Egyptian brothers, Ahmed and Sadek El-Sewedy, emerge as Egypt’s newest billionaires
The rise in the El-Sewedy brothers' fortunes is attributed to an 80.6-percent increase in Elsewedy Electric's share price.
Geregu Power’s profit more than doubles to $15 million in 9M 2024
Total assets rose 21 percent to N221.09 billion ($136.4 million), reflecting strong growth and strategic investments under billionaire Femi Otedola's leadership.
Egyptian multimillionaire Ghabbour family’s stake in GB Corp rebounds above $200 million
This follows an $18.27-million loss between July 18 and Aug. 15, when the market value of their holdings declined from $207.2 million to $188.93 million.
Mondi to acquire Schumacher packaging assets in $682-million deal, expanding European presence
The addition of Schumacher’s assets will increase Mondi’s capacity to produce fiber-based products, offering more sustainable alternatives to plastic packaging.
Royal Bank of Canada increases stake in South African retailer Clicks
Royal Bank of Canada increases stake in Bertina Engelbrecht-led Clicks Group, solidifying position as major shareholder.
Nigerian billionaire Femi Otedola's wealth rises $200 million in 12 days despite naira's ongoing decline
This brings his fortune to $1.6 billion, cementing his position as one of Africa’s richest and most influential businessmen.
Moroccan tycoon Adil Douiri's stake in packaged food company nears $20 million
As Douiri's fortune rises, his strategic vision for Mutandis cements his role as a key player in Morocco's business landscape and a leader in the region's consumer goods sector.
NNPC ends exclusive deal with Dangote’s refinery, opens portal for direct fuel supply
Nigeria’s state-owned oil company ends exclusive agreement with Dangote’s refinery, opens fuel market to competition.
South African fund manager eyes stake in ports company owned by Mombasa-based Mohamed Jaffer
This move is part of AIIM's strategy to expand its investments in African infrastructure, particularly in logistics.
Burkinabe tycoon Mahamadou Bonkoungou provides aircraft to Togolese Air Force
Burkinabe tycoon Mahamadou Bonkoungou strengthens ties with military support.
Strive Masiyiwa, Zimbabwe's richest man, honored with Harvard's top award in African and African American studies
In recent years, Masiyiwa, along with his wife, Tsitsi, has focused on public health challenges, taking a leading role in combating HIV/AIDS, Ebola, malnutrition, and COVID-19.
Nigeria's richest person loses $10.6 billion in 250 days amid weak naira, failed merger, and investor sell-off
Nigerian billionaire Aliko Dangote loses $11 billion in 250 days due to naira decline, failed merger, and market sell-off.
Court orders Kenyan media mogul Samuel Macharia to repay $3.1 million to Directline Assurance
Justice Alfred Mabeya, in his ruling, stated that the transfer of funds by Macharia, 82, was illegal and intended to financially cripple the company.
Ghanaian businessman Kevin Okyere’s Springfield secures deepsea rig for Afina well appraisal in Ghana
Located in the West Cape Three Points Block 2 (WCTP-2), deep offshore Ghana, the Afina-1x well is pivotal to the company’s long-term oil production strategy.
U.S. tech billionaire David Steward overtakes Aliko Dangote as world's richest Black person
In just two years, Steward's wealth has nearly doubled, up from $6 billion in 2022 to $7.6 billion in 2023, before reaching its current level.
Power Play: Johann Rupert overtakes Aliko Dangote again as Africa’s richest man
South Africa’s Johann Rupert reclaims the title of Africa’s richest individual with a net worth of $14.2 billion, surpassing Nigeria's Aliko Dangote.