Succession in the Steward family business type comes with little conflict.
African billionaire
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Absa Bank Kenya reported triple-digit earnings growth in the 2021 fiscal year.
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Elumelu owns a sizable 6.96-percent stake in the banking group, or 2,380,941,756 ordinary shares.
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Nigeria-based British executive Roger Brown acquires additional stake worth $2.3 million in Seplat
As Seplat’s CEO, Brown was instrumental in completing the group’s dual listing on the Nigerian and London stock exchanges.
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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.
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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.
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Alakija is the owner of Famfa Oil.
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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.
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This is significantly greater than the $1.3-billion increase in his net worth in 2021.
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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.