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Egyptian businessman Mohammed Elsewedy's stake in electric giant exceeds $770 million
Elsewedy, who serves as the company's vice president, holds a 17.76-percent stake —equivalent to 385.6 million ordinary shares.
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Nigerian tycoon Aliko Dangote invests $25 billion in oil, cement, and sugar in seven years
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Nigerian pharma tycoon Fidelis Ayebae's Fidson receives support to expand production capacity
The collaboration with NEXIM is expected to position Fidson for a stronger presence in Africa's rapidly expanding pharmaceutical market.
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Egyptian businessman Mohammed Elsewedy's stake in electric giant exceeds $770 million
Elsewedy, who serves as the company's vice president, holds a 17.76-percent stake —equivalent to 385.6 million ordinary shares.
Egyptian billionaire Yasseen Mansour’s Palm Hills to increase stake in Macor Hotels
Palm Hills, which already owns 60.3 percent of Macor Hotels, will raise its ownership to 69.8 percent by acquiring a 9.5-percent stake.
South African tycoon Terrence Moolman sees $9.2-million increase from Caxton shares
This gain brings his total holdings to nearly $130 million, reinforcing his position as a leading figure in South Africa's media industry.
Egyptian businessman Mohammed Elsewedy's stake in electric giant exceeds $770 million
Elsewedy, who serves as the company's vice president, holds a 17.76-percent stake —equivalent to 385.6 million ordinary shares.
Egyptian billionaire Hisham Talaat Moustafa’s TMG stake rebounds above $1.3 billion
This recovery follows a brief decline of EGP6.03 billion ($124.2 million) between July 9 and Aug. 1
Egypt’s richest man Nassef Sawiris's net worth grows by $1.15 billion
His wealth increase puts him among the select African billionaires whose wealth has swelled by over a billion dollars this year.
Electric firm owned by Egyptian billionaire El-Sewedy family lands $1 billion deal with Saudi Electric
Elsewedy Electric has secured a $1-billion partnership with Saudi Electricity Company to enhance energy infrastructure in the Middle East.
Egyptian steel magnate Ahmed Ezz’s stake in Ezz Steel rises by over $100 million
In just two weeks, the Egyptian steel magnate has seen his stake in the steel giant appreciate by more than $100 million amid soaring investor confidence.
Egyptian billionaire Yasseen Mansour’s Palm Hills approves $212.3-million loan for Badya project
Badya, Palm Hills Developments' flagship smart city, leads the way in innovative property development in the MENA region.
Moroccan pharma tycoon Lamia Tazi faces $3.35 million loss as Sothema shares dip
Lamia Tazi’s stake in Sothema dips below $65 million as shares slide
Moroccan real estate mogul Alami Lazraq’s ADI stake nears $400 million
Real estate mogul Alami Lazraq’s wealth climbs amid soaring ADI shares.
Ghanaian businessman Kevin Okyere’s Springfield secures deepsea rig for Afina well appraisal in Ghana
Located in the West Cape Three Points Block 2 (WCTP-2), deep offshore Ghana, the Afina-1x well is pivotal to the company’s long-term oil production strategy.
U.S. tech billionaire David Steward overtakes Aliko Dangote as world's richest Black person
In just two years, Steward's wealth has nearly doubled, up from $6 billion in 2022 to $7.6 billion in 2023, before reaching its current level.
Access Holdings, led by Nigerian banker Aigboje Aig-Imoukhuede, merges pension units to strengthen market position
This strategic consolidation is aimed at enhancing the company’s operational capabilities and fostering innovation in Nigeria's expanding pension sector.
Power Play: Johann Rupert overtakes Aliko Dangote again as Africa’s richest man
South Africa’s Johann Rupert reclaims the title of Africa’s richest individual with a net worth of $14.2 billion, surpassing Nigeria's Aliko Dangote.
Greek tycoon John Coumantaros' Flour Mills of Nigeria plans to raise $120 million in capital
This move aims to strengthen the company’s financial base as it continues its aggressive growth trajectory, buoyed by recent stock gains and strong financial performance.
Nigerian pharma tycoon Fidelis Ayebae's Fidson receives support to expand production capacity
The collaboration with NEXIM is expected to position Fidson for a stronger presence in Africa's rapidly expanding pharmaceutical market.
Seplat, co-founded by Austin Avuru, nears completion of $1.3-billion ExxonMobil deal
The $1.3-billion transaction initiated in 2022 had faced delays due to Nigeria’s stringent legal landscape and approval bottlenecks.
