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Kenyan court halts India’s second-richest man Gautam Adani’s airport lease deal
The Law Society of Kenya (LSK) and the Kenya Human Rights Commission (KHRC) filed a joint application urging the court to block the agreement.
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Giovanni Ravazzotti loses $18 million in two weeks from Italtile stake
South African tycoon Giovanni Ravazzotti sees $13.8-million decline in Italtile stake amid share price slide.
Real estate investment could elevate Anas Sefrioui back to Moroccan billionaire ranks
Moroccan businessman Anas Sefrioui sees $143-million gain on ADH stake
Sanlam, backed by Patrice Motsepe, targets India's wealth management sector
The move is part of a broader strategy to capitalize on growth opportunities in one of the world’s fastest-growing major economies.
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Africa’s first Black billionaire Patrice Motsepe to receive $45.2-million dividend from ARM
The dividend payout reflects a 25-percent decrease from the R1.08-billion ($60.3 million) dividend he received the previous year.
Real estate investment could elevate Anas Sefrioui back to Moroccan billionaire ranks
Moroccan businessman Anas Sefrioui sees $143-million gain on ADH stake
Naguib Sawiris lists Almaza Bay estate for $12.5 million
Egypt’s second-richest man Naguib Sawiris to sell coastal property amid investment expansion.
Egyptian mogul Abdallah Sallam's Madinet Masr unveils new luxury project in Mostakbal City
Madinet Masr, led by Abdallah Sallam, launches luxury project in Mostakbal City.
Egyptian tycoon Hani Berzi’s Edita Foods stake declines by $9.3 million
Hani Berzi’s fortune dips by over $9 million as Edita Foods shares slide.
Real estate investment could elevate Anas Sefrioui back to Moroccan billionaire ranks
Moroccan businessman Anas Sefrioui sees $143-million gain on ADH stake
Naguib Sawiris lists Almaza Bay estate for $12.5 million
Egypt’s second-richest man Naguib Sawiris to sell coastal property amid investment expansion.
Khamis family faces nearly $10-million loss from Oriental Weavers stake
The Khamis family's shares in Oriental Weavers have dropped nearly $10 million due to recent selling pressures on the EGX.
Sue Nabi’s stake in U.S. beauty giant falls below $300 million
Algerian-born executive Sue Nabi's net worth takes a hit as her stake in the beauty giant plummets below $300 million.
Azza Elsewedy becomes top female investor on EGX with $80-million stake in Elsewedy Electric
Elsewedy claims the top spot on the Egyptian Exchange with stake in multinational cable and electrical equipment manufacturer, Elsewedy Electric.
Yasseen Mansour’s Palm Hills reports $225-million revenue in H1 2024
Palm Hills Developments reports robust H1 2024 performance, surpasses revenue expectations.
Nigerian banker Ladi Balogun-led FCMB Group completes initial phase of capital raise
This move is aimed at strengthening the bank's financial foundation and supporting its expansion within Africa's financial markets.
Nigerian insurance tycoon Wole Oshin’s Custodian projects $18-million profit for Q4 2024
Custodian Investment expects a 119.74-percent profit increase in Q4 2024, with after-tax profit projected to reach N30.98 billion ($18 million).
Nigerian billionaire Femi Otedola’s FBN Holdings to divest merchant banking unit
FBN Holdings, led by Femi Otedola, is selling its 100-percent stake in FBNQuest Merchant Bank to streamline operations and focus on core banking.
Battle for Africa’s richest: Johann Rupert’s wealth drops by $900 million, Dangote set to overtake
According to Bloomberg, Johann Rupert edges Aliko Dangote by $100 million, with a net worth of $13.4 billion vs. Dangote's $13.3 billion.
Ladi Jadesimi's Aradel becomes Nigeria’s latest billion-dollar energy group with $1.2-billion market cap
Aradel Holdings has surged past the $1 billion valuation mark, with its market capitalization exceeding $1.2 billion
Nigeria's Adebayo Ogunlesi joins Forbes billionaires list with $1.7-billion fortune
Adebayo Ogunlesi joins Africa’s billionaire ranks, propelled by a $12.5-billion BlackRock deal.
Nigerian tycoon Dozy Mmobuosi faces $250-million fine and U.S. corporate ban
A U.S. federal court has ordered Mmobuosi to pay over $250 million in fines and barred him from serving as a director of any public company.
Nigeria’s richest man Aliko Dangote set to roll out petrol from landmark refinery
The $20 billion refinery recently completed a critical test run of its 650,000 barrels-per-day capacity, a significant step towards the official market rollout.
Kenyan court halts India’s second-richest man Gautam Adani’s airport lease deal
The Law Society of Kenya (LSK) and the Kenya Human Rights Commission (KHRC) filed a joint application urging the court to block the agreement.
NCBA, backed by Kenya’s richest families, invests $5 million in cybersecurity
NCBA Bank invests Ksh644 million ($5 million) in cybersecurity, enhancing firewalls amid rising cyber threats in Kenya.
Antoine Delaporte’s Adenia sells African payment firm to SPE Capital
Adenia Partners has sold its entire stake in OMOA Group to SPE Capital, marking the completion of its €96-million ($106 million) Adenia Capital III fund.
Daniel Yu's Wasoko merges with MaxAB to form Africa’s largest informal retail platform
This all-stock deal creates the continent’s largest digital platform for the informal retail market, marking a turning point in the sector's consolidation and cross-border expansion.
