Nigerian gambling magnate Kessington Adebutu makes $26 million from Wema Bank
Adebutu owns a 28.09-percent stake in Wema Bank through Neemtree Limited.
Hot News
South African tycoon Adrian Gore loses $52 million as Discovery shares slump
Despite this setback, Gore maintains his status as a top figure among the richest investors on the JSE.
Africa’s first Black billionaire Patrice Motsepe’s bank targets $1-billion valuation
The bank is eyeing substantial funding of up to $100 million in a Series-D round.
Egypt’s billionaire El-Sewedy family gains nearly $100 million in less than two weeks
This upswing solidifies their position as one of Egypt’s wealthiest families and prominent investors on the Egyptian Exchange.
Meet Keneilwe Moloko: A leading force in South African corporate governance
Her career, spanning finance, real estate, and non-profit initiatives, showcases her as a visionary, a trusted advisor, and a catalyst for ethical and sustainable business practices.
Tiger Woods’ net worth hits $1.36 billion after Nike breakup
However, in a move that sent shockwaves through the sporting world, Woods recently parted ways with Nike. The reason for the split remains shrouded in secrecy.
South African multimillionaire Saltzman family suffers $22-million loss from Dis-Chem stake
The market value of the Saltzman family’s joint stake in Dis-Chem Pharmacies has declined from $487.7 million on Jan. 1 to $465.61 million.
Abdul Samad Rabiu overtakes Mike Adenuga as Nigeria’s second-richest man
Rabiu’s $7.2-billion fortune places him second in Nigeria, fifth in Africa, and 343rd globally on Forbes’ billionaires list.
South African tycoon Jannie Mouton makes $43 million in 15 days from Capitec Bank
Mouton is renowned for co-founding Capitec Bank with Michiel Le Roux, and Riaan Stassen. He presently owns a 5.11-percent stake in the leading retail bank.
South Africa’s richest man Johann Rupert gains $800 million in single day
The recent increase in his wealth figures, driven by a sharp rise in Richemont’s share price, trimmed his year-to-date losses to $442 million.
This Week In Review: A Snapshot of African Wealth Dynamics — Otedola’s Dangote Cement Investment Sparks Market Rally, Glasenberg Suffers $389-Million Loss in 2024 (Jan. 15 to 19)
Dive into a week of seismic shifts in African business: Big bets, soaring stocks, and fortunes on the move.
Egyptian billionaire Yasseen Mansour gains $5.2 million from real estate firm
Mansour owns a sizable 5.6-percent stake in the Cairo-based real estate firm.
Africa’s richest man Aliko Dangote makes $1.5 billion within 24 hours
The impressive surge in his fortune over the past 24 hours has seen his net worth increase from $15.5 billion to $17 billion.
Black executive Denise Singleton earns $2.8-million salary from WestRock in 2023
Singleton’s compensation package included a $0.69-million base salary and a non-equity incentive plan compensation of $0.45 million
Morocco’s royal family gains $260 million from Attijariwafa bank in 18 days
Al Mada, the private company owned by members of the Alaouite royal family, owns 46.4 percent, or 97,433,137 units of the total issued and paid-up shares, of the bank.
Kenyan billionaire Baloobhai Patel boosts stake in Co-op Bank with $1.43-million investment
This further solidifies Patel’s commitment to Co-op Bank, as he navigates the challenging market conditions marked by a bear run that has undervalued many banking stocks.