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David Steward secures position as richest Black billionaire in U.S. with $12.7-billion fortune
This spike in his wealth has re-established Steward at the top after a series of fluctuations earlier this year.
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Egyptian billionaire Ahmed Ezz’s steel group posts $460-million profit in H1 2024
This marks a substantial recovery from the loss the company recorded during the same period in 2023.
Eswatini’s richest man Natie Kirsh gains $1.66 billion in 2024
Kirsh, now ranked 286th globally, is the only African billionaire to gain more than $1.5 billion in 2024.
Truworths CEO Michael Mark earns over $11 million in 10 years despite underperforming share price
Key Points * Truworths International's shares have risen only seven percent over the past decade, underperforming the JSE Top 40's 130-percent compounded return. * CEO Michael Mark received R206.6 million in remuneration over ten years, with his base salary increasing by 76 percent despite the company'
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David Steward secures position as richest Black billionaire in U.S. with $12.7-billion fortune
This spike in his wealth has re-established Steward at the top after a series of fluctuations earlier this year.
South African billionaire Michiel Le Roux's Capitec Bank stake soars above $2.2 billion
Le Roux's stake in Capitec Bank has increased by $95.3 million in just two weeks, reflecting significant gains.
Eswatini’s richest man Natie Kirsh gains $1.66 billion in 2024
Kirsh, now ranked 286th globally, is the only African billionaire to gain more than $1.5 billion in 2024.
Egyptian billionaire Ahmed Ezz’s steel group posts $460-million profit in H1 2024
This marks a substantial recovery from the loss the company recorded during the same period in 2023.
OCI, owned by Egypt’s richest man Nassef Sawiris, to sell methanol business for $2.05 billion
The $2.05-billion deal includes U.S. and European assets and a stake in Natgasoline LLC.
Egyptian fintech founder Islam Shawky’s Paymob raises $22 million
The latest funding follows a $50-million Series-B round in 2022 led by PayPal Ventures, Kora Capital and Clay Point.
Egyptian mogul Abdallah Sallam's Madinet Masr unveils new luxury project in Mostakbal City
Madinet Masr, led by Abdallah Sallam, launches luxury project in Mostakbal City.
Egyptian tycoon Hani Berzi’s Edita Foods stake declines by $9.3 million
Hani Berzi’s fortune dips by over $9 million as Edita Foods shares slide.
Real estate investment could elevate Anas Sefrioui back to Moroccan billionaire ranks
Moroccan businessman Anas Sefrioui sees $143-million gain on ADH stake
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.
Nigerian businessman Tony Elumelu's UBA targets $20-trillion revenue in 25 years
The goal, announced by UBA Group Managing Director and CEO Oliver Alawuba, underscores the bank’s vision to become one of the world’s top 10 banks over the next 25 years.
Access Bank linked to Nigerian banker Aigboje Aig-Imoukhuede secures new deal to boost SME lending in Ghana
The partnership is expected to drive economic growth, job creation, and particularly support women-owned businesses in the country.
Nigerian banker Segun Agbaje leads GTCO to $552-million profit in H1 2024
This aligns with GTCO's ambitious target to become the first Nigerian company to achieve a $1 billion profit milestone.
Nigerian billionaire Femi Otedola lauds Aliko Dangote’s refinery as fuel distribution begins
The Dangote Oil Refinery, which started loading petrol into trucks on Sun., Sept. 15, is seen as a breakthrough in Nigeria’s decades-long struggle with fuel imports and shortages.
Nigerian billionaire Aliko Dangote tops Africa’s richest list again
Dangote has reclaimed the title of Africa’s richest person, surpassing South African Johann Rupert, according to Bloomberg and Forbes data.
Nigerian banker Ladi Balogun-led FCMB Group completes initial phase of capital raise
This move is aimed at strengthening the bank's financial foundation and supporting its expansion within Africa's financial markets.
Nigerian insurance tycoon Wole Oshin’s Custodian projects $18-million profit for Q4 2024
Custodian Investment expects a 119.74-percent profit increase in Q4 2024, with after-tax profit projected to reach N30.98 billion ($18 million).
Nigerian billionaire Femi Otedola’s FBN Holdings to divest merchant banking unit
FBN Holdings, led by Femi Otedola, is selling its 100-percent stake in FBNQuest Merchant Bank to streamline operations and focus on core banking.
Indian billionaire Gautam Adani's energy firm pushes on with transmission deal in Kenya
This clarification comes after a presidential adviser previously suggested that deals worth up to $1.3 billion had been finalized.
Bamburi Cement, linked to Kenyan tycoon Baloobhai Patel, receives new $193.7-million offer
Savannah Clinker has proposed purchasing all 362.9 million shares of Bamburi at Ksh70 ($0.54) per share.
Zimbabwean billionaire Strive Masiyiwa boosts capacity for cross-border services in East Africa
This underscores Liquid’s commitment to enhancing East Africa's digital infrastructure as competition in the region intensifies.
Kenyan court halts India’s second-richest man Gautam Adani’s airport lease deal
The Law Society of Kenya (LSK) and the Kenya Human Rights Commission (KHRC) filed a joint application urging the court to block the agreement.
NCBA, backed by Kenya’s richest families, invests $5 million in cybersecurity
NCBA Bank invests Ksh644 million ($5 million) in cybersecurity, enhancing firewalls amid rising cyber threats in Kenya.
