Oprah Winfrey denies $1-million payment for endorsing Kamala Harris’ campaign
The media mogul clarifies she was not compensated for supporting the Democratic candidate.
Latest News
Luxury online retailer, linked to South Africa’s richest man, to exit Chinese market
The decision to exit China underscores the increasing pressures faced by luxury retailers in the world’s second-largest economy.
Aliko Dangote’s sugar firm raises $28.8 million via commercial paper
Despite challenges, Dangote Sugar aims to leverage the funds raised from the Notes to meet its operational and growth objectives.
Egyptian businessman Ahmed Ezz gains nearly $45 million from Ezz Steel stake
This surge follows a previous increase of EGP5.28 billion ($113.13 million) between May 12 and 21.
Africa’s first female billionaire Isabel dos Santos fights $734-million asset freeze
The legal battle continues as dos Santos seeks to overturn the freezing order and address the charges against her.
Britam, owned by Kenya’s richest investors, plans entry into DRC market
DRC’s liberalized insurance sector, valued at $300 million in 2023, presents substantial growth prospects for Britam Holdings.
FirstRand stake of South African tycoon Laurie Dippenaar nears $400 million
Laurie Dippenaar currently holds a 1.76-percent stake in FirstRand, amounting to 98,726,988 shares, making him one of South Africa’s leading investors.
Wema Bank backed by Kessington Adebutu secures approval to raise $26.3 million
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have approved the bank’s $26.3 million rights issue.
Nigerian banker Segun Agbaje-led GTCO eyes July for $329-million capital raise
The capital raise, aimed at generating N500 billion ($329.5 million) through the issuance of ordinary shares, underscores GTCO’s strategy to bolster its technological infrastructure
Johann Rupert loses $300 million as Richemont shares slide
The recent $300 million decline in Johann Rupert’s wealth is tied to the performance of his 10.18 percent stake in Richemont.
Sim Tshabalala-led Standard Bank to fund $5-billion East Africa pipeline project
As global scrutiny intensifies over fossil fuel projects, Standard Bank’s decision to support EACOP is set to influence the trajectory of similar ventures across the continent.
Nigerian businessman Arthur Eze recovers stolen assets worth millions of dollars
The EFCC upheld the forfeiture of 20 properties, 10 vehicles, and luxury watches to Eze, dismissing appeals by his brothers.
South African tech entrepreneur Zak Calisto eyes billion-dollar fortune
Year-to-date, Karooooo shares are up 48.27%, offering substantial returns to shareholders, exemplifying robust market performance.
UK impact investor sells $27-million stake in bank founded by Kenyan businessman
The recent acquisition of BII’s stake by the local investor enhances I&M Group’s local ownership and strengthens its market understanding and operational agility.
Strive Masiyiwa’s firm becomes Africa’s first Google Cloud Interconnect provider
This milestone, driven by its strategic partnership with Google Cloud services, enables Liquid C2 to deliver direct, high-speed access to Google Cloud
South African tycoon Adrian Gore makes $32 million from Discovery stake
This uptick follows a period of steady gains for Gore, with his Discovery stake growing by $22 million between May 15 and 29.