Egyptian tycoon Hani Berzi’s stake in Edita Foods gains $11 million in 9 days
The significant increase in the market value of Berzi’s stake in Edita Food Industries further solidifies his position as one of the richest individuals in Egypt.
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Ezz Steel shares plunge, costing Egyptian tycoon Ahmed Ezz $35.9 million
Egyptian billionaire and prominent industrialist Ahmed Ezz owns 60.7 percent of Ezz Steel, or 329,816,198 shares.
America’s richest Black billionaire David Steward loses half a billion in net worth
As a result of the recent $500 million drop in his fortune, Steward’s year-to-date wealth gains now stand at $2.31 billion, down from $2.78 billion on April 27.
Nigerian gambling magnate Kessington Adebutu gains $4.4 million from Wema Bank stake
Wema Bank has seen its share price surge 28.1 percent in recent weeks, climbing from N6.05 ($0.0044) on May 1 to N7.75 ($0.0056) at the time of writing.
Absa Group, led by South African exec Arrie Rautenbach, unveils $3.2-billion bond program
Rautenbach, a veteran South African banker with deep financial services expertise, holds a 0.026 percent stake (218,412 shares) in Absa Group.
Ghana’s richest investor Daniel Ofori gains $1.19 million from GCB Bank stake
The surge in Ofori’s GCB Bank stake strengthens his position as the leading investor on the Ghana Stock Exchange (GSE).
Moroccan billionaire’s son acquires $15.4-million Miami Beach waterfront home
The purchase of the two-story mansion at 394 S. Hibiscus Drive, exemplifies the family’s penchant for exclusivity and grandeur.
Moroccan real estate tycoon Alami Lazraq loses $57.4 million from ADI stake
Despite this setback, Lazraq remains one of the wealthiest investors on the Casablanca bourse and continues to be recognized as a prominent Moroccan businessman.
South African tycoon Laurie Dippenaar gains $31.5 million from FirstRand in 18 days
The $31.46-million increase in the market value of Dippenaar’s investment in FirstRand solidifies his position as one of South Africa’s wealthiest businessmen.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement reports $118.8-million Q1 revenue
The company showcased robust revenue growth, surging past $110 million, yet faced a notable decline in profit due to escalating costs and currency devaluation.
South African tycoon Jannie Mouton gains $94 million from Capitec’s stake
Mouton, one of the co-founders of Capitec Bank, owns a 5.11-percent stake in the bank through the J.F. Mouton Familietrust.
Glencore-led by South African executive Gary Nagle eyes $46-billion British mining firm
Glencore’s recent interest in Anglo-American comes roughly three months after expressing interest in acquiring Shell’s refinery and petrochemical complex in Singapore.
Egyptian billionaire Yasseen Mansour loses $5.1 million from Palm Hills stake
Despite the recent decline in the market value of his holding in Palm Hills, Mansour remains one of Egypt’s wealthiest men.
Nigerian tycoon Tony Elumelu’s UBA delivers $102.25-million profit in Q1 2024
Under Elumelu’s leadership, UBA’s total comprehensive income for the period also rose, from N51.03 billion ($36.56 million) to N581.47 billion ($416.7 million).
Ahmed El-Sewedy-led electric group seals deal to advance grain silos industry in Egypt
This initiative aligns with the Egyptian government’s food security strategy of localizing grain silo manufacturing.
Africa’s richest man Aliko Dangote’s sugar firm aims to end sugar imports by 2028
Dangote highlighted the importance of the government’s national backward integration policy, which aims to create a self-sufficient domestic sugar industry by incentivizing local producers.