Firm linked to America’s richest Black person Robert F. Smith surpasses $20-billion mark for eighth flagship fund
The fundraising endeavor has exceeded all expectations, showcasing an insatiable appetite for large-scale technology investments.
Nigerian tycoon Tony Elumelu-linked power company reports strong Q1 2024, revenue tops $60 million
Transcorp Power’s journey in Nigeria’s energy sector commenced in 2013 with the acquisition of the Ughelli Power Plant under the leadership of Elumelu.
Zimbabwean exec Ralph Mupita led MTN set to launch joint tech innovation lab in Johannesburg
This stems from a Memorandum of Understanding signed during the Mobile World Congress (MWC) 2024, underscoring commitment to technological evolution.
Kenyan entrepreneur Tesh Mbaabu’s startup shuts down B2B distribution unit after $40-million fundraise
Kenyan entrepreneur, Mbaabu, CEO of MarketForce, cited challenging profit margins and a funding drought as primary reasons behind the decision.
Kenyan tycoon Gideon Muriuki’s Co-op Bank provides $3.75-million boost to brokerage unit
The loan, marking an increase from the previous year’s advances, underscores Co-op Bank’s steadfast support for Kingdom Securities.
Nigerian billionaire Femi Otedola nears $2-billion net worth as naira strengthens
Otedola’s focus on operational efficiency across his portfolio has fueled earnings growth and valuations.
Nigerian gambling magnate Kessington Adebutu faces $4-million loss in Wema Bank shares
This recent setback follows a surge in his fortune between March 8 and March 20, when his stake in Wema Bank increased by $2.3 million.
South African-British billionaire Clive Calder’s net worth takes $320-million hit
Calder’s wealth has decreased by $320 million since April 2. This equates to an average daily loss of $20 million over the specified period.
Africa’s richest person Aliko Dangote’s refinery slashes diesel prices in Nigeria
The recent price cut follows the commencement of operations at the Dangote Oil Refinery, a landmark achievement for Nigeria’s pursuit of energy independence.
African-American billionaire Alex Karp’s loses $100 million in 16 days
The decline in Karp’s fortune comes despite Palantir achieving impressive milestones under his leadership.
South African tycoon Gus Attridge gains $7.95 million from Aspen shares
The latest bump in his fortune comes on the heels of previous gains between Feb. 12 and March 24, when his stake in Aspen grew by R447.12 million ($25.12 million).
Kenyan tycoon Narendra Raval’s Devki Group secures $32.7-million credit facility
The news of this substantial credit facility coincides with Narendra Raval’s decision to shift a significant portion of Devki Group’s business accounts to Stanbic Bank Kenya.
Algerian-born French entrepreneur Sue Nabi loses $83.6 million from Coty stake
Despite the decline, Nabi remains a key player in the beauty industry. As Coty’s CEO, her visionary leadership continues to significantly impact the global beauty landscape.
Nigerian tycoon Tony Elumelu-linked power company pays off foreign currency loan
With a strong revenue and profit trajectory, Transcorp Power remains well-positioned for continued growth and innovation within Nigeria’s energy sector.
South Africa’s richest person Johann Rupert’s net worth soars $200 million in a day
After a challenging period, South Africa’s richest person Johann Rupert has seen his net worth rebound by $200 million in the past…
Dangote’s fortune rebounds above $17 billion as naira leads global currencies in April
Dangote remains Africa’s richest person and the world’s wealthiest Black billionaire. His net worth has surged past $17 billion.