South African tycoon Gerrie Fourie gains $8.6 million in 65 days
Fourie’s stake in Capitec Bank has risen by R2.16 billion ($8.63 million) over the past 65 days, solidifying his position among South Africa’s top executives.
Hot News
Egyptian billionaire Hisham Talaat Moustafa faces $727-million loss due to devaluation
Despite the setback and financial challenges, Moustafa remains a prominent figure in the Egyptian business landscape.
Nigerian-born British boxer Anthony Joshua secures $50 million in recent Riyadh bout
Beyond the financial rewards of his $50 million purse, Joshua’s victory represents a significant personal and professional triumph.
South Africa’s richest man Johann Rupert’s fortune surges to $14.1 billion
The $600-million recent surge in his fortune is linked to the performance of Rupert’s 9.14-percent stake in Richemont.
Tony Elumelu’s Heirs Energies expands gas supply operations to boost power generation in Nigeria
The recent success of Heirs Energies is linked to strategic acquisitions.
Nigerian billionaire Femi Otedola’s energy firm targets $23.9-million revenue in Q2 2024
According to the latest earnings forecast, the power-generating giant is optimistic about achieving a gross profit of N20.79 billion ($13.04 million) in the second quarter of 2024.
Africa’s first Black billionaire Patrice Motsepe’s ARM reports $157.8 million in earnings
Headline earnings plummeted by 43 percent, falling from R5.17 billion ($275.5 million) in the first half of 2023 to R2.96 billion ($157.8 million) in the same period of 2024.
South African exec Neal Froneman views Sibanye-Stillwater’s rights offer as a last resort
Speaking at the group’s annual results presentation, Froneman stressed that such an offer would be a last resort measure.
South African billionaire Patrice Motsepe-backed Sanlam posts $73-million profit in 2023
Sanlam CEO Paul Hanratty, a notable figure in South Africa’s business landscape, lauded the company’s robust delivery in the face of extraordinary challenges during the past fiscal year.
Elon Musk’s Starlink raises hardware prices by 112 percent in Nigeria
While Starlink has not officially addressed the reasons behind the price increment, the timing of the move coincides with Nigeria’s recent currency devaluation.
South African exec Shameel Joosub-led Vodacom launches digital skills initiative to combat youth unemployment
The initiative aims to provide free access to digital training courses through the newly unveiled Mzansi Digital Learning platform.
Led by South African Ackerman family, Pick ‘n Pay set to liquidate Baladakis Stores
As the legal battle unfolds, the retail industry watches closely to see the implications and outcomes of Pick ‘n Pay’s unprecedented move to liquidate a major franchisee in its extensive network.
South African billionaire Saltzman Family gains $41 million from Dis-Chem shares
Thanks to the recent upswing in Dis-Chem’s shares, the Saltzman family’s stake in Dis-Chem has surged by R776.36 million ($41.42 million) since Feb. 19.
Tony Elumelu advocates privatization of Nigeria’s electricity transmission lines
Elumelu urged the government to facilitate the transfer of idle gas assets or fields to capable Nigerian investors, fostering gas-related investments and efficient electricity production.
Malagasy tycoon Hassanein Hiridjee’s Axian Telecom maintains resilient ratings despite operational hurdles
Under the leadership of Hiridjee, Axian Telecom has achieved remarkable growth since 2015, ranking as Africa’s seventh-largest mobile operator.
Billionaire Michael Lee-Chin sells $9.8-million stake from Jamaica’s biggest lender
The sale comes amid NCBFG’s plans for an additional public offering (APO) aimed at issuing between 300–450 million new shares to raise over $20 billion.