Ezz Steel shares plunge, costing Egyptian tycoon Ahmed Ezz $35.9 million
Egyptian billionaire and prominent industrialist Ahmed Ezz owns 60.7 percent of Ezz Steel, or 329,816,198 shares.
Nigerian gambling magnate Kessington Adebutu gains $4.4 million from Wema Bank stake
Wema Bank has seen its share price surge 28.1 percent in recent weeks, climbing from N6.05 ($0.0044) on May 1 to N7.75 ($0.0056) at the time of writing.
Payment firm linked to Nigeria’s richest banker partners with AfCFTA on trade portal innovation
As Africa charts a course toward economic convergence and regional cohesion, initiatives like the SMARTAfCFTA Portal serve as catalysts for progress.
South African tycoon Terrence Moolman’s Caxton stake gains $3.2 million
This recent boost follows a period of decline between Feb. 6 and April 18, when Moolman’s stake in the company fell by R146.85 million ($7.66 million).
Egyptian billionaire Yasseen Mansour loses $5.1 million from Palm Hills stake
Despite the recent decline in the market value of his holding in Palm Hills, Mansour remains one of Egypt’s wealthiest men.
South African tycoon Johan Burger’s FirstRand stake gains $2.1 million in 15 days
Burger, a former CEO and non-executive director at FirstRand, owns a minority 0.11-percent stake, equivalent to 6,000,000 shares, in the leading financial services group.
Africa’s richest man Aliko Dangote’s sugar firm aims to end sugar imports by 2028
Dangote highlighted the importance of the government’s national backward integration policy, which aims to create a self-sufficient domestic sugar industry by incentivizing local producers.
Egyptian banker Karim Awad leads EFG Hermes in $12.5-million debt issuance for HSB
The issuance marks a significant milestone for EFG Hermes, representing its fifth such issuance and the second within a pre-approved EGP2-billion ($41.8 million) program.
Moroccan pharma tycoon Lamia Tazi suffers $2-million loss from Sothema stake
The recent financial setback experienced by Tazi underscores the broader challenges facing Sothema and highlights the unpredictable nature of the stock market.
Algerian-born French entrepreneur Sue Nabi gains $27 million from Coty stake
This follows a decline of $83.6 million between February 27 and April 16, when her stake dropped from $401.8 million to $318.2 million.
Egypt’s second-richest man loses $200 million in 3 weeks
Sawiris’ net worth currently stands at $6.53 billion, ranking him 422nd globally. This reflects a recent decline from a peak of $6.73 billion reached on April 9, 2024.
Egypt’s El-Sewedy family loses $136.5 million from Elsewedy Electric shares
Despite this financial setback of EGP136.55 billion ($136.53 million), the El-Sewedy family remains one of Egypt’s leading billionaire families.
Egyptian businessman Medhat Khalil loses $8.6 million from Raya Holdings stake
Despite this recent downturn, Khalil remains a notable investor in the Egyptian Exchange and continues to be recognized among the country’s wealthiest individuals.
Nigerian president appoints country’s richest banker to head student loan fund
With Ovia in charge, the fund aims to remove financial barriers hindering students’ educational ambitions.
South African businessman loses $5 million in Sabvest Capital investments
Despite the recent decline in his stake, Seabrooke remains a prominent South African business leader and a top investor on the JSE.
Jim Ovia’s Zenith Bank stake sees $14.63-million drop amid share price fall
Despite this setback, Ovia retains his status as Nigeria’s richest banker, underscoring his success as a leading businessman in the nation.