit in 2022 and reappointed Dr. Patrick Bitature as board chairman for a third consecutive term.
This Kenyan tycoon partnered with Ritz Carlton to build a Maasai Mara resort and is now facing intense backlash
Shivan Patel’s Lazizi Mara project brought Ritz Carlton to the Maasai Mara, but lawsuits and conservation protests now threaten to define the resort.
Nedbank gets waiver as bid for NCBA advances, as Kenyatta and Ndegwa families prepare for windfall
Nedbank cleared a key regulatory hurdle in its NCBA bid, putting fresh attention on the Kenyatta and Ndegwa families’ stakes.
Madagascar issues international arrest warrant for tycoon Mamy Ravatomanga over alleged lychee export fraud
Madagascar has issued an international arrest warrant for tycoon Mamy Ravatomanga, accused in a sweeping lychee export fraud and money laundering case.
Kenyan sports betting mogul Ronald Karauri enters Nairobi governor race ahead of 2027
Ronald Karauri, a businessman and Kasarani MP linked to SportPesa’s rise, has declared a 2027 bid for Nairobi governor.
20 businesses owned by Tanzanian billionaire Edha Nahdi
Inside Edha Nahdi’s 20 key businesses, from fuel and cement to logistics and smart grid technology, as Amsons expands across East Africa.
Kenyan tycoon Francis Njogu's Gulf Energy secures $15 million drilling rig
Gulf Energy chairman Francis Njogu has secured a $15 million oil rig as the company prepares to begin drilling in Turkana.
ANC Condemns PM27 Campaign as Website Pushes Patrice Motsepe for Party Presidency Despite His Denials
A campaign website is pushing billionaire Patrice Motsepe for the ANC presidency in 2027, even as he repeatedly denies any political ambition.
Former Steinhoff legal chief Stephanus Grobler fined $18.9 million by FSCA
FSCA fines former Steinhoff executive Stephanus Grobler R359m over false and misleading financial statements issued between 2014 and 2017.
Patrice Motsepe emerges in leadership speculation as South Africa debates its future
South African billionaire Patrice Motsepe is back in national leadership conversations as the country debates its future, despite his repeated denials of political ambition
Capitec's billionaire founder Michiel Le Roux donated millions to Democratic Alliance
Michiel Le Roux’s investment vehicle gave the DA another major boost as fresh disclosures showed the party taking most declared donations late last year.
Zim billionaire Strive Masiyiwa's Liquid Intelligent lands $605m funding to accelerate Africa expansion
Liquid Intelligent secures $605m in fresh funding to cut debt, strengthen its balance sheet and expand digital infrastructure across Africa.
Tech billionaire Zak Calisto moves into insurance with planned stake in King Price
Competition regulators recommended approval of a deal tied to billionaire Zak Calisto to acquire a stake in King Price, the fast growing insurer.
Zim billionaire Strive Masiyiwa breaks 26 year silence as Econet Zimbabwe quits the stock market
Strive Masiyiwa addressed Econet shareholders for the first time in 26 years as investors approved delisting from Zimbabwe’s stock exchange.
Billionaire-backed Zoho ramps up South Africa push with plans for local data centers
Zoho is considering data centers in South Africa as the Vembu family owned software firm rides a 50% surge across Africa.
Dahabshiil founder Abdirashid Duale pledges $150,000 as drought deepens in northern Somalia
Dahabshiil pledged $150,000 for drought relief in northern Somalia, with founder Abdirashid Duale urging faster action as shortages spread.
Ethiopia’s richest man Mohammed Al-Amoudi brings Carrefour into Ethiopia
Ethiopia’s richest man, Mohammed Al-Amoudi, brings Carrefour to 13 Midroc stores, marking the retailer’s first physical presence in Ethiopia.
Ethiopia’s richest man Mohammed Al-Amoudi sees wealth rebound past $8.1 billion
Mohammed Al-Amoudi’s net worth rebounds to more than $8.1 billion after a $2.42 billion gain tied to his stake in Preem.
Somali e-visa controversy: Ismail Ahmed points to Premier Bank involvement
Ismail Ahmed claims Premier Bank helped design Somalia’s e-visa system and benefits from visa fees through Empire Tech Solutions.
Ahmed Osman Guelleh, one of Djibouti's richest men, recalibrates for a tougher market
Ahmed Osman Guelleh built a logistics and beverage empire around Djibouti’s ports and Somaliland’s Coca-Cola plant. Now competition is testing his hold.
