South African exec Neal Froneman views Sibanye-Stillwater’s rights offer as a last resort
Speaking at the group’s annual results presentation, Froneman stressed that such an offer would be a last resort measure.
Zimbabwean billionaire Strive Masiyiwa’s Liquid C2 seals new deal to enhance cybersecurity and AI in Africa
Masiyiwa emphasized the significance of responsible AI in fostering economic opportunities and empowering individuals and businesses across Africa.
Burkinabe tycoon Idrissa Nassa’s Coris Bank secures $5-million facility from IFC
Under the leadership of Nassa, Coris Bank International expanded its footprint by launching Coris Bank International Guinea in 2021.
South African executive Simon Crutchley guides AVI to $65 million half-year earnings
Simon Crutchley, who has served as CEO of AVI Limited since 2005, has played a pivotal role in steering the company towards sustained growth and success.
French billionaire’s firm boosts bid for DStv owner, pushing valuation above $2.9 billion
Following the announcement of the increased offer, MultiChoice shares surged by 52 percent since the original bid on Feb. 1, with an additional 4.1-percent increase on Tuesday.
South African billionaire Koos Bekker loses $34.4 million from Naspers stake
Bekker, a top figure in South Africa’s business landscape, is credited with transforming Naspers from a newspaper publisher into a top player in e-commerce and cable TV.
Nigerian gas tycoon Julius Rone advocates for foreign investment to drive African energy
A central figure in Nigeria’s energy sector, Rone outlined his vision for leveraging international partnerships to tap into the vast untapped natural gas reserves across the continent.
Ronald Karauri’s SportPesa unveils innovative rewards for Kenyan athletes
This initiative represents a significant stride toward contributing to Kenya’s comprehensive growth and prosperity.
Karl Toriola-led MTN Nigeria faces economic hurdles, reports over $80-million loss
Toriola attributes losses to currency devaluation, inflation, and higher operating expenses.
Kenyan executive Edwin Kinyua-led Portland Cement posts $4.9-million half-year loss
The reduction in Portland’s net loss in the current reporting period is attributed to increased revenue from cement sales, coupled with higher tax credits and reduced expenses.
Cameroonian tycoon Paul Fokam’s bank bolsters local economy with $2.7 billion in 2023
The bank further solidified its position as a national market leader with a 19.2-percent market share in deposit collection and a 21.5-percent market share in credit at the close of 2022.
South African billionaire Michiel Le Roux loses $85 million from Capitec stake
Le Roux owns an 11.39-percent stake in Capitec Bank, making him one of the richest men on the continent.
Nigerian entrepreneur Affiong Williams’ firm launches $2.5-million dried-fruit processing plant
This initiative aligns seamlessly with Williams’ mission to empower underserved communities and reduce post-harvest losses, particularly in the realm of fruit production.
Egyptian tycoon Ashraf Sabry’s Fawry and LA Market join forces to boost local businesses
Fawry, with esteemed shareholders including the National Bank of Egypt and Banque Misr, has positioned itself as a key player in Africa’s fintech landscape.
Patrice Motsepe’s stake in ARM declines by $137 million
Motsepe, Africa’s first Black billionaire and a prominent South African tycoon, holds a 45.9-percent stake in ARM, or 89,905,401 shares.
South African billionaire Christo Wiese loses $30 million from Shoprite stake
Wiese holds a 10.67-percent stake in Shoprite, equivalent to 63,110,920 shares valued at over $850 million.