Egyptian tycoon Ashraf Sabry’s Fawry and LA Market join forces to boost local businesses
Fawry, with esteemed shareholders including the National Bank of Egypt and Banque Misr, has positioned itself as a key player in Africa’s fintech landscape.
Patrice Motsepe’s stake in ARM declines by $137 million
Motsepe, Africa’s first Black billionaire and a prominent South African tycoon, holds a 45.9-percent stake in ARM, or 89,905,401 shares.
South African billionaire Christo Wiese loses $30 million from Shoprite stake
Wiese holds a 10.67-percent stake in Shoprite, equivalent to 63,110,920 shares valued at over $850 million.
South African tycoon Neal Froneman-led Sibanye cuts 2,600 jobs at platinum mines
Froneman emphasized the necessity of these measures, affirming that the restructuring initiative aims to salvage the sustainability of the company’s operations.
South African tycoon Giovanni Ravazzotti’s Italtile posts $250 million in half-year revenue
Italtile, controlled by Ravazzotti, recorded revenue amounting to $250.01 million in the first half of its 2024 fiscal year, highlighting operational resilience.
Mauritian tycoon Arnaud Lagesse’s IBL nearly doubles half-year revenue to over $1.1 billion
Arnaud Lagesse, along with his siblings Benoit, Hugues, Jean-Pierre, Thierry, and Stephane Lagesse, collectively holds a substantial 16.8-percent joint stake in IBL Group.
Nigerian tycoon Wale Tinubu promotes resilient oil and gas value chain at Guyana Energy Conference
At the Guyana Energy Conference, Tinubu emphasized the imperative of fostering conducive environments for the oil and gas industry’s growth.
New York Judge upholds seizure of Damon Dash’s shares, despite Jay-Z’s protests
The court’s decision comes in the wake of Dash’s alleged refusal to pay a $823,000 judgment to movie producer Josh Weber, dating back to a 2018 dispute.
Laurence Rapp-led Vukile raises $18.9 million for deals in Spain and South Africa
The move is aimed at fortifying the fund’s balance sheet, providing it with increased financial flexibility for potential acquisitions in both South Africa and Spain.
Tiger Woods launches ‘Sun Day Red’ clothing line after Nike split
Named after Woods’ signature choice of attire for the final rounds of tournaments, the “Sun Day Red” brand is a reflection of his legacy in the world of golf.
Companies owned by the world’s first Black billionaire Robert L. Johnson
Using the proceeds from the sale of BET, he has invested in new ventures, leveraging his expertise to construct a varied portfolio of companies through The RLJ Companies.
Zimbabwean businessman John Moxon’s Meikles stake slumps below $7 million
Moxon, who played a pivotal role in transforming Meikles Limited into one of Zimbabwe’s leading conglomerates, owns a 10.8-percent stake in the group.
South African-British billionaire Clive Calder gains $100 million in just 2 days
The recent $100-million surge in Calder’s fortune, pushing his year-to-date wealth gains to $250 million is tied to the performance of his privately owned assets.
South African tycoon Giovanni Ravazzotti loses $31.5 million from Italtile stake
Ravazzotti, a top figure in the South African business arena, owns a 33.88-percent stake in Italtile — this amounts to a total of 447,746,694 shares in the company.
South Africa’s richest man Johann Rupert gains $500 million in just 9 days
Rupert has cemented his status as South Africa’s richest individual, maintaining his lead over fellow South African magnate Nicky Oppenheimer.
South African executive Michael Koursaris pockets $1-million salary in 2023
Koursaris started at AVI in 2002 as a business development analyst and rose to become a business development executive in January 2011.