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The recent move detailed a comprehensive recapitalization initiative designed to reduce the group’s net debt by $123 million, from $323 million to $200 million.
Key Points: RCL Foods, a leading South African consumer goods and milling company backed by South Africa’s richest man Johann Rupert, has…
The $40 million transaction includes the entire share capital of RAK, which holds leasehold rights to The Cove Rotana Hotel, a 349-room luxury resort in Ras Al Khaimah.
Oando’s average production for 2023 was 20,837 barrels per day, slightly up from 20,703 barrels per day in 2022.
The new sneaker line has been a smash hit in its first six months on the market, drawing comparisons to the initial triumph of the Yeezy sneakers launched in collaboration with Kanye West.
Motsepe’s fortune peaked above $3 billion in May, but a $200 million decline linked to his stake in African Rainbow Minerals (ARM) has pushed his net worth to $2.8 billion.
The MoU, signed in Berlin on May 29, 2024, focuses on developing solutions for sustainable, resilient, and efficient power generation at Geregu’s existing plant.
This gain follows a period of decline, with Alami Lazraq’s shares in ADI dropping by $17.39 million between May 15 and 23
The South African billionaire Saltzman family holds a 35.1 percent stake in the company, valued at R9.97 billion ($529.23 million).
Executive Chairman Yasseen Mansour attributed the impressive results to strong sales across various regions.
Otedola, who ranks among Africa’s billionaires, accuses Zenith Bank of perpetrating banking fraud.
This comes on the heels of a $94 million gain recorded between April 17 and May 4 when the market value of his stake surged from $646.08 million to $740.15 million.
The choice to pursue a dual listing on both exchanges reflects considerations arising from the NGX’s current limitations in accommodating the scale of the refinery.
This follows the Court of Appeal’s ruling that upheld a High Court order for Heineken to compensate Maxam for the unlawful termination of their distribution contract in Kenya.
While his commanding stake in Richemont forms the cornerstone of his wealth, Johann Rupert has diversified his investment portfolio across a spectrum of industries.
This collaboration aims to establish FBN Holdings as a frontrunner in African climate finance.
