Seven assets owned by Kenyan billionaire Humphrey Kariuki
Kariuki is one of the richest men in Kenya with businesses in real estate and hospitality, energy, beverages and infrastructure.
South Africa’s Ackerman family suffers $157-million loss from Pick ‘n Pay stake
Despite this setback, the Ackerman family remains among the country’s richest families and top investors on the local bourse.
Kenyan tycoon Baloobhai Patel transfers Bamburi cement stake to family office
Patel established Aksaya to consolidate his property, private equities, and public-traded equities into a single vehicle.
Wealth decline continues for Africa’s first Black billionaire Patrice Motsepe, as he loses another $100 million
The decline in Motsepe’s wealth can be attributed to the sustained drop in the share price of African Rainbow Minerals.
Billionaire Christo Wiese-linked retailer files for Dutch court approval for debt restructuring
Wiese-linked retailer Steinhoff files for Dutch court approval for debt restructuring as it looks to regain stability.
Adidas drops lawsuit freezing $75-million payment to Kanye West’s Yeezy brand
While this marks a victory for West, the dispute is far from over as Adidas and Yeezy will now proceed with private arbitration.
Led by Kenyan banker Nasim Devji, DTB posts impressive Q1 profits of over $17 million
Diamond Trust Bank Group reports impressive Q1 profit surge of more than $17 million, led by Devji.
America’s richest Black billionaire Robert F. Smith maintains top spot with $12 billion net worth
Smith, America’s richest Black billionaire holds firm to top spot with a whopping $12-billion net worth.
Khaled Mahmoud’s MM Group reports 201.7-percent surge in Q1 2023 profits
Mahmoud’s MM Group reports 201.7-percent surge in Q1 2023 profits, boosted by consumer electronics and automotive division.
Nigerian media mogul Raymond Dokpesi passes away at 71
Dokpesi made significant contributions to Nigeria’s media landscape, particularly with the establishment of RayPower FM.
Kenyan business mogul Peter Munga loses $1 million as Britam’s share price plummets
Munga holds a substantial 72 million shares in Britam Holdings.
7 pharma multimillionaires in Africa you should know
Meet seven African entrepreneurs who founded pharma companies worth at least $50 million.
Meet Joseph Rutakangwa, Tanzanian entrepreneur revolutionizing market intelligence in Africa
Rutakangwa’s entrepreneurial journey and the success of Rwazi highlight the transformative power of technology.
South African businessman Barry Swartzberg’s stake in Discovery plummets by $20.6 million
Swartzberg owns a 3.92-percent stake in the Sandton-based financial services group.
Mike Adenuga’s Conoil reports record $6.5 million profit in Q1 2023
Adenuga controls a majority stake of 74.4 percent in Conoil.
Jit Bhattacharya’s BasiGo to roll out 16 EV charging stations in Nairobi
The announcement was made during the launch of the firm’s first-ever public charging station in Nairobi.