Black executive Kenneth Frazier gains $4 million from Merck stake in 29 days
Frazier, who ranks as one of America’s top Black executives, holds a minority stake of 0.028-percent stake in Merck & Co. with a present value of $92.30 million.
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Nigerian billionaire Olugbenga Agboola’s Flutterwave denies losing $7.25 million in security breach
As a security precaution, Flutterwave will notify some customers to migrate their accounts and is urging all customers to enable multifactor authentication, 3D security, and IP whitelisting.
Egyptian tycoon Hassan Allam’s group secures land access for $10-billion wind farm project
The landmark wind project, one of the world’s largest, will generate 47,790 gigawatt-hours (GWh) of clean energy annually.
Refinery of Africa’s richest billionaire Aliko Dangote to buy 24 million barrels of U.S. crude
Boasting the world’s largest single-train capacity (650,000 barrels per day), the Dangote Oil Refinery aims to wean Nigeria off its reliance on imported fuels.
U.S.-Nigerian tycoon Sam Darwish sees $9.6-million loss as IHS shares slide
This comes after a substantial gain of $7.4 million recorded between April 17 and May 1, when the market value of his stake skyrocketed from $43.41 million to $50.81 million.
Top Black CEO Marvin Ellison gains $1.2 million from Lowe’s shares in 15 days
This recent upswing comes on the heels of a previous downturn in Ellison’s wealth between April 1 and 19, during which his stake in Lowe’s decreased by $4.61 million.
Ronnie Apteker: Accidental entrepreneur who launched South Africa’s first Internet service provider
Prescient about the coming tech boom, he entered the industry when most Africans were unfamiliar with computers.
Egyptian billionaire Samih Sawiris’ firm sees revenue soar to $89 million in Q1 2024
The double-digit growth in Q1 2024 is attributed to accelerated construction activity across its various destinations and improved performance across all its operating segments.
Nigerian banker Aigboje Aig-Imoukhuede tapped to lead France-Nigeria Business Council
The announcement, made during the Choose France Summit 2024, solidifies Aig-Imoukhuede’s role in fostering economic ties between the two nations.
South African tycoon Zak Calisto’s Karooooo reports $230 million in revenue
Under Calisto’s leadership, the company has become a leading provider of intelligent transportation management and analytics.
Discovery stake dips, South African tycoon Barry Swartzberg sees $7.9-million loss
Despite this setback, Swartzberg remains one of South Africa’s wealthiest businessmen and a leading investor on the JSE.
Kenyan banker Gideon Muriuki’s Co-op Bank posts $50.25-million profit in Q1 2024
Muriuki, who has played a pivotal role in the bank’s expansion, holds a two-percent stake in the group, now valued at more than $12 million.
Lotis Towers undergo name change as Ugandan multimillionaire assumes ownership
The name change to “Arie Towers” reflects Ruparelia’s vision to reposition the building as a hub for business and commerce.
Bank linked to Ghanaian serial investor Daniel Ofori halts $42.9-million rights issue
The suspension follows the filing of an injunction by minority shareholders, specifically targeting the allotment of shares. Court hearings are scheduled to commence this week.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement to fund $78.9-million Lokoja-Benin road project
The financing will be facilitated through Nigeria’s tax credit scheme, designed to attract private sector participation in infrastructure development.
South African billionaire Michiel Le Roux loses $34.5 million from Capitec Bank stake
This recent slump compounds a previous loss of $76 million recorded between April 8 and 11, when the market value of his stake in Capitec Bank fell below $1.5 billion.