Egyptian tycoon Medhat Khalil’s Raya CX buys stake in Bahraini firm from U.S. investor
The acquisition, detailed in a market filing, saw Raya CX purchase 59,170 shares in the Bahraini company from an American investor.
Moroccan billionaire Anas Sefrioui sees nearly $90-million loss in ADH stake
According to data tracked by Billionaires.Africa, Sefrioui’s stake in ADH has declined by MAD900.65 million ($89.8 million) over the past nine days.
Black billionaire Michael Lee-Chin backs Canada’s nuclear industry
In a recent interview with BNN Bloomberg, Lee-Chin, highlighted the historical correlation between energy source transitions and economic power shifts.
Nigerian oil magnate Wale Tinubu’s Oando to double production with Eni deal
This projection comes with the expectation of further scaling up to 100,000 barrels daily by 2029 through new drilling and security improvements.
Serena Williams, others join Michael Jordan’s tequila brand as co-owners
With Michael Jordan and Serena Williams at the helm, Cincoro Tequila embarks on a journey fueled by ambition, excellence, and star power.
Egyptian tycoon Hani Berzi’s stake in Edita Foods gains $11 million in 9 days
The significant increase in the market value of Berzi’s stake in Edita Food Industries further solidifies his position as one of the richest individuals in Egypt.
America’s richest Black billionaire David Steward loses half a billion in net worth
As a result of the recent $500 million drop in his fortune, Steward’s year-to-date wealth gains now stand at $2.31 billion, down from $2.78 billion on April 27.
South African exec Jackie van Niekerk-led trust acquires rest of Mall of Africa
With this transaction, Attacq now indirectly owns 100 percent of Mall of Africa, up from AWIC’s previous 80-percent holding.
Cemtech eyes 5,500 clinker plant as Narendra Raval tightens grip on Kenyan market
Under Raval’s leadership, Cemtech has submitted an environmental impact assessment (EIA) report to the National Environment Management Authority (NEMA) for review.
East Africa’s first billionaire Sudhir Ruparelia buys Lotis Towers from dfcu Bank
The acquisition of Lotis Towers, a 14-storied upscale building located at plot 16 MacKinnon Road, Nakasero, was confirmed by Sudhir Ruparelia himself following a bank auction.
South African billionaire Christo Wiese’s Shoprite shares rebound above $900 million
With his Shoprite stake now reapproaching the $1-billion mark, Wiese remains a billionaire, with his net worth likely exceeding $1.2 billion.
Zimbabwean tycoon Ken Sharpe’s WestProp begins development of $300-million mixed-use estate
The development encompasses an 18-hole championship golf course modeled after those used on the PGA Tour
Moroccan billionaire’s son acquires $15.4-million Miami Beach waterfront home
The purchase of the two-story mansion at 394 S. Hibiscus Drive, exemplifies the family’s penchant for exclusivity and grandeur.
South African tycoon Laurie Dippenaar gains $31.5 million from FirstRand in 18 days
The $31.46-million increase in the market value of Dippenaar’s investment in FirstRand solidifies his position as one of South Africa’s wealthiest businessmen.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement reports $118.8-million Q1 revenue
The company showcased robust revenue growth, surging past $110 million, yet faced a notable decline in profit due to escalating costs and currency devaluation.
Bank backed by Nigerian gambling magnate Kessington Adebutu seeks $145-million capital raise
Adebutu, founder of Premier Lotto Limited, Nigeria’s oldest gaming company, owns a significant stake (28.09 percent) in Wema Bank.