Dangote’s half-brother Sayyu Dantata’s MRS tops $60 million in revenue in Q1 2024
Revenue for the first three months of 2024 climbed to N79.16 billion ($62.6 million), up from N30.78 billion ($23.83 million) in the prior-year period.
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Ethiopia’s richest man Mohammed Al-Amoudi loses $260 million in two weeks
This follows a $320-million gain in Al-Amoudi’s net worth between March 28 and April 12.
Africa’s richest man boosts regional growth with seven clinker vessels to Ghana, Cameroon
In the first quarter of 2024, Dangote Cement’s Nigerian operations shipped a total of 178,000 tonnes of clinker to Cameroon and Ghana.
South African businessman loses $5 million in Sabvest Capital investments
Despite the recent decline in his stake, Seabrooke remains a prominent South African business leader and a top investor on the JSE.
Nigerian tycoon Atedo Peterside’s Stanbic IBTC plans $442.8-million capital boost
A financial services group with total assets of $4 billion as of Dec. 31, 2023, Stanbic IBTC ranks among the top 15 most valuable companies on the Nigerian Exchange.
Egypt’s richest man Nassef Sawiris’ net worth soars by $410 million in 9 days
The unexpected surge catapults Sawiris nine spots on the Bloomberg Billionaires Index, from 300th to 291st.
South African billionaire Mouton family firm hits $21.3 billion in assets under management
PSG Group is a holding company, with positions in banking, education, finance, and consumer goods. The South African Mouton family owns 24.5 percent of the company.
Cement company of Africa’s richest man doubles revenue to $659.3 million in Q1 2024
Group revenue from cement, clinker, and other products surged 100 percent year-over-year, reaching N817.35 billion ($659.3 million).
Access Holdings’ $1.71B capital raise: Nigerian banker Aigboje Aig-Imoukhuede’s global vision unveiled
In a post-meeting interaction, Aig-Imoukhuede reaffirmed the group’s commitment to industry recapitalization and delivering consistent returns to shareholders.
Backed by Kenya’s richest, NCBA Bank hikes loan rates: What it means for your wallet
NCBA Bank Kenya justified the increase, citing the need to align with prevailing market conditions.
South African billionaire Koos Bekker’s Naspers pumps $56 million into share buyback to boost shareholder value
Naspers stays bullish on the future, reaffirming its focus on boosting shareholder value through ongoing share buybacks.
Egyptian tycoon Hani Berzi loses over $21 million from Edita stake in just 9 days
Berzi owns a significant 41.95-percent stake in Edita Food Industries through Quantum Invest BV.
Dangote’s half-brother Sayyu Dantata’s oil firm mulls Nigerian Exchange exit
Following a successful delisting, the board intends to seek shareholder authorization to list the company’s shares on the NASD OTC Securities Exchange.
South African billionaire Michiel Le Roux’s Capitec Bank reports $550.8 million in earnings
Demonstrating its commitment to shareholder returns, Capitec Bank’s board of directors declared a final dividend of R3.345 ($0.1754) per share on April 22, 2024.
Nigerian mogul Abdul Samad Rabiu loses $1.2 billion as naira weakens against U.S. dollar
Ranked as Nigeria’s third-richest person and Africa’s sixth by Forbes, Rabiu has recently experienced a notable drop in his wealth figures.
Moroccan tycoon Anas Sefrioui faces $190-million loss in ADH stake within a week
This downturn comes on the heels of a period of significant growth for Sefrioui, who experienced a surge of $242.76 million between March 7 and April 8.