Nigerian tycoon Tony Elumelu-linked power company posts revenue exceeding $100 million in 2023
The surge in the company’s revenue led to a significant 74.9-percent jump in profit, reaching N30.23 billion ($23.15 million) at the end of 2023.
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Nigeria’s richest banker Jim Ovia’s stake in Zenith Bank grows by $20.4 million
This recent gain strengthens Ovia’s position as Nigeria’s wealthiest banker, underscoring his success as a leading figure in the financial services industry.
African-American billionaire Alex Karp’s fortune drops $100 million in 19 days
The pullback coincides with a recent downgrade of Palantir Technologies (PLTR), the data analytics software firm Karp co-founded.
Kenyan tycoon Gideon Muriuki’s Co-op Bank to distribute $66.45-million dividend
The proposed dividend marks a significant milestone for the group and reflects its strong financial position.
Britam, owned by Kenya’s richest investors, pours nearly $5 million into fund
This move, aimed at shoring up the unit’s liquidity, brings Britam’s total cash injection into the fund to Ksh6.9 billion ($53.1 million) as of December 2023.
Late Nigerian banker Herbert Wigwe led Access Holdings to $451-million profit in 2023
While Wigwe’s leadership is sorely missed, his impact remains evident in the group’s record-breaking 2023 profits.
South African billionaire Stephen Saad leads Aspen to record $1.1-billion revenue
Aspen anticipates a robust second half of 2024, supported by the launch of sterile manufacturing contracts and continued growth in its active pharmaceutical ingredients (API) business.
Black executive Kenneth Frazier’s stake in Merck & Co. tops $90 million
Frazier, a prominent Black executive in the U.S., holds a 0.028-percent stake in Merck & Co., which is currently valued at more than $90 million.
South African billionaire Koos Bekker gains $36.7 million from Naspers stake
This further cements Bekker’s position as a leading South African business figure and a top investor on the Johannesburg Stock Exchange (JSE).
Diddy faces nearly $100-million debt on luxury LA, Miami mansions raided by feds
Despite his immense wealth and fame, Diddy still finds himself burdened with a substantial debt, with $100 million remaining unpaid.
South African mogul Neal Froneman’s investment in Sibanye eyes $10-million valuation
According to data tracked by Billionaires.Africa, the recent surge in Sibanye shares on the JSE has resulted in a notable increase in Froneman’s stake.
U.S.-Nigerian telecom tycoon Sam Darwish’s stake in IHS gains $14 million
Darwish, chairman and CEO of IHS Holding, a major figure in African telecom, holds a significant 4.17-percent ownership stake, or 13,958,158 ordinary shares.
Barloworld keeps revenue above $800 million under South African executive Dominic Sewela
The group’s revenue for the period under review was R15.6 billion ($827.67 million), reflecting a 5.5-percent decrease from R16.5 billion ($874.29 million) in the previous year.
Despite $1.4-billion wealth, Rihanna pushes Fenty Beauty into China
The decision to expand into China follows its recent entry into the Indian market, underscoring Rihanna’s ambition to build a global beauty empire.
Britam, backed by top Kenyan magnates, sees profits surge to $24.1 million
Key shareholders, including prominent Kenyan business figures like Mbaru, Munga, Mwangi, and Michuki, lend further credence to the company’s standing.
Egypt’s wealthy Khamis family loses nearly $90 million as Egyptian pound tumbles
Despite recent financial headwinds stemming from the Egyptian pound’s devaluation, the Khamis family remains among the country’s most affluent and prominent investors.