Nigerian tycoon Tony Elumelu-linked power company posts revenue exceeding $100 million in 2023
The surge in the company’s revenue led to a significant 74.9-percent jump in profit, reaching N30.23 billion ($23.15 million) at the end of 2023.
U.S.-Nigerian telecom tycoon Sam Darwish’s stake in IHS gains $14 million
Darwish, chairman and CEO of IHS Holding, a major figure in African telecom, holds a significant 4.17-percent ownership stake, or 13,958,158 ordinary shares.
Namibian tycoon Sven Thieme’s O&L invests in Germany’s largest floating Solar Park
The endeavor aligns with O&L’s commitment to fostering sustainable solutions and contributing positively to societal and ecological welfare.
Orascom Construction, led by Egypt’s richest family, reports $8.1-billion backlog
Throughout 2023, Orascom Construction expanded its footprint by securing quality, internationally funded projects in Egypt and diversifying its presence in the UAE.
Kenyan top executive James Ndegwa gains over $3.4 million from NCBA stake
This highlights Ndegwa’s standing among Kenya’s top investors, solidifying his position among the nation’s leading businessmen.
Startup led by Nairobi-based entrepreneur secures $3-million investment from CFAO
According to Bhattacharya, CEO of BasiGo, the partnership with CFAO Group marks a significant milestone in the company’s journey.
South African tycoon Jonathan Jawno’s Transaction Capital sells Australian unit of Nutun
Aligned with its value-maximization strategy, Transaction Capital is also pursuing the separation of its WeBuyCars unit, targeting R1.25 billion ($65 million) in capital.
Kenyan tycoon Bharat Thakrar initiates $30.2 million lawsuit against WPP plc
This move follows his suspension from the company in 2021 and his announcement in February of plans to sue WPP for £24 million ($30.2 million).
Egypt’s second-richest person Naguib Sawiris sees net worth top $6.5 billion
Sawiris’ recent surge underscores his significant influence in the Middle East and North Africa and his ascent among the world’s elite billionaires.
Nigerian banker Jim Ovia’s Zenith Bank invests in Niteon to boost digital export infrastructure
Zenith Bank’s decision to invest in Niteon underscores its dedication to fostering economic growth and innovation across Africa.
Egyptian tycoon Ahmed Ezz loses $422 million amid devaluation and share dip
Despite this significant downturn, Ezz remains a top figure in Egypt’s business landscape.
First Black female Fortune 500 CEO Ursula Burns makes $3.5 million from Uber
Since the start of the year, the market value of Burns’ stake in Uber has surged by $3.4 million, rising from $9.08 million to $12.48 million.
South African-born billionaire Patrick Soon-Shiong’s wealth surges above $11 billion
The surge in Soon-Shiong’s net worth in 2024 highlights the success of his investments, particularly in biotech firm ImmunityBio.
Led by Kenya’s richest families, NCBA secures $50-million loan from Proparco
The $50-million loan from Proparco represents a significant milestone for NCBA Group as it continues to drive sustainable economic growth and support SMEs in Kenya.
South Africa’s job crisis worsens as CEO Shameel Joosub leads Vodacom to cut 80 jobs
The decision to cut approximately 80 jobs has drawn criticism from organizations such as the Congress of South African Trade Unions (COSATU).
Egyptian billionaire Ahmed El-Sewedy’s firm chosen for Qatar cable project
The project entails the establishment of electricity supply to NFS project facilities, involving the design, engineering, procurement, and installation of two 400kV cables.