Sasini, controlled by Kenya’s wealthy Merali family posts $22 million in revenue in H1 2024
The Merali family holds a majority stake of 65.46 percent in Sasini Plc, valued at approximately $25 million.
Ugandan tycoon Charles Mbire’s MTN Uganda posts $40-million profit in Q1 2024
This strong performance builds on MTN Uganda’s success in 2023, with total revenue rising 16.75 percent to Ush2.67 trillion ($687.97 million).
South African tycoon Laurie Dippenaar’s FirstRand gets nod for $16.2-million bond listing
This issuance brings the total amount outstanding under the company’s seven-year bond program to R41.01 billion ($2.22 billion).
James Mwangi-led Equity Group’s life insurance unit shakes up Kenya market
Equity Life’s rise coincides with Mwangi’s continued regional expansion of Equity Group across East and Central Africa.
South African tycoon Jonathan Jawno gains $3 million from Transaction Capital stake
Jawno, a founding member of Transaction Capital, holds a 9.59-percent stake in the group, amounting to 72,667,000 ordinary shares.
South African tycoon Giovanni Ravazzotti takes $9.1-million hit from Italtile stake
As a result of the recent share price decline, Ravazzotti, who founded Italtile in 1969 and owns a 33.88-percent stake (447,746,694 shares).
South African businessman Des de Beer’s trust secures approval for $447-million bond listing
Rand Merchant Bank, a division of FirstRand, assumed the role of debt sponsor, further bolstering confidence in Resilient’s financial endeavors.
Absa Group, led by South African exec Arrie Rautenbach, unveils $3.2-billion bond program
Rautenbach, a veteran South African banker with deep financial services expertise, holds a 0.026 percent stake (218,412 shares) in Absa Group.
African-American billionaire Alex Karp makes $200 million in 20 days
With the surge in Palantir shares and the recent boost in his net worth, Karp has reinforced his standing among the world’s Black billionaires.
South African tech mogul Zak Calisto loses $79.2 million from Karooooo shares
Despite the decrease in his stake in Karooooo, Calisto remains one of Africa’s top tech entrepreneurs.
Bank led by South African exec Kennedy Bungane takes stake in Johann Rupert-backed Grindrod
The acquisition bolsters African Bank’s presence within the small and medium-sized enterprise (SME) segment, a key growth area for the bank.
Moroccan real estate tycoon Alami Lazraq loses $57.4 million from ADI stake
Despite this setback, Lazraq remains one of the wealthiest investors on the Casablanca bourse and continues to be recognized as a prominent Moroccan businessman.
Aga Khan IV’s AKHS unveils $6-million cancer care center in Tanzania
The Aga Khan Health Services (AKHS) is one of three AKDN agencies with a health focus, alongside the Aga Khan Foundation and the Aga Khan University.
Nigeria’s richest banker Jim Ovia’s Zenith Bank posts $188-million profit in Q1 2024
Building on a record-breaking 2023, when profit rose 202.3 percent to N676.91 billion ($522.03 million), Zenith Bank’s Q1 2024 profit jumped 291.35 percent year-over-year.
Nigerian banker Segun Agbaje-led GTCO reports Q1 2024 profit of $328.8 million
Building on a strong 2023 performance, with profit rising 219 percent to $470.1 million, GTCO’s first-quarter profit jumped 685.9 percent year-over-year.
Eaton under Black CEO Craig Arnold reports Q1 2024 sales topping $5.9 billion
The Arnold-led intelligent power management company benefited from robust demand in its Electrical Americas segment.