Capitec, founded by billionaire Michiel le Roux, lists on a second South African exchange next week
Capitec takes a secondary listing on A2X from Sept. 7, in the same week JPMorgan began trading on the alternative South African exchange.
Dorcas Adeodun
News Reporter
Dorcas Adeodun is a journalist covering finance, public policy, and economic development. She has more than five years of reporting experience and has worked across business reporting and institutional analysis.
Dangote Cement, Nestlé Nigeria and First HoldCo are joining the FTSE frontier index
FTSE Russell named 10 Nigerian stocks newly eligible for its frontier index series, including Dangote Cement, First HoldCo and MTN Nigeria.
Elon Musk tells G20 leaders AI will add $20 to $30 trillion a year to the global economy by the end of 2027
Elon Musk told G20 leaders meeting in North Carolina that artificial intelligence will add between $20 trillion and $30 trillion to the global economy every year, while Wall Street skeptics warn nobody has yet proven the returns justify the spending.
Lee Su-jin cleaned love hotel rooms at 23 and is worth $1.6 billion at 48
Lee Su-jin scrubbed motel rooms at 23. Today his travel platform Yanolja is worth $6.7 billion and he is worth $1.6 billion.
Eduardo Saverin was pushed out of Facebook and is now worth $32.4 billion
Bloomberg puts Eduardo Saverin at $32.4 billion, making him Brazil's wealthiest person and Singapore's richest resident, on a 2% stake in Meta.
Why billionaire-controlled BUA, UBA, and Seplat missed FTSE’s Nigeria re-entry
FTSE Russell restored Nigeria to its Frontier Market Index, but billionaire-led giants like BUA, UBA, and Seplat were left off the list.
French billionaire family is buying a $135 million Mayfair building with African oil money
The Perrodo family's BNF Capital has agreed terms to buy 27 Savile Row for about £100 million, moving money out of African oil into Mayfair property.
Bill Gates has 60% of his $33 billion foundation portfolio in three stocks and none of them are tech companies
Bill Gates, worth more than $100 billion despite decades of donations, has concentrated 60% of his Gates Foundation's $33 billion investment portfolio in three slow-growing value stocks, none of which are technology companies.
David Tepper cut Micron by 41%, dumped Sandisk entirely and is now betting against Apple with $242 million in put options
David Tepper's Appaloosa Management cut its Micron stake by 41%, sold its entire Sandisk position and placed a $242 million bet against Apple in the second quarter, raising questions about whether the memory chip supercycle is approaching its peak.
Michiel Le Roux's Capitec blocked $43 million in fraud losses using AI that scores every payment in real time
Capitec has revealed that its AI-powered payment screening system blocked $43 million in potential fraud losses for more than 113,000 clients in the year to June 2026, while flagging more than 394,000 potentially fraudulent payments.
Billionaire Mark Cuban bought a $25 million Dallas mansion sight unseen and paid half price
Mark Cuban paid half price for a $25 million Dallas mansion he had never set foot in, buying it sight unseen during a foreclosure and calling it the best guaranteed return on investment available anywhere.
Monaco's Mareterra district made $3 billion profit in six months with Kazakh billionaire Bulat Utemuratov among investors
Monaco's Mareterra luxury district, built on reclaimed Mediterranean land at a cost of $2.3 billion over 11 years, generated $3 billion in net profit within six months of completion, with Kazakh billionaire Bulat Utemuratov among the investors who shared in the returns.
Nigerian tycoon John Alamu is 34 and already runs the country's largest cocoa processor
John Alamu started with ₦100,000 lending to market women in 2014. At 34 he runs Nigeria's largest cocoa processor and a bank in two countries.
Nigerian tycoon Ernest Azudialu-Obiejesi invests $28 million in drilling rigs
Nestoil invests $28m in rigs to lift OML 42 production
Egyptian shipping tycoon Ahmed Tarek Khalil sells his entire Ajwa stake for $6 million
Ahmed Tarek Khalil sold 8.34% of Ajwa for Food Industries Egypt for EGP 301.65 million, about $6 million, exiting the edible oils maker entirely.
Singapore's wealthy Aswani family is still buying Guinness Nigeria shares after a $343 million gain
N-Seven Nigeria, a Tolaram subsidiary, bought 550,092 more Guinness Nigeria shares on Aug. 28, lifting the Aswani family holding above 70.86%.