South African media tycoon Terrence Moolman loses $7.6 million from Caxton stake
Moolman’s stake in Caxton & CTP Publishers has seen a decline of $7.66 million over the last 72 days, signaling waning investor interest in Caxton on the JSE.
Hot News
Nigerian gambling magnate Kessington Adebutu faces $4-million loss in Wema Bank shares
This recent setback follows a surge in his fortune between March 8 and March 20, when his stake in Wema Bank increased by $2.3 million.
South African-British billionaire Clive Calder’s net worth takes $320-million hit
Calder’s wealth has decreased by $320 million since April 2. This equates to an average daily loss of $20 million over the specified period.
South African exec Anthony Leeming-led Sun Int’l finalizes $14.4-million exit from Nigeria
With Leeming at the helm, the leading hospitality and leisure group will sell a 43.3-percent equity stake in TCN, which operates the Federal Palace Hotel in Lagos.
Kenyan entrepreneur Thomas Njeru’s Pula raises $20 million to broaden insurance access for farmers
Pula’s successful fundraising round underscores the growing recognition of the vital role played by insurtech in bolstering climate resilience for smallholder farmers.
South African multimillionaire Saltzman family sees $44.1-million loss on Dis-Chem stake
Despite the decline, the Saltzmans remain prominent investors on the Johannesburg Stock Exchange (JSE).
Black businesswoman Cathy Hughes’ Urban One to acquire four Houston radio stations
The transaction, subject to regulatory approval and customary closing conditions, is expected to be finalized in Q3 2024.
Egyptian Egyptian businesswoman Hend El-Sherbini’s IDH posts $84.5-million revenue in 2023
El-Sherbini added that IDH’s core markets of Egypt and Jordan displayed strong growth, indicating further potential.
Kenya’s richest banker James Mwangi loses $3.3 million from stake in Equity Group
Mwangi, Kenya’s richest banker, holds a 3.38-percent stake in Equity Group. This equates to 127,809,180 ordinary shares.
Africa’s richest person Aliko Dangote’s refinery slashes diesel prices in Nigeria
The recent price cut follows the commencement of operations at the Dangote Oil Refinery, a landmark achievement for Nigeria’s pursuit of energy independence.
African-American billionaire Alex Karp’s loses $100 million in 16 days
The decline in Karp’s fortune comes despite Palantir achieving impressive milestones under his leadership.
Nigerian tycoon Atedo Peterside loses $3.4 million from Stanbic IBTC stake
While Peterside faces a significant decline in his stake in Stanbic IBTC, he remains poised to benefit from impressive dividends proposed by the leading Nigerian bank.
South African billionaire Koos Bekker’s Prosus backs Sydney startup in $33-million raise
Prosus, a global consumer internet group founded in 1997 under South African billionaire Koos Bekker’s leadership, has become one of the world’s largest technology investors.
South African tycoon Gus Attridge gains $7.95 million from Aspen shares
The latest bump in his fortune comes on the heels of previous gains between Feb. 12 and March 24, when his stake in Aspen grew by R447.12 million ($25.12 million).
Nigerian energy tycoon Austin Avuru-linked Seplat generates $1.7-billion cash flow in last decade
Since its IPO on the Nigerian Exchange and London Stock Exchange in 2014, Seplat Energy has generated $1.7 billion in cash flow.
Kenyan tycoon Narendra Raval’s Devki Group secures $32.7-million credit facility
The news of this substantial credit facility coincides with Narendra Raval’s decision to shift a significant portion of Devki Group’s business accounts to Stanbic Bank Kenya.