Patrice Motsepe-linked MetroFibre secures $298 million in debt funding from Standard Bank Group
MetroFibre is partly owned by African Rainbow Capital, an investment unit founded by Motsepe.
African billionaire
South African billionaire Johann Rupert’s luxury company records over $5.2 billion in revenue in Q1 2023
Despite the strong performance, Richemont shares have fallen 5.7 percent since this morning.
Nigeria’s richest woman Folorunsho Alakija completes $145-million office complex
Alakija is the owner of Famfa Oil.
Africa’s richest billionaire Aliko Dangote to raise $750 million to complete $19-billion refinery plant
The refinery project is still on track to be completed by 2023.
Africa’s richest man Aliko Dangote’s net worth rises by $1.57 billion
This is significantly greater than the $1.3-billion increase in his net worth in 2021.
South African billionaire Michiel Le Roux’s Capitec Bank posts earnings of over $570 million in 2022
Capitec Bank was founded 20 years ago by Le Roux and leading businessmen Jannie Mouton and Riaan Stassen.
Associates linked to Kenya’s late President Daniel Arap Moi will receive $3.4 million from two-year-old deal
The $3.4-million payout represents the balance from their stake in Transnational Bank sold to Access Bank in 2020.
Aliko Dangote, Africa’s richest man, gains $100 million as investors prepare for Q1 earnings
The wealth gains solidify his position as not only Africa’s richest man but also the world’s richest Black man.
Ashraf Sabry’s Fawry gains $53 million in single day after seeing over $123.4 million in block deals
Fawry is one of Africa’s leading fintech companies.
Rise of the millennials next-gen leaders stepping up
Founders and incumbent leaders have the responsibility of legacy building.
Somali tycoon Abdirashid Duale, others raise $8 million to rebuild burned-out market
Duale, a Somali multimillionaire, is the CEO of Dahabshiil, a global money transfer company founded in 1970.
Moroccan businessman Karim Benjelloun gains $1.7 million in six weeks
Disway distributes technological products and offers a wide range of international brands from IT publishers and manufacturers.
Egyptian billionaire Nassef Sawiris tops list of richest Arab billionaires
Despite losing $600 million in net worth, Sawiris remains the richest Arab billionaire on the Forbes list of the world’s richest people.
Africa’s richest man Aliko Dangote’s cement firm to issue bonds under $721.6-million program
Dangote Cement is Africa’s largest cement producer, producing 51.55 million tonnes per year across 10 countries.
U.S. digital infrastructure firm Equinix completes acquisition of Funke Opeke’s MainOne in $320-million deal
it is the latest in a series of strategic acquisitions for the world’s digital infrastructure firm.
Malagasy businessman Hassanein Hiridjee’s AXIAN Telecom closes acquisition of Milicom’s operations in Tanzania
The deal fits perfectly with AXIAN Telecom’s ambitious growth plan.