RCL Foods, backed by South Africa’s richest man, reports $730 million in half-year revenue
Revenue climbed to $730 million, while profit surged to $63 million, reflecting strong execution across key segments.
Moroccan pharma executive Lamia Tazi gains $8.14 million from Sothema stake
Tazi holds an 8.19 percent stake in Sothema, equivalent to 589,658 shares.
Natie Kirsh, Africa’s oldest billionaire, is half a billion dollars richer this year
At 93, his fortune has grown by $504 million since January, pushing his net worth from $9.3 billion to $9.83 billion, according to the Bloomberg Billionaires Index.
Alden McDonald Jr.’s bold move: Growing America’s largest Black-owned bank to $10 billion
Plans include opening a new corporate office near the French Quarter and expanding outreach in major cities.
Yasmine Mohamed Khamis leads Egyptian carpet maker to $480 million in 2024 revenue
The strong performance was driven by a sharp rise in international sales, even as global trade faced economic and geopolitical pressures.
Cement empire of Africa’s richest man posts $2.4 billion in 2024 revenue
Revenue from its Nigerian unit rose from N1.29 trillion ($860.6 million) to N2.19 trillion ($1.46 billion), helped by higher cement prices.
South Africa’s richest man Johann Rupert gains $520 million in February
With February’s gains, Rupert’s year-to-date increase now stands at $3.19 billion, making him the only African billionaire to have gained more than $3 billion so far in 2025.
Cement firm owned by Nigeria’s third-richest man posts $49.3 million profit in 2024
The cement manufacturer recorded a 6.4 percent rise in profit despite surging finance costs and operational expenses.
Egyptian tycoon Ashraf Sabry’s Fawry invests $1.6 million in three local tech firms
The leaders of the acquired companies welcomed the partnerships, describing them as valuable opportunities for growth.
Nigerian tech mogul Olugbenga Agboola’s Flutterwave secures payment license in Zambia
The move builds on Flutterwave’s aggressive expansion strategy, which has seen it secure multiple licenses across Africa.
Africa’s first Black billionaire Patrice Motsepe loses $100 million as ARM struggles
The decline follows a steep 16 percent drop in ARM’s share price over the past five days, with the stock sliding from R162 ($8.8) to R135 ($7.33).
Cereals company tied to Kenyan tycoon Ngugi Kiuna faces receivership over $28.6 million debt
The move reflects the growing financial strain on Kenyan businesses as economic pressures mount.
25 companies behind Jay-Z’s $2.5 billion fortune
Beyond music and liquor, Jay-Z has built a strong portfolio in venture capital and private equity.
Africa’s first Black billionaire Patrice Motsepe’s mining empire battles falling earnings
African Rainbow Minerals (ARM), led by Motsepe, forecasts a 55% drop in headline earnings on weaker iron ore prices.
Nigerian billionaire Femi Otedola hosts Wizkid, Burna Boy in star-studded gathering
Beyond his social engagements, Otedola remains focused on leading two of Nigeria’s most influential companies.
Tech billionaire Alex Karp loses $1.8 billion, still U.S. third-richest Black person
This is tied to a slide in the market value of his 2.63 percent stake in Palantir, which has fallen from $7 billion to $5.3 billion.