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Patrice Motsepe’s African Rainbow Minerals reports lowest profit in seven years
ARM, led by Africa’s first Black billionaire Patrice Motsepe, reports its lowest profit in seven years due to rising costs and a tough operating environment.
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Adrian Gore’s Discovery stake nears $750 million
South African insurance tycoon Adrian Gore nears billionaire status amid Discovery’s strong performance.
Khamis family faces nearly $10-million loss from Oriental Weavers stake
The Khamis family's shares in Oriental Weavers have dropped nearly $10 million due to recent selling pressures on the EGX.
Battle for Africa’s richest: Johann Rupert’s wealth drops by $900 million, Dangote set to overtake
According to Bloomberg, Johann Rupert edges Aliko Dangote by $100 million, with a net worth of $13.4 billion vs. Dangote's $13.3 billion.
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Naguib Sawiris lists Almaza Bay estate for $12.5 million
Egypt’s second-richest man Naguib Sawiris to sell coastal property amid investment expansion.
Adrian Gore’s Discovery stake nears $750 million
South African insurance tycoon Adrian Gore nears billionaire status amid Discovery’s strong performance.
Shoprite, linked to South African billionaire Christo Wiese, to sell furniture unit to Pepkor for $179 million
The sale includes the OK Furniture and House & Home brands, as well as Shoprite's credit loan book, insurance arrangements, inventory, and certain fixed assets.
Naguib Sawiris lists Almaza Bay estate for $12.5 million
Egypt’s second-richest man Naguib Sawiris to sell coastal property amid investment expansion.
Khamis family faces nearly $10-million loss from Oriental Weavers stake
The Khamis family's shares in Oriental Weavers have dropped nearly $10 million due to recent selling pressures on the EGX.
Sue Nabi’s stake in U.S. beauty giant falls below $300 million
Algerian-born executive Sue Nabi's net worth takes a hit as her stake in the beauty giant plummets below $300 million.
Azza Elsewedy becomes top female investor on EGX with $80-million stake in Elsewedy Electric
Elsewedy claims the top spot on the Egyptian Exchange with stake in multinational cable and electrical equipment manufacturer, Elsewedy Electric.
Yasseen Mansour’s Palm Hills reports $225-million revenue in H1 2024
Palm Hills Developments reports robust H1 2024 performance, surpasses revenue expectations.
Nassef Sawiris approaches $10-billion net worth: Key companies driving his wealth
Egyptian billionaire Nassef Sawiris' net worth nears $10 billion, up $1.26 billion this year, thanks to strong performance in OCI and Adidas stocks.
Egyptian billionaire Samih Sawiris’ firm makes strategic $6.8-million property sale
Orascom Development Egypt sells commercial property in O West to Seoudi Supermarket for EGP332 million ($6.8 million).
Egyptian businesswoman Hend El-Sherbini’s IDH posts $51.4-million revenue in H1 2024
IDH's core markets of Egypt and Jordan demonstrated strong performance, highlighting resilience despite regional challenges.
Battle for Africa’s richest: Johann Rupert’s wealth drops by $900 million, Dangote set to overtake
According to Bloomberg, Johann Rupert edges Aliko Dangote by $100 million, with a net worth of $13.4 billion vs. Dangote's $13.3 billion.
Ladi Jadesimi's Aradel becomes Nigeria’s latest billion-dollar energy group with $1.2-billion market cap
Aradel Holdings has surged past the $1 billion valuation mark, with its market capitalization exceeding $1.2 billion
Nigeria's Adebayo Ogunlesi joins Forbes billionaires list with $1.7-billion fortune
Adebayo Ogunlesi joins Africa’s billionaire ranks, propelled by a $12.5-billion BlackRock deal.
Nigerian tycoon Dozy Mmobuosi faces $250-million fine and U.S. corporate ban
A U.S. federal court has ordered Mmobuosi to pay over $250 million in fines and barred him from serving as a director of any public company.
Nigeria’s richest man Aliko Dangote set to roll out petrol from landmark refinery
The $20 billion refinery recently completed a critical test run of its 650,000 barrels-per-day capacity, a significant step towards the official market rollout.
Gabonese tycoon Samuel Dossou-Aworet’s $86-million stake in London-based Tullow highlights global energy interests
Dossou-Aworet leads Petrolin Group, a powerhouse in Africa's oil and gas sector, where he has brokered landmark deals and investments since 1992.
Edward Kirathe’s Acorn secures plot for first hostel outside Nairobi
Acorn Holdings, led by Kenyan real estate magnate Edward Kirathe, expands student housing with new land acquisition in Eldoret.
Equity Group, led by star Kenyan banker James Mwangi, to raise salaries for female employees
Equity Group, led by Kenyan banker James Mwangi to increase salaries for female employees to narrow the gender pay gap and promote pay equity.
Gautam Adani launches airport unit in Kenya
The Kenya entry supports India's second-richest man, Gautam Adani's goal of modernizing airport infrastructure in the region.
Patrice Motsepe’s African Rainbow Minerals reports lowest profit in seven years
ARM, led by Africa’s first Black billionaire Patrice Motsepe, reports its lowest profit in seven years due to rising costs and a tough operating environment.
Sanlam, backed by Patrice Motsepe, posts $636-million profit in H1 2024
Sanlam, partly owned by Patrice Motsepe, reports a $636-million profit for the first half of 2024, fueled by strong performance across its diverse business segments.
Adrian Gore’s Discovery stake nears $750 million
South African insurance tycoon Adrian Gore nears billionaire status amid Discovery’s strong performance.
