Swazi billionaire Natie Kirsh gains $210 million in 18 days
The primary driver behind this growth is the exceptional performance of Jetro Holdings, a New York-based consumer goods holding company in which Kirsh holds a 75-percent stake.
Glencore-led by South African executive Gary Nagle eyes $46-billion British mining firm
Glencore’s recent interest in Anglo-American comes roughly three months after expressing interest in acquiring Shell’s refinery and petrochemical complex in Singapore.
Nigerian tycoon Tony Elumelu’s UBA delivers $102.25-million profit in Q1 2024
Under Elumelu’s leadership, UBA’s total comprehensive income for the period also rose, from N51.03 billion ($36.56 million) to N581.47 billion ($416.7 million).
Co-op Bank led by Gideon Muriuki secures $25.2 million to support women-owned businesses in Kenya
Muriuki, Co-op Bank’s CEO and managing director, welcomed the financing, emphasizing the critical need to bolster support for women-owned businesses.
Nigeria’s richest banker Jim Ovia loses $13.3 million from Zenith Bank stake
Despite this short-term setback, Ovia retains his position as Nigeria’s richest banker, underscoring his enduring success as a prominent businessman in the country.
Ugandan tycoon Charles Mbire’s MTN Uganda hits 20 million customer milestone
MTN Uganda boasts an impressive 98 percent coverage area, serving a vast majority of the Ugandan population.
Moroccan billionaire Othman Benjelloun loses $41 million from Bank of Africa stake
Benjelloun remains not only Morocco’s second-wealthiest individual after Prime Minister Aziz Akhannouch but also one of the most prosperous investors on the local bourse.
Egyptian magnate Abdallah Sallam’s Madinet Masr’s Sheya project records $106.6 million in sales
Located near the New Administrative Capital on a 228,212-square-meter plot, Sheya is slated for completion within four years.
Sugar business of Africa’s richest man records nearly $50-million loss in Q1 2024
Dangote Sugar’s $49.6-million first-quarter 2024 loss stemmed primarily from a $74-million foreign exchange loss from the group’s business operations.
Nigerian tycoon Tony Elumelu’s Transcorp reports $25.5-million profit in Q1 2024
The impressive performance is attributed to a significant revenue increase of 173 percent to N88.55 billion ($62.9 million) compared to N32.4 billion ($23 million) in Q1 2023.
South African billionaire Saltzman family gains $23 million from Dis-Chem stake
The family’s recent financial gains come after experiencing losses between March 22 and April 18, during which the family’s joint stake in Dis-Chem fell by $44.1 million.
Salt company of Africa’s richest man registers $17-million revenue in Q1 2024
As the majority owner of NASCON, Dangote’s stake in the salt and seasoning processing company is worth over $74 million.
Nigerian billionaire Abdul Samad Rabiu’s food business records $261-million revenue in Q1 2024
Revenue growth was fueled by a significant increase in sugar sales. the strong performance expands its lead as Nigeria’s top food conglomerate.
Nigeria’s richest banker Jim Ovia’s Zenith Bank gets shareholder nod for holding company plan
This strategic shift positions Zenith Bank to adapt and thrive in the ever-evolving financial services ecosystem, solidifying its position as a leader in innovation and value creation.
South African tycoon Adrian Gore’s Discovery stake surges by more than $37 million
The single-digit percent uptick in Discovery shares has boosted the market value of Gore’s stake by R697.27 million ($37.42 million) in the past 10 days.
South African billionaire Michiel Le Roux gains $100 million in 41 days
The recent uptick in his fortune can be attributed to the performance of his 11.39-percent stake in Capitec Bank.