Nigeria’s second-richest man declares 50-percent salary increase across his group
This highlights Rabiu’s dedication to supporting his entire workforce during tough economic times, acknowledging the challenges faced by his employees.
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Egypt’s Khamis family gains $38.7 million from Oriental Weavers stake
The Khamis family, one of Egypt’s wealthiest, currently holds a majority stake in Oriental Weavers, a leading carpet manufacturer with a global presence.
South African executive John Copelyn earns $1.2-million salary in 2023
Copelyn’s strategic leadership propels Hosken Consolidated Investments Limited (HCI) to a record-breaking 58.6-percent profit surge in 2023.
South African tycoon Giovanni Ravazzotti loses $31.5 million from Italtile stake
Ravazzotti, a top figure in the South African business arena, owns a 33.88-percent stake in Italtile — this amounts to a total of 447,746,694 shares in the company.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods invests $200 million in sugar estate
The conglomerate is majority-owned by Nigeria’s second-richest man, Abdul Samad Rabiu, and his son, Isyaku Naziru Rabiu.
South African billionaire Michiel Le Roux gains $100 million within 24 hours
The recent uptick in his fortune can be attributed to the performance of his 11.39-percent stake in Capitec Bank.
Nigerian billionaire Femi Otedola’s net worth rises by $300 million despite naira devaluation
The upswing in Otedola’s net worth is attributed to the remarkable performance of his 78.64-percent stake in Geregu Power Plc.
South Africa’s richest man Johann Rupert gains $500 million in just 9 days
Rupert has cemented his status as South Africa’s richest individual, maintaining his lead over fellow South African magnate Nicky Oppenheimer.
Companies owned by Nigerian multimillionaire businessman Tony Elumelu
Beyond his ventures, Elumelu champions entrepreneurship. The Tony Elumelu Foundation empowers African entrepreneurs through seed capital, training, and mentorship.
Food business of Nigeria’s second-richest man faces uncertainty amid FX rate volatility
BUA Foods Managing Director Ayodele Abioye unveils BUA Foods’ struggle with FX rate instability.
Companies owned by African-American billionaire filmmaker Tyler Perry
From iconic film studios to streaming platforms, wines, fashion, and philanthropy, delve into the seven companies that contribute to Perry’s $1-billion empire.
South African executive Michael Koursaris pockets $1-million salary in 2023
Koursaris started at AVI in 2002 as a business development analyst and rose to become a business development executive in January 2011.
Moroccan businessman Anas Sefrioui loses $26 million from ADH stake
Despite the decline in the market value of his stake – Sefrioui remains one of the richest investors on the Casablanca bourse and one of the country’s richest businessmen.
Workflow platform backed by America’s richest Black man acquires AI firm, Drift
The strategic integration aims to reshape B2B buyer engagements and amplify the capabilities of both companies in the rapidly evolving field of artificial intelligence.
South African executive Tim Jacobs takes home $1.3-million salary in 2023
The compensation package marks a notable 27.8 percent increase compared to the R19.92 million ($1.05 million) remuneration he received in the previous fiscal year.
South African tycoon Stephen Brookes faces $1.4-million loss from Balwin stake
Brookes, a South African real estate mogul who founded Balwin Properties in 1996, is the company’s largest shareholder, holding 170,374,031 shares, or a 36.08-percent stake.