Access Bank, linked to Aigboje Aig-Imoukhuede, partners with stakeholders on renewable energy
This move aims to strengthen the Nigerian economy while aligning with global sustainability goals.
NCBA, backed by Kenya’s richest families, partners with fintech firm to boost African remittances
The collaboration aims to make money transfers faster, safer, and more affordable.
Kenyan tycoon Andrew Ndegwa’s stake in NCBA surges above $26 million
Ndegwa sees $3.82-million gain as NCBA Group shares surge 16.8 percent on the Nairobi Securities Exchange.
Kenyan tycoon John Kimani's stake rebounds above $22 million
John Kimani, has seen his shares in Kakuzi surpass $22 million (Ksh2.87 billion), marking a gain of Ksh383.4 million ($2.97 million) in just eight days.
Britam, owned by Kenya's richest investors, eyes investors with fixed-income dollar fund
This strategic move aims to tap into the growing interest in dollar-denominated instruments.
Mauritian tycoon Arnaud Lagesse guides IBL to record $2.2-billion revenue in H1 2024
IBL Group sees record-breaking revenue of $2.2 billion under Mauritian businessman Arnaud Lagesse's leadership.
Kenya’s richest banker James Mwangi gains $5.3 million from stake in Equity Group
Mwangi, who holds a 3.38 percent stake, equivalent to 127,809,180 ordinary shares, has seen his investment rebound by Ksh683.78 million ($5.3 million) over the past seven weeks.
Luxury apartments worth $7.7 million handed over by firm linked to Kenyan billionaire heiress Mary-Ann Musangi
The luxury units are priced between Ksh36 million ($280,000) and Ksh52 million ($404,000), reflecting a significant increase in value.
Kenyan executive Peter Ndegwa-led Safaricom resumes talks with Starlink as competition heats up
This comes as Safaricom confronts an increasingly competitive environment in its home market, where it has historically maintained a stronghold.
South African tycoon Terrence Moolman sees $9.2-million increase from Caxton shares
This gain brings his total holdings to nearly $130 million, reinforcing his position as a leading figure in South Africa's media industry.
Africa’s largest asset manager invests $494 million in Neal Froneman-led Sibanye
Sibanye receives a significant boost with a nearly $500-million investment from the South African government's wholly-owned asset management firm.
South African billionaire Michiel Le Roux’s Capitec Bank reports $369.4-million half-year profit
This rise from R4.69 billion ($270.22 million) in the same period last year highlights Capitec Bank’s resilience in a tough global economy.
Botswana tycoon Ramachandran Ottapathu leads Choppies to $12.5-million profit
Choppies' profit for the period reached BWP164 million ($12.5 million), up from BWP150 million ($11.4 million) in the previous fiscal year.
Power Play: Johann Rupert overtakes Aliko Dangote again as Africa’s richest man
South Africa’s Johann Rupert reclaims the title of Africa’s richest individual with a net worth of $14.2 billion, surpassing Nigeria's Aliko Dangote.
TymeBank, backed by Africa’s first Black billionaire Patrice Motsepe, hits 10-million-customer milestone
The bank, backed by Motsepe, has rapidly expanded since its launch in 2019, transforming the financial landscape in South Africa and beyond.
South African tycoon Stephen Brookes gains $2.3 million from Balwin stake in 10 days
Real estate mogul Stephen Brookes, the founder and the largest shareholder of Balwin Properties, owns 36.08 percent of the Johannesburg-based property developer.
Zimbabwean tycoon Zed Koudounaris’ Innscor posts $48.2-million profit in 2024
Innscor Africa reports robust 2024 financial performance driven by robust performances across its primary business lines.
Ethiopia’s richest man Mohammed Al-Amoudi’s fortune rises $190 million in 19 days
Al-Amoudi’s net worth has jumped from $9.12 billion on April 26 to $9.31 billion as of this report. This translates to an average daily gain of $10 million since April 26.
Ethiopia’s richest man Mohammed Al-Amoudi loses $260 million in two weeks
This follows a $320-million gain in Al-Amoudi’s net worth between March 28 and April 12.
Ethiopia’s richest man Mohammed Al-Amoudi’s Preem posts $12.6-billion revenue in 2023
Al-Amoudi derives a significant portion of his wealth from his stake in Preem, which surged from $3.74 billion on Jan. 1 to $3.88 billion recently.
