Pick n Pay, backed by Ackerman family, opens new store after closing 32 locations
This comes barely two months after the company closed 32 stores as part of its restructuring plan.
South African tycoon Gus Attridge loses $15.73 Million as Aspen stake sinks
Attridge, co-founder and group chief advisor of Aspen Pharmacare, holds a 4.3-percent stake in the company.
One of America’s richest Black CEOs suffers $28.9 million loss from Eaton stake
Eaton shares have dropped 17.46% since the start of the year. A $100,000 investment in Eaton at the beginning of 2025 is now worth $82,540, reflecting a loss of $17,460.
South Africa’s IDC seeks control of ArcelorMittal SA, linked to Noluthando Gosa
ArcelorMittal SA, the country’s largest steel producer, has faced growing challenges from rising production costs, cheap imports, and unreliable rail services.
Stephen Saad’s wealth takes a hit as Aspen Pharmacare stock plunges, erasing $41 million
This downturn follows a $44 million gain in January, which had lifted his stake to R10.26 billion ($550.1 million).
Glencore, led by South Africa’s Gary Nagle, commits $329 million to cleaner fuels
The funds will go toward installing new equipment at Astron Energy’s 100,000-barrel-per-day crude oil refinery near Cape Town.
Jim Ovia, Nigeria’s richest banker, makes $10.2 million from Zenith Bank stake
As the founder and chairman of Zenith Bank, Ovia holds a 16.2-percent stake, totaling 5,082,800,739 shares.
Hisham Talaat Moustafa’s TMG partners with Alameda for $100 million healthcare expansion in Egypt, Saudi Arabia
Under the agreement, Alameda will manage and operate a state-of-the-art hospital within TMG’s flagship Madinaty development in East Cairo.
IHS, led by U.S.-Nigerian telecom tycoon Sam Darwish, secures $1.6 billion in fresh funding
IHS Holding, led by Sam Darwish, raised $1.6 billion to strengthen its balance sheet amid currency volatility and evolving market conditions.
How Baba Ahmadou Danpullo became Cameroon’s richest man
From his early days in tea cultivation to owning one of South Africa’s largest private property portfolios, his story is one of grit, vision, and calculated ambition.
Egyptian real estate mogul Abdallah Sallam leads Madinet Masr’s non-residential expansion
Madinet Masr Housing and Development (MNHD has announced plans to launch commercial projects, marking a significant shift in its business strategy.
Peter Munga: Kenyan banker who built East Africa’s banking giant, Equity Group
His influence extends beyond banking, shaping industries such as insurance, agriculture, and education.
Seplat, co-founded by Nigerian tycoon Austin Avuru, buys back $567.46 million in notes to cut debt
The transaction, which covers 87.3 percent of the outstanding amount, is part of a broader plan to streamline its capital structure and ease debt obligations.
South African billionaire Ivan Glasenberg takes $684 million hit on Glencore stake
This decline follows a steeper loss earlier this year, when his stake dropped by $817.53 million between Jan. 24 and Feb. 23.
Will.i.am backs large concept models in new tech investment
His latest initiative centers on identifying and supporting young tech talent who can build these next-generation models.
7 banks backed by African billionaires
With deep pockets and a sharp eye for opportunity, billionaire-backed banks are making a mark in corporate finance, wealth management, and financial inclusion.
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