South African billionaire Christo Wiese’s stake in Shoprite slumps by $50 million
Wiese owns an 11.5-percent stake in the leading supermarket chain, which translates to a total of 68,083,200 ordinary shares in the group.
Latest News
Nigerian billionaire Femi Otedola’s Geregu Power surpasses N2-trillion milestone
Geregu Power’s exceptional financial performance has solidified its position as one of Nigeria’s most profitable entities.
Egyptian billionaire Ghabbour family gains nearly $12 million in 3 days
The Ghabbour family holds a significant 62.9-percent stake in the automaker, or 682,779,500 ordinary shares.
Led by Kenyan exec Priscilla Gathungu, Java expands with two outlets in Nairobi
Under the leadership of CEO Priscilla Gathungu, appointed in November 2022, the company has pursued an aggressive expansion strategy.
Moroccan pharma tycoon Lamia Tazi suffers $3-million loss from Sothema stake
Tazi, the CEO and chairperson of Sothema holds a substantial 8.4-percent stake in the leading healthcare company.
Companies owned by the world’s richest Black woman, Oprah Winfrey
Winfrey’s story is one of empowerment, philanthropy, and astute entrepreneurship, making her a trailblazer in both media and business.
Mega refinery owned by Africa’s richest man set to export two cargoes of fuel oil
Trafigura Group, a multinational commodity trading company headquartered in Singapore, has been awarded the contract for the inaugural shipment.
Kenyan tycoon Baloobhai Patel’s Bamburi Cement expects $2.57 million in savings with solar plants
Patel, a Kenyan multimillionaire and owner of a 4.12-percent stake in Bamburi Cement through his private investment company, Aksaya Investment.
North Africa’s richest man considers breaking up his billion-dollar empire
Sawiris hails U.S. investor Jeff Ubben’s influence as OCI embraces strategic overhaul.
South African tycoon Jonathan Jawno’s Transaction Capital eyes $65 million in WeBuyCars unbundling
As a founding member of Transaction Capital, Jawno holds a 9.59-percent stake in the group, making him the second-largest shareholder.
Top Black CEO Marvin Ellison gains $3.3 million from Lowe’s shares
The recent $3.35-million surge in Ellison’s stake in Lowe’s further solidifies his position as one of the wealthiest Black CEOs in the U.S.
Zimbabwe’s richest man Strive Masiyiwa adds $100 million to net worth in 2024
Masiyiwa’s strategic investments and resilient portfolio have not only weathered currency devaluations but have also propelled him to new heights in the realm of global wealth.
Aga Khan IV gains $1.7 million from stake in Nairobi-based insurer
Through the Aga Khan Fund for Economic Development, Aga Khan IV owns 37.98 percent of Jubilee Holdings and 11.85 percent of its Mauritian subsidiary.
South African executive Simon Crutchley pockets $2.8-million salary in 2023
In addition to his executive roles, Crutchley holds a 0.25-percent stake in AVI Limited.
Egyptian billionaire Samih Sawiris’ firm posts $631 million in revenue in 2023
Orascom Development Egypt, majority owned by Orascom Development Holding, operates within the orbit of businesses associated with the Sawiris family.
Egypt’s newest billionaire Hisham Talaat Moustafa’s TMG stake hits $1.3 billion
Hisham Talaat Moustafa is not only one of the wealthiest investors on the Egyptian Exchange but also one of the wealthiest people in the entire North African region