South Africa’s richest man Johann Rupert makes $500 million in just 10 days
This solidifies his position as South Africa’s richest man and Africa’s second-wealthiest individual.
Femi Otedola’s Geregu Power eyes growth as Nigeria finalizes $1.15-billion power plant sale
The company is in line to acquire one of five power plants being sold by the Nigerian government through the Ministry of Power.
Robert F. Smith regains top spot as America’s richest Black billionaire
This comes after a month-long reign of David Steward, majority shareholder and co-founder of World Wide Technology (WWT).
Femi Otedola boosts stake in First Bank parent with new shares worth $7.7 million
Femi Otedola now holds a 7.01 percent stake in the financial services group.
Anthony Joshua eyes $192-million Watford takeover after earning $83 million in past year
The former two-time heavyweight champion, who earned $83 million over the past year, is now setting his sights on the football world.
Africa’s richest man Aliko Dangote’s conglomerate targets $30 billion revenue
Dangote, whose net worth stands at $15 billion, highlighted the pivotal role of recent restructuring efforts and strategic leadership appointments within the conglomerate.
South African billionaire Christo Wiese’s Brait unveils multimillion-dollar recapitalization plan
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.
RCL Foods, backed by South Africa’s richest man, to list Rainbow Chicken on JSE
Key Points: RCL Foods, a leading South African consumer goods and milling company backed by South Africa’s richest man Johann Rupert, has…
Egyptian billionaire Samih Sawiris sells UAE tourism company for $40 million
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.
Nigerian oil magnate Wale Tinubu’s Oando posts $51 million in profit in 2023
Oando’s average production for 2023 was 20,837 barrels per day, slightly up from 20,703 barrels per day in 2022.
Adidas finds success with 22-year-old NBA star’s sneaker after cutting ties with Kanye West
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.
South African billionaire Patrice Motsepe’s net worth falls below $3 billion
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.
Nigerian billionaire Femi Otedola’s Geregu Power inks deal with Siemens Energy to triple capacity
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.
Moroccan real estate magnate Alami Lazraq makes $10.8 million from ADI stake
This gain follows a period of decline, with Alami Lazraq’s shares in ADI dropping by $17.39 million between May 15 and 23
South African billionaire Saltzman family’s Dis-Chem sees earnings top $73 million
The South African billionaire Saltzman family holds a 35.1 percent stake in the company, valued at R9.97 billion ($529.23 million).
Egyptian billionaire Yasseen Mansour’s company records $131-million revenue in Q1 2024
Executive Chairman Yasseen Mansour attributed the impressive results to strong sales across various regions.