Edward Kirathe’s Acorn secures plot for first hostel outside Nairobi
Acorn Holdings, led by Kenyan real estate magnate Edward Kirathe, expands student housing with new land acquisition in Eldoret.
Equity Group, led by star Kenyan banker James Mwangi, to raise salaries for female employees
Equity Group, led by Kenyan banker James Mwangi to increase salaries for female employees to narrow the gender pay gap and promote pay equity.
Gautam Adani launches airport unit in Kenya
The Kenya entry supports India's second-richest man, Gautam Adani's goal of modernizing airport infrastructure in the region.
South African tycoon Christopher Seabrooke's Sabvest Capital stake drops by $4.44 million
Christopher Seabrooke’s stake in Sabvest Capital dips below $70 million as shares slide.
Africa’s first Black billionaire Patrice Motsepe to receive $45.2-million dividend from ARM
The dividend payout reflects a 25-percent decrease from the R1.08-billion ($60.3 million) dividend he received the previous year.
Giovanni Ravazzotti loses $18 million in two weeks from Italtile stake
South African tycoon Giovanni Ravazzotti sees $13.8-million decline in Italtile stake amid share price slide.
Anthony Leeming-led Sun International posts $52-million profit in H1 2024
Sun International, led by South African executive Anthony Leeming, reports surge in profit, driven by discontinued operations and revenue growth.
Standard Bank, led by Group CEO Sim Tshabalala, unveils innovative digital platform for loan management
New digital platform transforms syndicated loan management with automation and real-time data access, enhancing efficiency and reducing errors.
Sanlam, backed by Patrice Motsepe, targets India's wealth management sector
The move is part of a broader strategy to capitalize on growth opportunities in one of the world’s fastest-growing major economies.
Terrence Moolman's Caxton delivers $37.1-million profit in 2024
Profit fell from R751.88 million ($42.39 million) in 2023 to R657.36 million ($37.07 million), driven by rising costs, and subdued consumer spending.
Patrice Motsepe’s African Rainbow Minerals reports lowest profit in seven years
ARM, led by Africa’s first Black billionaire Patrice Motsepe, reports its lowest profit in seven years due to rising costs and a tough operating environment.
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.
Latest Posts
Kenyan court halts India’s second-richest man Gautam Adani’s airport lease deal
The Law Society of Kenya (LSK) and the Kenya Human Rights Commission (KHRC) filed a joint application urging the court to block the agreement.
Nigerian banker Ladi Balogun-led FCMB Group completes initial phase of capital raise
This move is aimed at strengthening the bank's financial foundation and supporting its expansion within Africa's financial markets.
South African tycoon Christopher Seabrooke's Sabvest Capital stake drops by $4.44 million
Christopher Seabrooke’s stake in Sabvest Capital dips below $70 million as shares slide.
Nigerian insurance tycoon Wole Oshin’s Custodian projects $18-million profit for Q4 2024
Custodian Investment expects a 119.74-percent profit increase in Q4 2024, with after-tax profit projected to reach N30.98 billion ($18 million).
Egyptian mogul Abdallah Sallam's Madinet Masr unveils new luxury project in Mostakbal City
Madinet Masr, led by Abdallah Sallam, launches luxury project in Mostakbal City.
NCBA, backed by Kenya’s richest families, invests $5 million in cybersecurity
NCBA Bank invests Ksh644 million ($5 million) in cybersecurity, enhancing firewalls amid rising cyber threats in Kenya.
Egyptian tycoon Hani Berzi’s Edita Foods stake declines by $9.3 million
Hani Berzi’s fortune dips by over $9 million as Edita Foods shares slide.
Black billionaire Alex Karp's Palantir expands AI partnership with BP for oil and gas operations
This builds on a decade-long success of incorporating Palantir software into BP’s oil and gas production systems.
Africa’s first Black billionaire Patrice Motsepe to receive $45.2-million dividend from ARM
The dividend payout reflects a 25-percent decrease from the R1.08-billion ($60.3 million) dividend he received the previous year.
Antoine Delaporte’s Adenia sells African payment firm to SPE Capital
Adenia Partners has sold its entire stake in OMOA Group to SPE Capital, marking the completion of its €96-million ($106 million) Adenia Capital III fund.
Giovanni Ravazzotti loses $18 million in two weeks from Italtile stake
South African tycoon Giovanni Ravazzotti sees $13.8-million decline in Italtile stake amid share price slide.
Real estate investment could elevate Anas Sefrioui back to Moroccan billionaire ranks
Moroccan businessman Anas Sefrioui sees $143-million gain on ADH stake
Anthony Leeming-led Sun International posts $52-million profit in H1 2024
Sun International, led by South African executive Anthony Leeming, reports surge in profit, driven by discontinued operations and revenue growth.
Standard Bank, led by Group CEO Sim Tshabalala, unveils innovative digital platform for loan management
New digital platform transforms syndicated loan management with automation and real-time data access, enhancing efficiency and reducing errors.
Sanlam, backed by Patrice Motsepe, targets India's wealth management sector
The move is part of a broader strategy to capitalize on growth opportunities in one of the world’s fastest-growing major economies.
Daniel Yu's Wasoko merges with MaxAB to form Africa’s largest informal retail platform
This all-stock deal creates the continent’s largest digital platform for the informal retail market, marking a turning point in the sector's consolidation and cross-border expansion.
