Universal Music Group acquires majority stake in Don Jazzy’s Mavin Global
The deal is poised to close by the end of Q3 2024, heralding a new chapter for Mavin Global under the stewardship of Universal Music Group.
Hot News
Nigerian tycoon Taiwo Afolabi’s group halts port operations in wake of terminal fire
The incident occurred on Saturday, February 24, impacting the facilities of Port and Cargo Handling Services Limited, a key subsidiary of the conglomerate.
Nigerian president appoints billionaire business leaders to Economic Advisory Committee
In the face of economic challenges, Nigerian billionaire Aliko Dangote emphasizes the need for swift and decisive action from both the public and private sectors.
Patrice Motsepe’s stake in ARM declines by $137 million
Motsepe, Africa’s first Black billionaire and a prominent South African tycoon, holds a 45.9-percent stake in ARM, or 89,905,401 shares.
South African tycoon Vivian Reddy reveals $1.55-million annual spend on diesel
Reddy, renowned for his transformative Oceans Mall Umhlanga venture, estimated an annual expenditure of nearly $1.55 million solely on diesel to counter the disruptions caused by power outages.
Hani Berzi’s Edita goes digital with Fawry to facilitate cashless collections
Founded by Berzi in 1996, Edita Food Industries has established itself as a key player in Egypt’s food industry landscape.
Nigerian tycoon Tayo Amusan’s consortium unveils $100-million arena in Lagos
Amusan’s consortium aims to create Africa’s first live entertainment hub, The Arena.
Ethiopia’s richest man Mohammed Al-Amoudi gains $130 million in two weeks
The surge in his fortune propels Al-Amoudi to 259th place on the prestigious list of the world’s 500 wealthiest billionaires.
Morocco’s richest banker Othman Benjeloun’s group signs deal to drive expansion in Africa
Benjelloun, a leading Moroccan billionaire and the driving force behind BOA Group, holds a significant 27.41-percent stake in the leading group.
South African billionaire Christo Wiese loses $30 million from Shoprite stake
Wiese holds a 10.67-percent stake in Shoprite, equivalent to 63,110,920 shares valued at over $850 million.
Preliminary reports confirm helicopter carrying Nigerian banker was on fire before crash
Eyewitnesses reported adverse weather conditions, including rain and a mix of snow, during the helicopter’s journey.
Ethiopian banker Dereje Zebene-led Zemen Bank secures $30-million facility from IFC
Zemen Bank, established in 2008, has emerged as a key player in Ethiopia’s financial services industry.
Uber in talks to back British-Nigerian entrepreneur Ladi Delano’s startup, Moove
Sources familiar with the negotiations have disclosed that the investment could potentially reach $100 million, marking a substantial milestone for both companies.
Egyptian billionaire Ahmed El-Sewedy-led electric firm unveils industrial city in Tanzania
Spanning an expansive 2.6 million square meters, EIC represents East Africa’s first fully integrated industrial hub.
South African tycoon Neal Froneman-led Sibanye cuts 2,600 jobs at platinum mines
Froneman emphasized the necessity of these measures, affirming that the restructuring initiative aims to salvage the sustainability of the company’s operations.
South African tech tycoon Zak Calisto loses $26 million from Karooooo stake
Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company.