Antoine Delaporte’s Adenia sells African payment firm to SPE Capital
Adenia Partners has sold its entire stake in OMOA Group to SPE Capital, marking the completion of its €96-million ($106 million) Adenia Capital III fund.
Daniel Yu's Wasoko merges with MaxAB to form Africa’s largest informal retail platform
This all-stock deal creates the continent’s largest digital platform for the informal retail market, marking a turning point in the sector's consolidation and cross-border expansion.
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.
South African billionaire Michiel Le Roux's Capitec Bank stake soars above $2.2 billion
Le Roux's stake in Capitec Bank has increased by $95.3 million in just two weeks, reflecting significant gains.
Eswatini’s richest man Natie Kirsh gains $1.66 billion in 2024
Kirsh, now ranked 286th globally, is the only African billionaire to gain more than $1.5 billion in 2024.
South African billionaire Johann Rupert’s Richemont seals acquisition of Italian jewelry brand
The move expands Richemont’s “Jewellery Maisons” division, which includes brands like Cartier and Van Cleef & Arpels.
South African billionaire Nicky Oppenheimer’s wealth surges by $1.43 billion in 2024
Oppenheimer’s net worth has risen from $9.85 billion at the start of the year to $11.3 billion, solidifying his place among the world’s wealthiest individuals.
Sasol names South African executive Muriel Dube as new chair amid strategic shift
Her appointment comes at a pivotal moment for Sasol, which is repositioning itself in the energy market by expanding its natural gas operations.
Elon Musk’s Starlink plans South Africa launch despite regulatory hurdles
South African President Cyril Ramaphosa confirmed the discussions, underscoring the potential for deeper collaboration with the U.S. billionaire.
Zimbabwean billionaire Strive Masiyiwa boosts capacity for cross-border services in East Africa
This underscores Liquid’s commitment to enhancing East Africa's digital infrastructure as competition in the region intensifies.
Nigerian billionaire Aliko Dangote tops Africa’s richest list again
Dangote has reclaimed the title of Africa’s richest person, surpassing South African Johann Rupert, according to Bloomberg and Forbes data.
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.
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South African tycoon Adrian Gore’s Discovery posts $411.6 million in earnings in FY 2024
The group’s results for the 2024 fiscal year showcase a headline earnings figure amounting to $411.6 million.
Nigerian businessman Tony Elumelu's UBA targets $20-trillion revenue in 25 years
The goal, announced by UBA Group Managing Director and CEO Oliver Alawuba, underscores the bank’s vision to become one of the world’s top 10 banks over the next 25 years.
Banking mogul Yemi Odubiyi secures $45-million capital boost for Sterling HoldCo
Banking mogul Yemi Odubiyi leads Sterling HoldCo's $45-million capital injection, demonstrating investor confidence in the company's innovative strategies and long-term value creation.
South Africa’s richest man Johann Rupert boosts Remgro dividend despite 20-percent earnings decline
South Africa’s richest man Johann Rupert boosts Remgro’s dividend by 10% despite a 20-percent earnings decline, emphasizing long-term value creation amid challenging market conditions.
South African insurance tycoon Adrian Gore leads Discovery's 38-percent dividend lift as profits surge
Discovery Bank grew its client base by 36 percent, despite a 41-percent drop in profit.
Fidson, owned by Nigerian tycoon Fidelis Ayebae, strikes deal to establish pharmaceutical plant
The deal is part of a broader initiative to enhance self-sufficiency in Africa’s healthcare infrastructure, particularly in the battle against HIV.
David Steward secures position as richest Black billionaire in U.S. with $12.7-billion fortune
This spike in his wealth has re-established Steward at the top after a series of fluctuations earlier this year.
Kenyan telecom tycoon Peter Ndegwa launches new Safaricom airtime plan to lift revenue
Ndegwa launches Safaricom's Sh1 airtime purchase option via M-Pesa, aiming to attract low-budget consumers and drive revenue growth.
South African banking mogul Sim Tshabalala leads Standard Bank's Mauritius offshore expansion
South African banking mogul Sim Tshabalala leads Standard Bank's Mauritius offshore expansion, providing African businesses with secure access to international financial services.
Jumia Nigeria CEO Sunil Natraj leads rural e-commerce expansion to boost market reach
Jumia Nigeria CEO Sunil Natraj drives the rural e-commerce expansion targeting underserved areas in Nigeria.
African-American billionaire Alex Karp's Palantir partners with Nebraska Medicine in multimillion-dollar healthcare deal
This builds on earlier collaboration which started in January 2024 sharing a mission to solve critical healthcare problems rapidly.
Egyptian billionaire Ahmed Ezz’s steel group posts $460-million profit in H1 2024
This marks a substantial recovery from the loss the company recorded during the same period in 2023.
South African billionaire Michiel Le Roux's Capitec Bank stake soars above $2.2 billion
Le Roux's stake in Capitec Bank has increased by $95.3 million in just two weeks, reflecting significant gains.
Boxing legend Floyd Mayweather lists Beverly Hills mansion for $48 million
Boxing legend Floyd Mayweather lists his Beverly Hills mansion for $48 million, nearly doubling the price he paid in 2017, as part of his extensive real estate investments.
OCI, owned by Egypt’s richest man Nassef Sawiris, to sell methanol business for $2.05 billion
The $2.05-billion deal includes U.S. and European assets and a stake in Natgasoline LLC.
Eswatini’s richest man Natie Kirsh gains $1.66 billion in 2024
Kirsh, now ranked 286th globally, is the only African billionaire to gain more than $1.5 billion in 2024.