Madinet Masr’s net profit reaches $52 million as new projects fuel growth
Net profit rose by 88.9 percent, exceeding $50 million, as contracted sales more than doubled and revenue surged 62.9 percent.
Mohammed Al-Amoudi’s wealth falls $1-billion amid asset revaluation, legal disputes
Ethiopia’s wealthiest man, Mohammed Al-Amoudi, lost over $1 billion in recent months, with his net worth dropping to $8.76 billion.
Kessington Adebutu gains $3.2 million from Wema Bank shares
Over the past 53 days, the market value of his stake has increased by N5.45 billion ($3.26 million), fueled by a robust stock performance on the NGX.
Coty CEO Sue Nabi’s stake falls below $230 million as shares decline
This follows a prior loss of $48.44 million from Sept. 27 to Oct. 17, when her stake declined from $303.06 million to $254.62 million.
Investec targets $1.7-billion market expansion
Investec is positioning itself for a $1.7-billion market expansion by enhancing its business banking unit with a new payments system for corporate clients.
Marvin Ellison’s Lowe’s shares dip below $200 million
This decline contrasts with a previous gain of $30.1 million between Sept. 6 and Oct. 18.
Alex Karp’s $5.9-billion fortune secures spot as third-richest Black billionaire in U.S.
Karp’s fortune grew by $430 million within 24 hours, marking a significant uptick from $5.47 billion to $5.9 billion, according to Forbes.
Christo Wiese’s stake in Shoprite rises by $115 million in 13 days
South African billionaire Christo Wiese’s stake in Shoprite has increased by $115.84 million, strengthening his position among Africa’s wealthiest.
Jannie Mouton's Capitec Bank stake hits $1-billion milestone
Over the past 12 weeks, Mouton’s stake has increased by R3.02 billion ($173.13 million), rising above the $1-billion mark.
BP, Vitol, Trafigura drive sales at Dangote Oil Refinery, redefining Africa’s oil market
British oil giant BP, Swiss-based Vitol, and Singapore’s Trafigura lead sales from the Dangote Oil Refinery as Africa’s largest oil plant reshapes market.
Mohammed Dewji to close 2024 with $300-million gain despite headwinds
This boost in fortune solidifies his place as East Africa's richest individual and places him as the 1,882nd wealthiest person globally.
Nicky Oppenheimer’s wealth jumps $1.5 billion
This boost solidifies his position as the second-richest person in South Africa and the 227th richest individual globally.
The 10 biggest donations by Femi Otedola: How he is building a legacy of impact
Otedola’s generosity has touched lives nationwide, with substantial donations spanning education, health, security, and economic empowerment.
El-Sewedy brothers lose $175 million after becoming Egypt's newest billionaires
Ahmed El-Sewedy, CEO of Elsewedy Electric, and his brother Sadek, the company’s non-executive chairman, hold a majority 51.05 percent stake.
Femi Otedola drives parent firm of Nigeria’s oldest bank to $16 billion in assets
His leadership has helped push the group’s total assets past $16 billion, a milestone for the Lagos-based financial services provider.
Ezz Steel shares rebound, boosting Ahmed Ezz’s stake to $755 million
This wealth rebound follows a recent rally in Ezz Steel’s stock price on the Egyptian Exchange (EGX), reversing earlier losses.