Shoprite, linked to South African billionaire Christo Wiese, to sell furniture unit to Pepkor for $179 million
The sale includes the OK Furniture and House & Home brands, as well as Shoprite's credit loan book, insurance arrangements, inventory, and certain fixed assets.
Hitesh Anadkat-backed Letshego to award free shares to employees
This strategic move aims to align employee interests with shareholders and comply with the Banking Institutions Act of 2023.
Battle for Africa’s richest: Johann Rupert’s wealth drops by $900 million, Dangote set to overtake
According to Bloomberg, Johann Rupert edges Aliko Dangote by $100 million, with a net worth of $13.4 billion vs. Dangote's $13.3 billion.
Saltzman family’s stake in Dis-Chem drops below $600 million
Renowned South African family’s net worth takes a hit as stake in Dis-chem declines.
Christo Wiese's Shoprite reports $348-million profit in 2024
Shoprite Holdings reports robust 2024 financial performance amidst economic challenges.
Ethiopia’s richest man Mohammed Al-Amoudi’s fortune rises $190 million in 19 days
Al-Amoudi’s net worth has jumped from $9.12 billion on April 26 to $9.31 billion as of this report. This translates to an average daily gain of $10 million since April 26.
Ethiopia’s richest man Mohammed Al-Amoudi loses $260 million in two weeks
This follows a $320-million gain in Al-Amoudi’s net worth between March 28 and April 12.
Ethiopia’s richest man Mohammed Al-Amoudi’s Preem posts $12.6-billion revenue in 2023
Al-Amoudi derives a significant portion of his wealth from his stake in Preem, which surged from $3.74 billion on Jan. 1 to $3.88 billion recently.
Ethiopia’s richest man Mohammed Al-Amoudi gains $320 million in 15 days
The recent uptick in his fortune is mainly credited to the strong performance of his broad industrial investments in Sweden, Saudi Arabia, and Ethiopia.
Ethiopia’s richest man loses $100 million in just 6 days
Ethiopia’s richest man Mohammed Al-Amoudi’s net worth has declined by $100 million in just six days, the latest setback in a string of wealth declines.
Ethiopia’s richest man Mohammed Al-Amoudi loses $160 million in 3 weeks
Al-Amoudi’s fortune has dwindled from $9.29 billion on Feb. 25 to $9.13 billion.
U.S. firm Vaalco Energy in talks to acquire oil company of Ethiopia’s richest man
For Mohammed Al-Amoudi, this potential deal represents an opportunity to derive further value from his investments in the oil and gas industry.
Ethiopia’s richest man Mohammed Al-Amoudi gains $130 million in two weeks
The surge in his fortune propels Al-Amoudi to 259th place on the prestigious list of the world’s 500 wealthiest billionaires.
Latest Posts
Patrice Motsepe’s African Rainbow Minerals reports lowest profit in seven years
ARM, led by Africa’s first Black billionaire Patrice Motsepe, reports its lowest profit in seven years due to rising costs and a tough operating environment.
Edward Kirathe’s Acorn secures plot for first hostel outside Nairobi
Acorn Holdings, led by Kenyan real estate magnate Edward Kirathe, expands student housing with new land acquisition in Eldoret.
Sanlam, backed by Patrice Motsepe, posts $636-million profit in H1 2024
Sanlam, partly owned by Patrice Motsepe, reports a $636-million profit for the first half of 2024, fueled by strong performance across its diverse business segments.
Craig Arnold, one of America’s top Black CEOs, faces $10.2-million loss
Black CEO Craig Arnold's net worth drops as his stake in the power management company falls below $150 million.
Naguib Sawiris lists Almaza Bay estate for $12.5 million
Egypt’s second-richest man Naguib Sawiris to sell coastal property amid investment expansion.
Adrian Gore’s Discovery stake nears $750 million
South African insurance tycoon Adrian Gore nears billionaire status amid Discovery’s strong performance.
Equity Group, led by star Kenyan banker James Mwangi, to raise salaries for female employees
Equity Group, led by Kenyan banker James Mwangi to increase salaries for female employees to narrow the gender pay gap and promote pay equity.
Shoprite, linked to South African billionaire Christo Wiese, to sell furniture unit to Pepkor for $179 million
The sale includes the OK Furniture and House & Home brands, as well as Shoprite's credit loan book, insurance arrangements, inventory, and certain fixed assets.
Hitesh Anadkat-backed Letshego to award free shares to employees
This strategic move aims to align employee interests with shareholders and comply with the Banking Institutions Act of 2023.
Khamis family faces nearly $10-million loss from Oriental Weavers stake
The Khamis family's shares in Oriental Weavers have dropped nearly $10 million due to recent selling pressures on the EGX.
Battle for Africa’s richest: Johann Rupert’s wealth drops by $900 million, Dangote set to overtake
According to Bloomberg, Johann Rupert edges Aliko Dangote by $100 million, with a net worth of $13.4 billion vs. Dangote's $13.3 billion.
Saltzman family’s stake in Dis-Chem drops below $600 million
Renowned South African family’s net worth takes a hit as stake in Dis-chem declines.
Christo Wiese's Shoprite reports $348-million profit in 2024
Shoprite Holdings reports robust 2024 financial performance amidst economic challenges.
Woolworths, led by Group CEO Roy Bagattini, posts $4.3-billion revenue in 2024
The company's revenue surged to $4.3 billion, primarily driven by strong sales growth in its core South African operations.
Gautam Adani launches airport unit in Kenya
The Kenya entry supports India's second-richest man, Gautam Adani's goal of modernizing airport infrastructure in the region.
Sue Nabi’s stake in U.S. beauty giant falls below $300 million
Algerian-born executive Sue Nabi's net worth takes a hit as her stake in the beauty giant plummets below $300 million.
