Sanlam Kenya, backed by Kenyan investor Baloobhai Patel, to raise $19.3 million in rights issue
Sanlam Kenya, backed by tycoon Baloobhai Patel, plans a $19.3 million rights issue to cut debt, strengthen its balance sheet, and revive profitability.
Billionaires Africa
Saltzman family, one of South Africa’s richest, loses $43.95 million from Dis-Chem stake
This follows a previous loss between Feb. 7 and Mar. 10, when their stake dropped by $45.37 million, from $473.47 million to $428.09 million.
Waleed Zaki leads Egyptian real estate developer to $21 million profit in 2024
This strong performance came despite a decline in operating revenues, from $114.3 million to $98.64 million.
Ester Kali: The CEO driving Letshego Namibia’s $360 million financial empire
Ester Kali drives innovation and financial inclusion, building Letshego Namibia into a $360-million force for underserved communities.
MTN unfreezes $23 million as court rules against Cameroon's richest man
This is a major twist in the ongoing legal battle between Baba Ahmadou Danpullo and First National Bank (FNB), with MTN Cameroon caught in the middle.
Belayneh Kindie ventures into Ethiopia’s electric mobility space with 100 e-buses
Ethiopian businessman Belayneh Kindie launches 100 locally assembled electric buses in Addis Ababa, advancing Ethiopia’s clean transit and electric mobility goals.
Marvin Ellison, one of America’s Black executives, loses $21 million from Lowe’s stake
This decline follows earlier losses from Jan. 27 to Feb. 18, when his stake fell $12.44 million, from $200.78 million to $188.34 million.
Arnaud Lagesse's Phoenix acquires $80 million stake in Seychelles Breweries from Diageo
The agreement strengthens the relationship between Diageo and Phoenix Beverages—a subsidiary of the Mauritius-based IBL Group.
Nassef Sawiris, Egypt’s richest person, relocates to Italy over tax changes in UK
The UK's abolition of the 200-year-old tax status prompted Sawiris, Africa's fourth-richest person with a $9 billion fortune, to reconsider his options.
NICO, led by Malawian tycoon Vizenge Kumwenda, announces $6 million dividend
NICO Holdings, led by Malawian tycoon Vizenge Kumwenda, declares a $6 million interim dividend as 2024 profits surge over 130%, reinforcing its market dominance.
Centum, controlled by Kirubi family, cuts stake in Sidian amid cash call
The fresh funds are expected to boost Sidian’s lending capacity and sharpen its competitive edge against established rivals.
Italtile shares plunge: Giovanni Ravazzotti loses $83 million in just 8 weeks
Despite the decline, Ravazzotti remains a key player in South Africa’s retail and manufacturing sector.
The world’s Black female billionaires in 2025
These women are more than financial icons, they are leaders transforming industries, from media and fashion to cosmetics and luxury.
Glencore, led by Gary Nagle, sets date to shut Mount Isa Copper Mine
Located in north-west Queensland, the mine has been a vital part of Australia’s mining landscape for over a century.
Ahmed Ezz’s stake in steel company nears $1 billion
This marks a rebound from the previous month, when his stake had fallen below $970 million, signaling a strong recovery in his financial position.
Mike Adenuga warns MTN-Airtel deal could harm fair competition in Nigeria
He warned that granting MTN additional spectrum could distort the market, reduce competition, and ultimately raise costs for consumers.