Nigerian oil magnate Wale Tinubu’s Oando announces participation in $3.3-billion facility
Tinubu emphasizes ability to create value as an indigenous partner of choice in Project Gazelle as another win for Oando and Nigeria.
South African tycoon Laurie Dippenaar loses $32 million in FirstRand stake in 17 days
This decline is primarily attributed to local investors reducing their holdings in the renowned Johannesburg-based financial services provider.
Digital bank backed by Africa’s first Black billionaire hits 12.4 million customers in South Africa, Philippines
This achievement comes less than a decade after its inception and is bolstered by a significant $110 million secured in its Series C capital raise finalized in January 2024.
South Africa’s Ackerman family makes $21 million from Pick ‘n Pay stake
The Ackerman family holds a 25.53-percent stake in Pick n Pay, equivalent to 124,677,238 shares.
Nigerian oil magnate Wale Tinubu’s Oando resumes trading on Johannesburg Stock Exchange
Oando’s return to JSE is seen as a positive boost for investor confidence and market position under Wale Tinubu’s leadership.
Egypt’s wealthy Khamis family gains $11 million from Oriental Weavers stake in 6 days
The Khamis family, one of Egypt’s wealthiest, holds a majority stake in Oriental Weavers, a leading carpet manufacturer with a global presence.
Africa’s first Black billionaire Patrice Motsepe’s ARM completes $3 million share purchase in Canadian firm
The acquisition marks a significant milestone for ARM, underlining its strategic move into high-growth potential mining ventures.
Morocco’s royal family makes over $230 million from Attijariwafa Bank shares
This increase is attributed to a recent surge in the shares of the leading Moroccan bank on the Casablanca bourse.
South African businessman Christopher Seabrooke retires from Transaction Capital
Seabrooke’s decision to retire follows a series of transitions. In December 2022, he stepped down as the group’s independent non-executive chairman
South African tech mogul Zak Calisto faces $17-million loss in Karooooo stake
Despite this setback, Calisto remains one of Africa’s leading tech entrepreneurs, underscoring Karooooo’s continued prominence in smart transportation management.
Nigerian food giant majority owned by Greek businessman rakes in $1.5 billion
Despite a tough fiscal year, the group plans to reward shareholders with a proposed dividend of N7.38 billion ($4.9 million)
South African tycoon Terrence Moolman loses $3.6 million in Caxton stake in just 6 days
This setback comes after a previous gain of $5.6 million recorded between April 3 and May 20.
Africa’s richest man Aliko Dangote’s refinery makes first jet fuel export to Europe
The maiden consignment, comprising 45,000 metric tons of jet fuel, embarked on its journey to Rotterdam, Netherlands, aboard the vessel “Doric Breeze” from the Lekki Free Zone in Lagos on May 27.
Eaton under Black executive Craig Arnold deepens AI partnership with Palantir for enhanced efficiency
Eaton’s deepened partnership with Palantir under Craig Arnold is a step forward in the adoption of AI within industrial operations.
South African Saltzman family transfers $47 million in Dis-Chem shares to executives
The recent sale aligns with a broader trend in the South African retail industry, where founding families reduce their control over companies.
Nigerian energy tycoon Austin Avuru’s Seplat seals $1.28-billion deal with ExxonMobil and NNPCL
The NNPCL announced on May 30, 2024, the formalization of an agreement that transfers ExxonMobil’s interests in Mobil Producing Nigeria Unlimited (MPNU) to Seplat.