Despite $1.4-billion wealth, Rihanna pushes Fenty Beauty into China
The decision to expand into China follows its recent entry into the Indian market, underscoring Rihanna’s ambition to build a global beauty empire.
Equity Group led by Kenyan banker James Mwangi to reward shareholders with $114.4-million dividend
With Mwangi at the helm, the conglomerate remains on course for sustainable expansion and prosperity within the African financial sector.
South African billionaire Christo Wiese’s stake in Shoprite falls below $900 million
After a brief rise in February-March, his stake in Shoprite has declined by more than $60 million, dipping below $900 million.
Nigerian billionaire Femi Otedola sees net worth jump to $1.7 billion
This surge is attributed to the strong performance of his diverse investment portfolio and a recent strengthening of the Nigerian naira against the U.S. dollar.
Firm led by Kenyan tycoon Edward Kirathe announces $3.6-million dividend payout
The company’s decision to reward its unit holders comes after declaring its first distribution from its development Reits, marking a significant increase from the initial projection.
Egypt’s El-Sewedy family loses billionaire status as Elsewedy Electric shares tumble
Their 68.1-percent stake in Elsewedy Electric, once valued at $1.29 billion on March 14, has declined to $970.05 million at the time of drafting this report.
Egyptian tycoon Alaa Arafa’s GTEX lists on EGX, market cap nears $20 million
This move signifies a pivotal moment for GTEX, opening doors for public ownership and underscoring its commitment to global expansion.
One of America’s richest Black CEOs, Craig Arnold gains $8.5 million from Eaton stake
Arnold, recognized as one of America’s leading executives, holds a beneficial 0.13-percent stake in the power management company, or 517,061 shares.
Sean ‘Diddy’ Combs sells remaining Revolt TV shares amid federal investigation
After stepping down as Revolt TV’s chairman in November 2023 in the wake of multiple sexual abuse claims, Combs has now divested his stake in the media company.
Africa’s first Black billionaire Patrice Motsepe may join $2.9-billion bid for DStv owner
If successful, this collaboration could propel Motsepe into the ownership ranks of MultiChoice Group, further diversifying his holdings in South Africa’s leading companies.
Egyptian tycoon Hassan Allam’s group buys prime land in Mostakbal City for $740 million
This transaction not only bolsters the group’s position in East Cairo but also solidifies its foothold in one of Egypt’s rapidly evolving real estate markets.
Led by UK-based entrepreneur, Telecel acquires stake in MTN Guinea, Guinea-Bissau units
Telecel’s acquisition of stakes in MTN Guinea-Bissau and MTN Guinea-Conakry is expected to drive growth and further development in these regions.
Egyptian tycoon Hani Berzi loses $207 million amid devaluation and share dip
Despite the recent decline in the market value of his stake, Berzi remains one of the richest investors on the Egyptian Exchange.
WPP Scangroup faces potential job cuts post $30-million lawsuit by Kenyan tycoon Bharat Thakrar
This decision, triggered by the challenges in meeting revenue targets, aims to align the firm with market demands and macroeconomic trends.
South African banker Sim Tshabalala-led Standard Bank provides $31.6 million in sustainable financing to CNBM
This initiative includes a R500-million ($26.4 million) invoice financing facility and a R100-million ($5.3 million) working capital facility.
South African billionaire Nicky Oppenheimer’s net worth climbs to $10.7 billion
With a current net worth of $10.7 billion, Oppenheimer ranks 223rd on the global wealth list.