Egyptian businessman Medhat Khalil loses $28.6 million from Raya Holding stake
Khalil owns a majority stake of 58.1 percent in Raya Holding, holding a total of 1,245,661,205 shares in the group.
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Nigerian tycoon Taiwo Afolabi’s Sifax Group partners Singaporean firm on aviation development
Afolabi emphasized the consortium’s commitment to leveraging its track record of success in revitalizing enterprises for growth and profitability.
South African executive Jan Hofmeyr pockets $1 million from OUTsurance in 2023
Serving as the group’s CFO since 2008, Hofmeyr experienced a notable 62.19-percent increase in remuneration compared to the previous year’s R11.09 million ($0.59 million).
Namibian businessman Quinton van Rooyen rakes in $10.6 million within 2 weeks
Van Rooyen, holding an impressive 63.94-percent stake in Trustco with 1,004,000,060 shares, stands out as one of Namibia’s wealthiest individuals.
Nigerian tycoon Fidelis Ayebae’s Fidson achieves revenue exceeding $37 million in 2023
The surge in revenue is linked to the heightened sales of ethical products, including infusions, capsules, and tablets.
Swazi billionaire Natie Kirsh adds $160 million to his fortune in just 19 days
The primary driver behind this surge is attributed to the impressive performance of his 75-percent stake in Jetro Holdings.
South African executive Seelan Gobalsamy pockets $4.9-million salary in 2023
In 2023, Gobalsamy’s compensation experienced a significant increase of 179.4 percent compared to the previous year, when it stood at $1.8 million.
Led by Zimbabwean exec Ralph Mupita, MTN secures $200 million from Mastercard
This investment commitment to fostering technological and infrastructural development across Africa.
Family feud erupts over Naivas shares as heirs of Kenyan business titan seek control
Newton Kagira Mukuha, in his application, argued that certain assets within the estate have not been properly distributed, expressing worries over lack of representation.
Bill Gates- and Jeff Bezos-backed mining venture discovers copper deposit in Zambia
With backing from Breakthrough Energy Ventures, led by Gates and Bezos, KoBold is poised to advance its operations rapidly to meet the surging global demand.
Egyptian multimillionaire and steel magnate Ahmed Ezz faces $100-million loss in just 8 days
Ezz owns 60.7 percent of Ezz Steel, which translates to 329,816,198 shares in the steel behemoth.
South African executive Fleetwood Grobler pockets $2.1-million salary in 2023
Despite a 5.24-percent decrease compared to the previous year’s R42.95 million ($2.26 million), Grobler’s leadership continues to play a key role in Sasol’s financial performance.
South African-born billionaire Patrick Soon-Shiong gains $320 million within 72 hours
This financial turnaround, pushing Soon-Shiong’s fortune beyond the $10-billion milestone, reaffirms his position among Africa’s wealthiest billionaires.
Ghanaian businessman to send 600 students to study in Russia after $1-billion deal
The initiative comes on the heels of Jospong Group’s recent $1-billion deal with Indian carbon credit developer EKI Energy Services.
South African mogul Neal Froneman remains resilient in Sibanye’s copper asset pursuit
Froneman emphasized the challenges of the current copper market, acknowledging its prior overheating but highlighting a gradual recovery.
Egypt’s billionaire El-Sewedy family loses $126 million in just six days
Ahmed El-Sewedy and his siblings, Sadek and Mohammed, hold a beneficial stake of 68.1 percent in the company, equivalent to a total of 1,478,358,330 ordinary shares.