Media group with French billionaire ties buys stake in Senegalese production firm
Bollore-backed Canal+ has been actively expanding in Africa.
Kenyan mogul John Kimani’s Kakuzi sees revenue top $40 million in 2023
Kimani, a significant shareholder with a 33.3-percent stake in Kakuzi, is positioned to receive a substantial portion of the group’s dividend payout.
Egyptian tycoon Hassan Allam’s group wins $346-million contract for Saudi entertainment complex
The Al Kharj Entertainment Complex will be positioned between the cities of Abha and Khamis Mushait near Abha International Airport, covering 64,000 square meters.
South African tycoon Adrian Gore’s Discovery targets U.S. healthcare market
Gore expressed confidence in penetrating the U.S. market further, leveraging the success and innovation that Discovery has pioneered in the wellness space.
Nigerian businessman Tony Elumelu’s UBA stake nears $50 million
As his stake in UBA approaches $50 million, Elumelu’s influence and commitment to Africa’s economic prosperity remain undeniable.
Nigerian businessman Tony Elumelu awards $5-million seed capital to 1,000 African entrepreneurs
Each recipient is set to receive a $5,000 non-refundable seed capital to kickstart their entrepreneurial endeavors.
Egypt’s richest man Nassef Sawiris makes $230 million in just 2 weeks
Egypt’s richest man Nassef Sawiris has experienced a remarkable upswing in his fortunes, with his net worth skyrocketing by $230 million in…
South African tycoon Markus Jooste, once worth $400 million, dies by suicide
The circumstances surrounding Jooste’s death remain under investigation, with authorities confirming that he was found with a gunshot wound to the head.
Africa’s richest man Aliko Dangote’s net worth hits $15 billion as naira rebounds to N1,400/$
Dangote’s financial resurgence reflects not only his vast fortune and investment portfolio but also the broader economic dynamics at play within Africa’s biggest economy.
Nigerian gambling magnate Kessington Adebutu makes $2.3 million from Wema Bank stake
This surge not only reaffirms Adebutu’s status as one of the wealthiest investors on the NGX but also underscores Wema Bank’s pivotal role in Nigeria’s financial landscape.
South African businessman Stephen Brookes loses $4.5 million in Balwin stake
Since Jan. 31, the market value of Brookes’ stake in Balwin Properties has declined by $4.55 million, decreasing from $21.84 million to $17.29 million.
Adaora Umeoji emerges as first female CEO of Nigeria’s most profitable bank
Umeoji will ascend to the helm of the institution, taking over the reins of control from Ebenezer Onyeagwu, whose term as group managing director and CEO expires on May 31.
Tech stock pullback leads to $300-million wealth loss for America’s second-richest Black billionaire
The recent downturn has also impacted Steward’s year-to-date wealth gains, which have now decreased to $667 million, according to data retrieved from the Bloomberg Billionaires Index.
Globacom founder Mike Adenuga’s stake in Julius Berger gains $3.4 million
This surge solidifies Adenuga’s position among the world’s wealthiest individuals.
Nigerian tycoon Michael J. Prest’s BONI secures $11 million for Nevis solar energy and hospitality development
This initiative aims to reduce energy bills, support business growth, create employment opportunities, and contribute to carbon emission targets.
South Africa’s Ackerman family loses $64 million as Pick ‘n Pay struggles mount
The downturn in Pick ‘n Pay’s market value coincides with recent financial challenges and legal disputes. The retailer is embroiled in a legal battle with one of its major franchises.