South African mogul Neal Froneman’s Sibanye-Stillwater approves new fund to drive R&D
Froneman owns a 0.074-percent stake in the company worth more than $10 million.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $79.7 million in profit in Q1 2022
The result suggests that it is on track to deliver yet another record performance at the end of Q2 2022.
Africa’s richest man, Aliko Dangote, gains $500 million in 14 days, as cement company shares skyrocket
His year-to-date wealth gains are now $1.33 billion.
South African tech billionaire Mark Shuttleworth plans to list Canonical in 2023
Shuttleworth plans to list Ubuntu software maker Canonical in 2023.
British bank Barclays sells $687-million stake in Arrie Rautenbach-led Absa Group
Absa Group shares have fallen by more than four percent since the opening of the Johannesburg Stock Exchange this morning.
Kenyan banker Gideon Muriuki buys $100,000 shares in CIC Insurance
Muriuki now controls 137.8 million shares in the company.
Billionaire Yasseen Mansour’s Palm Hills Developments budgets $243 million for 2022
Palm Hills Developments has set aside $243 million for development work in 2022.
Nassef Sawiris’ stake in OCI N.V. is now valued at more than $3 billion
Meanwhile, his stake in German sportswear behemoth Adidas is valued at $2.59 billion.
South African billionaire Patrice Motsepe donates $2 million to flood victims
Motsepe, a billionaire businessman, offered his assistance after witnessing the devastation caused by recent floods.
Egyptian investor Tarek Assaad’s VC firm, Algebra Ventures, secures $15 million in funding from World Bank
Assaad is also the managing partner of Ideavelopers, where he has managed $50 million in investments since 2009.
Egyptian businessman Hassan Allam’s construction firm to develop solar power plant in Egypt
With over 80 years of experience, Hassan Allam Holding is one of the largest privately held corporations in Egypt.
Mr. Price to acquire Laurence Wernars’ Studio 88 Group for $225 million
Studio 88 group is the biggest independent retailer of branded leisure, lifestyle, and sporting apparel and footwear in South Africa.
South African executive Gerrie Fourie receives salary of $6.3 million from Capitec Bank in 2022
Fourie, the current CEO of Capitec Bank, has received millions of dollars in compensation from the bank since joining the leading financial services provider in 2014.
Nigerian billionaire Abdul Samad Rabiu to pocket $208 million in dividends
BUA Cement operates with a combined installed capacity of 8 million tonnes per annum.
Zimbabwean restaurant mogul Zed Koudounaris eyes Kenyan expansion for Simbisa brands
His 18.41-percent stake in the company is worth $60.4 million.
Angolan tycoon Carlos Manuel de Sao Vicente sentenced to nine years over graft
He has been sentenced to nine years in jail by a local court for embezzlement.