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This follows a $59.19 million gain between May 15 and 23, when the market value of his shares climbed from EGP51.4 billion ($1.1 billion) to EGP54.1 billion ($1.16 billion).
Despite a tough fiscal year, the group plans to reward shareholders with a proposed dividend of N7.38 billion ($4.9 million)
Oando’s average production for 2023 was 20,837 barrels per day, slightly up from 20,703 barrels per day in 2022.
This ambitious plan relies on bringing three marginal fields online within the next year. Lulu-Briggs unveiled the strategy at the recent Offshore Technology Conference (OTC) in Houston.
The new sneaker line has been a smash hit in its first six months on the market, drawing comparisons to the initial triumph of the Yeezy sneakers launched in collaboration with Kanye West.
Michiel Le Roux, who owns 11.39 percent of Capitec Bank, or 13,190,043 shares, has seen the value of his stake decrease from $1.6 billion on May 20 to $1.49 billion.
This setback comes after a previous gain of $5.6 million recorded between April 3 and May 20.
The maiden consignment, comprising 45,000 metric tons of jet fuel, embarked on its journey to Rotterdam, Netherlands, aboard the vessel “Doric Breeze” from the Lekki Free Zone in Lagos on May 27.
Motsepe’s fortune peaked above $3 billion in May, but a $200 million decline linked to his stake in African Rainbow Minerals (ARM) has pushed his net worth to $2.8 billion.
Oriental weavers led and majority owned by the Egyptian Khamis family recently published its Q1, 2024 results.
The MoU, signed in Berlin on May 29, 2024, focuses on developing solutions for sustainable, resilient, and efficient power generation at Geregu’s existing plant.
This gain follows a period of decline, with Alami Lazraq’s shares in ADI dropping by $17.39 million between May 15 and 23
Eaton’s deepened partnership with Palantir under Craig Arnold is a step forward in the adoption of AI within industrial operations.
The recent sale aligns with a broader trend in the South African retail industry, where founding families reduce their control over companies.
Indian billionaire Gautam Adani has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania.
The South African billionaire Saltzman family holds a 35.1 percent stake in the company, valued at R9.97 billion ($529.23 million).