Tanzanian multimillionaire Seif Ali Seif to acquire South Africa’s Tongaat Hulett
Ali Seif and his family are the beneficial owners of Kagera Sugar Group which is a subsidiary of the their conglomerate, Super Group.
Adidas claims Kanye West squandered $75 million intended for Yeezy collection marketing
Adidas claims that $75 million was transferred to two of Yeezy and West’s bank accounts, but both parties “mishandled virtually all of the marketing funds.”
South African tycoon Gareth Ackerman raises alarm over government’s empowerment policy revisions
As the scion of the Ackerman family, one of the richest families in South Africa, Gareth Ackerman’s views carry considerable weight in the business community.
Logistics company linked to Zambian tycoon Valentine Chitalu buys UK logistics firm Amco for $39.2 million
Chaired by Chitalu, Super Group’s strategic focus revolves around selective acquisitions in its core supply chain, fleet solutions, and dealerships businesses.
Wealthy Tunisian Ben Yedder family loses more than $5 million in 64 days
Despite the recent $5.44-million decline, the Ben Yedder family continues to stand as one of Tunisia’s most affluent families.
Jay-Z’s foundation raises $20 million to help socioeconomically disadvantaged individuals
Through the dedication of Jay-Z and Gloria Carter, the foundation’s legacy shines as a beacon of hope and opportunity for countless young minds.
U.S. entrepreneur drives Cairo-based startup to successful $6-million funding round
U.S. entrepreneur Erik Gordon has spearheaded the success of Cairo-based fintech startup Flash in its latest funding round.
Meikles’ shares plunge spells $140-million loss for Zimbabwean tycoon John Moxon
Despite this multimillion-dollar slump, Moxon remains one of the richest investors on the Zimbabwe Stock Exchange.
Tony Elumelu’s wife, Awele, loses $2.6 million in six days as Transcorp shares slump
With the acquisition of an additional 7.3 million shares in Transcorp in June, Awele Elumelu’s total holdings in the company now stand at an impressive 2,070,794,804 shares.
Egyptian billionaire Naguib Sawiris to invest in Iraq real estate
Sawiris is venturing into Iraq’s real estate development sector after nearly two decades of focusing on the communications sector.
Kenyan tycoon Suresh Bhagwanji Shah’s stake in I&M Bank surges by $1.4 million in 29 days
The $1.45-million increase solidifies Shah’s position as one of the richest investors on the Nairobi Securities Exchange.
Dar es Salaam-based tycoon Hans Macha loses over $1 million in 84 days
Macha, ranked as one of the richest investors on the local bourse, owns 1.9 percent of CRDB Bank, equivalent to 32,764,200 shares.
Bank led by Kenyan tycoon Gideon Muriuki secures $100-million loan to empower small businesses in Kenya
Muriuki, the managing director of Co-op Bank, said the facility will empower to fulfil the financing requirements of MSMEs.
Firm linked to late Kenyan tycoon Chris Kirubi’s heirs posts $1.23 million in profit in 2023
Centum RE is a property developer linked to Robert Kirubi and Mary-Ann Musangi, heirs to the late tycoon Chris Kirubi’s business empire.
Sean ‘Diddy’ Combs unveils innovative e-commerce platform to empower Black entrepreneurs
Combs expressed his mission to empower Black entrepreneurs by providing them with the necessary resources to build successful businesses.
Nigerian tycoon Dahiru Mangal’s Max Air suspended over safety concerns
Mangal, the owner of Max Air, owns Afdin Group, which owns an LPG Plant, rice mills and fertilizer blending plants.