South African billionaire Michiel Le Roux loses $85 million from Capitec stake
Le Roux owns an 11.39-percent stake in Capitec Bank, making him one of the richest men on the continent.
Hot News
‘Please Call Me’ inventor Nkosana Makate faces setback as Vodacom rejects $1.5-billion payment
Concerns were raised about the potential negative consequences on employees, shareholders, public finances, network investment, coverage, and social programs.
U.S. firm Vaalco Energy in talks to acquire oil company of Ethiopia’s richest man
For Mohammed Al-Amoudi, this potential deal represents an opportunity to derive further value from his investments in the oil and gas industry.
Egyptian magnate Waleed Zaki’s firm takes first step in $712-million project in New Cairo
The IVOIRE East project is envisioned to house more than 1,000 families, boasting an array of luxurious villas and duplexes alongside commercial and administrative areas.
Nigerian executive Yemi Ejidiran oversees Wemabod’s signing of $32-million bond
Ejidiran underscored the importance of the bond issuance program in rejuvenating Unity House and fostering residential development in Lagos’ central business district.
Egypt’s multimillionaire Khamis family loses nearly $70 million in 5 days
Despite the recent $69 million decline in the market value of their stake, the family maintains their position among Egypt’s wealthiest families and leading investors
Mombasa-based tycoon Mohamed Jaffer loses 24-year grain monopoly at Mombasa Port
This decision reshapes the grain handling landscape at the port, emphasizing the judiciary’s commitment to fostering a competitive market in Kenya.
Tony Elumelu’s UBA commits to attracting investments in ECOWAS mining sector
The pledge was reaffirmed at the fourth ECOWAS Mining and Petroleum Forum in Cotonou, Benin.
South African tycoon Fleetwood Grobler-led Sasol posts $7.1-billion half-year revenue
The macroeconomic environment, characterized by weaker oil and petrochemical prices, unstable product demand, and continued inflationary pressure, impacted Sasol’s performance.
Nigerian entrepreneur Affiong Williams’ firm launches $2.5-million dried-fruit processing plant
This initiative aligns seamlessly with Williams’ mission to empower underserved communities and reduce post-harvest losses, particularly in the realm of fruit production.
Moroccan royal family’s investment in Attijariwafa Bank surges to $5 billion
The royal family’s stake in Attijariwafa Bank has increased by MAD2.18 billion ($217.23 million) over the past 19 days, reaching MAD50.18 billion ($5 billion).
South African billionaire Christo Wiese returns to diamond mining roots
The 82-year-old South African businessman’s journey in the diamond industry began in 1976 when he purchased a mine along the Orange River.
Femi Otedola’s FBN Holdings emerges as Nigeria’s most valuable banking group
As of the close of trading on Mon., Feb. 25, FBN Holdings’ market capitalization reached an impressive N1.22 trillion ($791.1 million).
Egyptian tycoon Ashraf Sabry’s Fawry and LA Market join forces to boost local businesses
Fawry, with esteemed shareholders including the National Bank of Egypt and Banque Misr, has positioned itself as a key player in Africa’s fintech landscape.
Billionaire Patrice Motsepe donates $1.55 million to alleviate student debt in South Africa
Motsepe, who achieved the status of Africa’s first Black billionaire in 2008 through success in the mining industry, has consistently been a dedicated philanthropist.
Nigerian billionaire TY Danjuma unveils eye hospital in Taraba State
The launch of the eye hospital, signifies a significant milestone in TY Danjuma’s dedication to advancing healthcare infrastructure and addressing health issues in Nigeria.