Zenith Bank’s 2024 profit hits $671 million with Adaora Umeoji at the helm
Zenith Bank reports strong $670 million profit, strengthens position among Africa’s most profitable lenders
Billionaires Africa
After Saudi shipment in February, Aliko Dangote’s refinery sends jet fuel to the U.S.
Beyond the local market, the refinery has expanded its reach across Africa, supplying diesel and aviation fuel to Cameroon, Angola, Ghana, and South Africa.
London-based M&G Investment raises holding in Pick n Pay to $117.3 million
The latest move brings M&G’s total holdings in the company above $115 million, underscoring its confidence in Pick n Pay’s turnaround strategy.
Palantir CEO Alex Karp gains $1.5 billion in two weeks as net worth rises
Palantir’s stock rebound boosts Alex Karp’s fortune to $9.2 billion, reinforcing his position as the third-richest Black person in the U.S.
Tony Elumelu, UBA executives spend $19 million on travel in 2024
This expense was part of the $445 million classified under “other operating expenses” in 2024, an increase from $242.7 million the previous year.
Nigerian businesswoman Stella Okoli’s Emzor to open $23 million API plant in late 2025
The plant, slated to begin local production in the fourth quarter of this year, marks a significant step toward reducing Nigeria’s reliance on imported medicines.
KCB Group, led by Kenyan banker Paul Russo, to buy majority stake in Riverbank for $15.4 million
KCB has worked with Riverbank Solutions since 2013, leveraging its technology to power its agency banking network.
5 investment strategies by Africa’s richest man, Aliko Dangote
Dangote's empire thrives on diversification, with investments spanning cement, sugar, and oil refining, ensuring stability and long-term growth amid economic fluctuations.
IHS, led by U.S.-Nigerian telecom tycoon Sam Darwish, secures $1.6 billion in fresh funding
IHS Holding, led by Sam Darwish, raised $1.6 billion to strengthen its balance sheet amid currency volatility and evolving market conditions.
Strive Masiyiwa, Zimbabwe’s richest man, to launch Africa’s first AI factory with NVIDIA
The AI factory will integrate NVIDIA’s accelerated computing and AI software using the NVIDIA Cloud Partner (NCP) reference architecture.
Sun International: South African executive Anthony Leeming to retire as CEO after 8-year tenure
Leeming, who has been with the company since 1999, has been instrumental in guiding Sun International through the challenges posed by the COVID-19 pandemic.
Moulay Hafid Elalamy: Visionary businessman behind Morocco’s largest insurer
His vision has transformed Morocco’s insurance sector and shaped Africa’s financial and industrial landscape.
South Africa's billionaire count rises to 7 with Jannie Mouton’s inclusion on Forbes' list
The boost in Mouton’s wealth is largely attributed to Capitec Bank, where he holds a 5.1 percent stake through the J.F. Mouton Familietrust.
10 lessons from African billionaires on achieving business growth
Billionaires.Africa shares 10 key lessons from African billionaires, practical insights to help entrepreneurs overcome challenges, seize opportunities, and build lasting businesses.
Absa Kenya, linked to Kenyan tycoon Baloobhai Patel, posts $229.3 million profit in 2024
The leading lender’s earnings soared past $220 million, fueled by strong growth in both net interest and non-interest income.
Peter Munga: Kenyan banker who built East Africa’s banking giant, Equity Group
His influence extends beyond banking, shaping industries such as insurance, agriculture, and education.
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