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The leading lender, led by Elumelu, one of Africa’s most influential business figures, reported a stellar 257 percent increase in profit to N607.7 billion ($468.8 million).
Froneman underscored the importance of fortifying liquidity buffers to mitigate potential downturns. He explicitly ruled out equity issuance as a means of capital procurement.
Elumelu, chairman of Heirs Holdings and United Bank for Africa (UBA), hinted at his intentions during a recent exchange on X, formerly Twitter.
Sawiris, Egypt’s second-richest person, added $130 million to his fortune over the past 17 days.
The substantial surge in profit was driven by higher interest income and a notable increase in foreign exchange earnings throughout the year.
GTCO’s 2023 financial performance, marked by record profit, strengthens Agbaje’s leadership and cements the company’s position as a Nigerian financial powerhouse.
This was driven by a combination of surging interest income and substantial gains from foreign exchange portfolio revaluations.
Sanlam’s interest in SGIC is set to rise from 40 percent to 51 percent, and in SLIC from 42 percent to 54 percent.
The market value of the publicly listed companies he holds stakes in has surged to N16.7 trillion ($12.9 billion), highlighting his impact not only on the firms he manages but also on those in which he holds significant ownership.
Despite the loss, Ravazzotti retains his position as one of the wealthiest investors on the JSE and one of South Africa’s most prosperous businessmen.
This surge in his fortune cements Froneman’s position as a key figure in South Africa’s mining sector.
Despite the recent decline, Gore remains a top figure on the JSE.
The decline is a significant blow to Motsepe’s wealth, as his holding in ARM represents a substantial portion of his net worth.
Critics have previously expressed concerns that Access Holdings’ historical reporting practices may have obscured the true scale of its legal issues.
Its profits skyrocketed by 217 percent, leaping from N11.35 billion ($8.52 million) in 2022 to N35.99 billion ($27.2 million).
The recent surge in the share price of Adidas has bolstered Sawiris’ wealth significantly, with his stake now valued at $2.71 billion.