Ethiopia’s richest man Mohammed Al-Amoudi gains $320 million in 15 days
The recent uptick in his fortune is mainly credited to the strong performance of his broad industrial investments in Sweden, Saudi Arabia, and Ethiopia.
Ethiopia’s richest man loses $100 million in just 6 days
Ethiopia’s richest man Mohammed Al-Amoudi’s net worth has declined by $100 million in just six days, the latest setback in a string of wealth declines.
Ethiopia’s richest man Mohammed Al-Amoudi loses $160 million in 3 weeks
Al-Amoudi’s fortune has dwindled from $9.29 billion on Feb. 25 to $9.13 billion.
U.S. firm Vaalco Energy in talks to acquire oil company of Ethiopia’s richest man
For Mohammed Al-Amoudi, this potential deal represents an opportunity to derive further value from his investments in the oil and gas industry.
Ethiopia’s richest man Mohammed Al-Amoudi gains $130 million in two weeks
The surge in his fortune propels Al-Amoudi to 259th place on the prestigious list of the world’s 500 wealthiest billionaires.
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Egyptian businessman Mohammed Elsewedy's stake in electric giant exceeds $770 million
Elsewedy, who serves as the company's vice president, holds a 17.76-percent stake —equivalent to 385.6 million ordinary shares.
Egyptian billionaire Yasseen Mansour’s Palm Hills to increase stake in Macor Hotels
Palm Hills, which already owns 60.3 percent of Macor Hotels, will raise its ownership to 69.8 percent by acquiring a 9.5-percent stake.
Vista Equity, led by America’s second-richest Black person, aims to finalize $5.6-billion acquisition of PowerSchool
The deal reflects the growing demand for cloud-based education software and reinforces Vista’s commitment to enhancing student-driven technological innovations with a strategic focus in the education sector.
NCBA, backed by Kenya’s richest families, partners with fintech firm to boost African remittances
The collaboration aims to make money transfers faster, safer, and more affordable.
Ghanaian businessman Kevin Okyere’s Springfield secures deepsea rig for Afina well appraisal in Ghana
Located in the West Cape Three Points Block 2 (WCTP-2), deep offshore Ghana, the Afina-1x well is pivotal to the company’s long-term oil production strategy.
U.S. tech billionaire David Steward overtakes Aliko Dangote as world's richest Black person
In just two years, Steward's wealth has nearly doubled, up from $6 billion in 2022 to $7.6 billion in 2023, before reaching its current level.
South African tycoon Terrence Moolman sees $9.2-million increase from Caxton shares
This gain brings his total holdings to nearly $130 million, reinforcing his position as a leading figure in South Africa's media industry.
Access Holdings, led by Nigerian banker Aigboje Aig-Imoukhuede, merges pension units to strengthen market position
This strategic consolidation is aimed at enhancing the company’s operational capabilities and fostering innovation in Nigeria's expanding pension sector.
Africa’s largest asset manager invests $494 million in Neal Froneman-led Sibanye
Sibanye receives a significant boost with a nearly $500-million investment from the South African government's wholly-owned asset management firm.
Kenyan tycoon Andrew Ndegwa’s stake in NCBA surges above $26 million
Ndegwa sees $3.82-million gain as NCBA Group shares surge 16.8 percent on the Nairobi Securities Exchange.
Kenyan diaspora bond aims to fund airport expansion amid billionaire Gautam Adani's controversial $1.85-billion bid
Indian billionaire Gautam Adani's $1.85-billion unsolicited bid has faced backlash from Kenyans.
5 businesses owned by Gambian construction mogul Amadou Samba
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Egyptian billionaire Naguib Sawiris warns of potential real estate bubble amid economic challenges
Egyptian billionaire and Ora Developers Chairperson Naguib Sawiris has expressed concerns over the potential of a real estate bubble in Egypt.
Discovery Health rises to the top: How Adrian Gore’s vision made it Africa's leading insurer
Discovery Health has consistently risen through the ranks, from fifth place in 2019 to becoming Africa's leading insurer in 2024.
South African billionaire Michiel Le Roux’s Capitec Bank reports $369.4-million half-year profit
This rise from R4.69 billion ($270.22 million) in the same period last year highlights Capitec Bank’s resilience in a tough global economy.
Kenyan tycoon John Kimani's stake rebounds above $22 million
John Kimani, has seen his shares in Kakuzi surpass $22 million (Ksh2.87 billion), marking a gain of Ksh383.4 million ($2.97 million) in just eight days.