Somali businessman Abdiweli Hassan to invest $503 million in Kenya’s Tatu City
Somali businessman Abdiweli Hassan plans a $503 million mixed-use project at Kenya’s Tatu City, expanding his footprint from retail into urban development.
Ethiopian billionaire Mohammed Al-Amoudi signals return with new mega projects
Ethiopian-born Saudi billionaire Mohammed Al-Amoudi signals a return with new mega projects under MIDROC, pledging jobs and investment as Ethiopia eyes middle-income status.
Preem, linked to Ethiopian billionaire Mohammed Al-Amoudi, posts $2.7 billion in Q2 sales
Preem reports Q2 revenue below $3 billion and swings to a $93.6 million loss as refinery downtime and weaker margins weigh.
Latest Posts
Naguib Sawiris Says Egypt's Developers Are Shrinking Home Sizes as Inflation Squeezes Buyers Out of the Market
Ora Developer chairman Naguib Sawiris says Egypt's real estate sector is shrinking unit sizes as inflation crushes buyer purchasing power nationwide.
Richemont, LVMH and Luxury Giants Take a Hit as U.S.-Israel Strikes on Iran Rattle Markets and Shut Gulf Stores
Luxury stocks from Richemont to LVMH tumbled Monday after U.S.-Israel strikes on Iran shut stores and triggered a sell-off across global markets.
ANC Condemns PM27 Campaign as Website Pushes Patrice Motsepe for Party Presidency Despite His Denials
A campaign website is pushing billionaire Patrice Motsepe for the ANC presidency in 2027, even as he repeatedly denies any political ambition.
Kenyan Media Tycoon SK Macharia's Helicopter Crashes, Kills MP Johana Ngeno and Five Others
A helicopter owned by media mogul SK Macharia crashed in Nandi County, killing MP Johana Ngeno and five others, as Macharia battles a prolonged insurance war.
Tycoon Patrick Bitature Returns as Umeme chairman as Ugandan power distributor posts $40.7 million Profit
Umeme posted a Sh148.2 billion profit in 2022 and reappointed Dr. Patrick Bitature as board chairman for a third consecutive term.
Oriental Weavers Gets Independent Carbon Footprint Certification, Cuts Emissions With Solar Push
Oriental Weavers completed independent carbon verification, reporting 102,000 tons of CO2e in Scope 1 and 2 emissions while pushing a bold solar expansion.
Former Steinhoff legal chief Stephanus Grobler fined $18.9 million by FSCA
FSCA fines former Steinhoff executive Stephanus Grobler R359m over false and misleading financial statements issued between 2014 and 2017.
Mining mogul Ben Magara steers Exxaro into $575 million manganese deal
Exxaro Resources, led by CEO Ben Magara, has completed a 575 million dollar deal to acquire premier manganese assets, securing a key role in the global transition to green energy and battery manufacturing
AfDB approves $7 million backing for Saviu to power Francophone startups
AfDB commits €6.5M to Saviu II fund, targeting early stage tech startups in Francophone West and Central Africa amid slowing venture capital flows.
Nigerian aviation mogul Allen Onyema expands Air Peace global reach with Travelport deal
Allen Onyema has secured a global Travelport distribution deal, expanding Air Peace digital reach across Africa, Europe and Asia.
Patrice Motsepe emerges in leadership speculation as South Africa debates its future
South African billionaire Patrice Motsepe is back in national leadership conversations as the country debates its future, despite his repeated denials of political ambition
MTN Nigeria pays $429.7 million in 2025 taxes as new fiscal regime lifts corporate levies
MTN Nigeria posts a $429.7 million tax bill in 2025 under Nigeria’s new tax regime, even as profit before tax surged past $1 billion for the first time
Capitec's billionaire founder Michiel Le Roux donated millions to Democratic Alliance
Michiel Le Roux’s investment vehicle gave the DA another major boost as fresh disclosures showed the party taking most declared donations late last year.
Zim billionaire Strive Masiyiwa's Liquid Intelligent lands $605m funding to accelerate Africa expansion
Liquid Intelligent secures $605m in fresh funding to cut debt, strengthen its balance sheet and expand digital infrastructure across Africa.
Aliko Dangote's cement company seals $1 billion Sinoma deal to expand across Africa
Dangote Cement signs a $1bn Sinoma deal to expand plants, boost capacity and strengthen its footprint across Africa.
Nigeria’s Tompolo fights to keep $35 million pipeline security deal as Tinubu weighs changes
Tompolo is pushing to retain a pipeline security contract worth about N48 billion a year as rivals circle and the government reviews the deal.
