Kenyan tycoon James Mwangi leads Cogebanque into merger with Equity Bank Rwanda
Equity Group envisions expanding opportunities for wealth creation while upholding the highest standards of service excellence, innovation, and financial inclusion.
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Kenyan Ndegwa family-linked ILAM Fahari continues NSE trading amid pending delisting
Last August, ICEA Lion Asset Management, controlled by the heirs of the late Kenyan banking magnate Philip Ndegwa, extended a buyout offer totaling $2.77 million.
Egyptian billionaire El-Sewedy family gains $775 million in 2023
In 2023, Elsewedy Electric shares on the Egyptian Exchange experienced a remarkable surge of 130.7 percent.
4 companies linked to South African tycoon Kennedy Bungane
From leading multimillion-dollar deals to steering diverse companies, Bungane’s strategic brilliance leaves an indelible mark on banking, energy, and investments.
Kenyan multimillionaire banker James Mwangi faces $19.2-million loss in 2023
This follows the financial setback he experienced in 2022 when Equity Group shares dropped significantly with Mwangi’s stake in the lender declining by $13 million.
World’s richest Black woman Oprah Winfrey made $300 million in 2023
The surge in Winfrey’s net worth is attributed to the revaluation of her portfolio of assets and her diversified business ventures within the media and entertainment industry.
Nigerian businessman Dozy Mmobuosi faces 45-year sentence in US
If convicted on all charges, Mmobuosi risks serving a maximum sentence of 45 years.
South African executive Eric Smuts earns $1-million salary from Nampak in 2023
Smuts — who stepped down as CEO of Nampak on April 20, 2023 — received a compensation package comprising a base salary of R4.73 million ($0.256 million)
Botswana tycoon Farouk Ismail sees $3.4 million eroded from Choppies stake in 2023
Despite the plunge, Ismail continues to stand out as a top figure on the Botswana Stock Exchange.
Idrissa Nassa’s bank partners with Canadian firm in $100-million facility to back gold project
Nassa commended the collaborative efforts of the teams from West African Resources, Sprott, and Coris Bank.
Black executive Lloyd Howell earns $3.5-million salary from Booz Allen in 2023
This compensation package which underscores his commitment and expertise as a seasoned business executive.
7 companies owned by South African mining tycoon Sipho Nkosi
From Eyesizwe Holdings to Tronox Holdings, witness the enduring impact of Nkosi’s legacy on business, social development, and inclusive economic practices.
South African tycoon Laurie Dippenaar gained $59 million in 2023 from FirstRand
Presently, Dippenaar holds a 1.76-percent stake in FirstRand, to 98,726,988 shares — this stake makes him one of South Africa’s leading investors.
Somali businessman Abdirashid Duale’s Somtel launches Somali’s first 5G network
Duale emphasized that this move aligns with the vision for a tech-driven future, positioning the region for increased foreign investment and a flourishing tech scene.
Jay-Z’s wealth soars to $2.5 billion with $1.3-billion boost in 2023
The driving force behind Jay-Z’s remarkable financial growth was the sale of a 50-percent stake in the high-end cognac label, D’Usse, to Bacardi.
Mega-refinery of world’s richest Black billionaire welcomes fourth crude shipment
This delivery follows three previous shipments in December 2023.