South African executive Gary Nagle sees $3.2 million decline in Glencore shares in 2024
The steep decline underscores the challenges confronting Glencore and its investors as the company grapples with market volatility and shifting global demand.
Kenyan investor Baloobhai Patel gains from $98.2 million payout in Bamburi Cement takeover deal
Among the investors who benefited significantly is Kenyan tycoon Baloobhai Patel, who earned $15.5 million in just six months through his stake in Bamburi.
Motsepe’s stake in Tyme soars to $600 million following record funding round
Tyme, which operates in Africa and Southeast Asia, in December raised $250 million in its Series D capital raise, pushing its valuation to $1.5 billion.
Beyoncé wins legal battle for Blue Ivy’s trademark
The trademark process began in 2012 when Beyoncé’s company, BGK Trademark Holdings LLC, filed the initial application.
Kenya’s Merali family records $1.95 million loss from Sasini shares in 2024
Although their stake declined, the family remains a key player in Kenya's agribusiness sector.
Nigerian billionaire Mike Adenuga’s fortune grows by $700 million in 2024
Globacom remains the crown jewel of Adenuga’s empire, driving Nigeria’s digital transformation through substantial investments in network expansion.
South African tycoon Adrian Gore earns $1.7 million salary from Discovery in 2024
Discovery CEO and Co-founder Adrian Gore’s 2024 compensation package comprises a secure base pay of $448,843 and a performance-based short-term incentive of $565,687.
Tullow, backed by oil magnate Dossou-Aworet, wins $320 million tax dispute in Ghana
An international tribunal ruled that the company is not liable for a $320 million tax assessment levied by the Ghana Revenue Authority.
Absa adds $3.2 million to Kenyan businessman Baloobhai Patel’s portfolio gains in 2024
His portfolio benefited from a rise in the bank's share price on the Nairobi bourse and the strengthening of the Kenyan shilling against the U.S. dollar.
Tongaat Hulett to sell Zimbabwe operations in $330-million deal amid currency woes
The deal will be executed via a debt-to-asset swap, a component of Tongaat's ongoing restructuring process.
South African businessman Christopher Seabrooke’s Sabvest stake hits $77 million in 2024
Christopher Seabrooke’s stake in Sabvest Capital grew by $10.57 million in 2024, reaching a market value of $77 million by year-end.
Nearly $20 billion added to the wealth of African billionaires in 2024
During the year, the list of African billionaires expanded from 25 to 27.
After selling Nigerian unit to Oando, Eni increases production at Baleine Field in Ivory Coast
The second phase, accelerated from its original late-2024 timeline, now produces 60,000 barrels of oil per day and 70 million standard cubic feet of associated gas daily.
Nigerian oil tycoon Gabriel Ogbechie gains $2.2 million from Eterna in 2024
The gain comes amid economic headwinds, including a 41.5 percent devaluation of the naira after the Central Bank of Nigeria liberalized exchange rates.
Nigeria’s Access Bank sets sights on Moroccan market
The strategy targets key markets including Morocco, Egypt, and the U.S., reflecting the bank’s commitment to expanding its global presence.
Supermatch maker, Mastermind Tobacco, to auction assets as debt mounts
The firm, known for its flagship Supermatch cigarette brand faces final blow amid mounting financial pressures.