Nigerian insurance tycoon Wole Oshin’s Custodian projects $18-million profit for Q4 2024
Custodian Investment expects a 119.74-percent profit increase in Q4 2024, with after-tax profit projected to reach N30.98 billion ($18 million).
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Egyptian mogul Abdallah Sallam's Madinet Masr unveils new luxury project in Mostakbal City
Madinet Masr, led by Abdallah Sallam, launches luxury project in Mostakbal City.
NCBA, backed by Kenya’s richest families, invests $5 million in cybersecurity
NCBA Bank invests Ksh644 million ($5 million) in cybersecurity, enhancing firewalls amid rising cyber threats in Kenya.
Egyptian tycoon Hani Berzi’s Edita Foods stake declines by $9.3 million
Hani Berzi’s fortune dips by over $9 million as Edita Foods shares slide.
Black billionaire Alex Karp's Palantir expands AI partnership with BP for oil and gas operations
This builds on a decade-long success of incorporating Palantir software into BP’s oil and gas production systems.
Africa’s first Black billionaire Patrice Motsepe to receive $45.2-million dividend from ARM
The dividend payout reflects a 25-percent decrease from the R1.08-billion ($60.3 million) dividend he received the previous year.
Antoine Delaporte’s Adenia sells African payment firm to SPE Capital
Adenia Partners has sold its entire stake in OMOA Group to SPE Capital, marking the completion of its €96-million ($106 million) Adenia Capital III fund.
Giovanni Ravazzotti loses $18 million in two weeks from Italtile stake
South African tycoon Giovanni Ravazzotti sees $13.8-million decline in Italtile stake amid share price slide.
Real estate investment could elevate Anas Sefrioui back to Moroccan billionaire ranks
Moroccan businessman Anas Sefrioui sees $143-million gain on ADH stake
Anthony Leeming-led Sun International posts $52-million profit in H1 2024
Sun International, led by South African executive Anthony Leeming, reports surge in profit, driven by discontinued operations and revenue growth.
Standard Bank, led by Group CEO Sim Tshabalala, unveils innovative digital platform for loan management
New digital platform transforms syndicated loan management with automation and real-time data access, enhancing efficiency and reducing errors.
Sanlam, backed by Patrice Motsepe, targets India's wealth management sector
The move is part of a broader strategy to capitalize on growth opportunities in one of the world’s fastest-growing major economies.
Daniel Yu's Wasoko merges with MaxAB to form Africa’s largest informal retail platform
This all-stock deal creates the continent’s largest digital platform for the informal retail market, marking a turning point in the sector's consolidation and cross-border expansion.
Terrence Moolman's Caxton delivers $37.1-million profit in 2024
Profit fell from R751.88 million ($42.39 million) in 2023 to R657.36 million ($37.07 million), driven by rising costs, and subdued consumer spending.
Nigerian billionaire Femi Otedola’s FBN Holdings to divest merchant banking unit
FBN Holdings, led by Femi Otedola, is selling its 100-percent stake in FBNQuest Merchant Bank to streamline operations and focus on core banking.
Patrice Motsepe’s African Rainbow Minerals reports lowest profit in seven years
ARM, led by Africa’s first Black billionaire Patrice Motsepe, reports its lowest profit in seven years due to rising costs and a tough operating environment.