Nigeria to end petrol imports by June, says Africa’s richest man Aliko Dangote
Dangote said Nigeria could halt premium motor spirit (PMS), or petrol, imports by next month thanks to the Dangote Oil Refinery.
One of America’s richest Black CEOs, Craig Arnold gains $5 million from Eaton stake
Arnold’s stake in Eaton Corporation has experienced a $5.04-million boost in the market value, thanks to the recent rise in the company’s stock price.
South African billionaire Christo Wiese’s Shoprite stake nears $1 billion again
South African billionaire Christo Wiese has seen the value of his stake in Shoprite Holdings, Africa’s largest grocer, surge over the past…
Companies linked to Africa’s first Black billionaire donate $1.2 million to South African parties
Recent disclosures reveal that companies linked to Motsepe donated heavily across the political spectrum in the first quarter of 2024.
Africa’s richest man Aliko Dangote’s refinery prepares for exports, targets Brazil and other African countries
Speaking at the Africa CEO Forum in Kigali, Rwanda, Dangote detailed the refinery’s ability to produce a wide range of refined products, including gasoline, diesel, and aviation fuel.
South African tycoon Laurie Dippenaar gains $22.2 million in FirstRand surge
This significant gain further cements his position as one of South Africa’s wealthiest businessmen.
Kenyan tycoon Gideon Muriuki’s Co-op Bank eyes expansion after robust Q1 2024 performance
The bank aims to open 15 new branches this year, reaching 210 outlets. Recent openings include Imaara Mall on Mombasa Road and Ugunja in Siaya.
Nigerian billionaire Olugbenga Agboola’s Flutterwave denies losing $7.25 million in security breach
As a security precaution, Flutterwave will notify some customers to migrate their accounts and is urging all customers to enable multifactor authentication, 3D security, and IP whitelisting.
Refinery of Africa’s richest billionaire Aliko Dangote to buy 24 million barrels of U.S. crude
Boasting the world’s largest single-train capacity (650,000 barrels per day), the Dangote Oil Refinery aims to wean Nigeria off its reliance on imported fuels.
Ronnie Apteker: Accidental entrepreneur who launched South Africa’s first Internet service provider
Prescient about the coming tech boom, he entered the industry when most Africans were unfamiliar with computers.
Nigerian banker Aigboje Aig-Imoukhuede tapped to lead France-Nigeria Business Council
The announcement, made during the Choose France Summit 2024, solidifies Aig-Imoukhuede’s role in fostering economic ties between the two nations.
Kenyan banker Gideon Muriuki’s Co-op Bank posts $50.25-million profit in Q1 2024
Muriuki, who has played a pivotal role in the bank’s expansion, holds a two-percent stake in the group, now valued at more than $12 million.
Lotis Towers undergo name change as Ugandan multimillionaire assumes ownership
The name change to “Arie Towers” reflects Ruparelia’s vision to reposition the building as a hub for business and commerce.
Nigeria’s naira woes hit billionaires as Africa’s richest man loses $8.6 billion
Dangote, Africa’s richest man and Nigeria’s wealthiest individual, has seen his fortune plummet by $8.6 billion since Jan. 30.
South African tycoon Jens Montanana loses $2.6 million from Datatec stake
This recent dip comes on the heels of previous losses recorded between April 17 and 27, when Montanana’s shares in the company fell by $2.4 million
Ethiopia’s richest man Mohammed Al-Amoudi’s fortune rises $190 million in 19 days
Al-Amoudi’s net worth has jumped from $9.12 billion on April 26 to $9.31 billion as of this report. This translates to an average daily gain of $10 million since April 26.