Billionaire Michiel le Roux's Capitec targets South Africa's R50 billion stokvel market
Capitec has launched a stokvel account aimed at the 11 million South Africans who save about R50 billion a year through 800,000 community savings groups.
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.
Billionaire David Ellison now owns HBO, CNN, Paramount and CBS after $111 billion deal closes
Billionaire David Ellison has completed Paramount's $81 billion takeover of Warner Bros. Discovery, nearly $111 billion with debt, creating a media group called Skydance that owns HBO, CNN, CBS and Paramount+.
Kenya clears billionaire Aliko Dangote's refinery IPO for Nairobi investors through depositary receipts
Kenya's Capital Markets Authority has approved a depositary receipt route for Kenyan investors to buy into billionaire Aliko Dangote's $1.6 billion refinery IPO, the first such deal under its GDR rules.
VistaJet wins luxury service awards
Thomas Flohr's VistaJet won a Luxury Report commendation and a Shanghai brand award, as his Vista Global weighs a stock market listing.
Billionaire Oprah Winfrey-backed restaurant chain files for bankruptcy
True Food Kitchen, the healthy restaurant chain backed by Oprah Winfrey, has filed for Chapter 11 with $42 million in debt and closed 12 restaurants.
A $300,000 Ferrari sold for $2.7 million because Michael Jordan once owned it
Michael Jordan's 1997 Ferrari 550 Maranello, which he drove from the United Center after his fifth NBA title, sold for $2.7 million at Pharrell Williams' Joopiter auction.
Africa's richest man cuts off petrol supply to importers it accuses of blending its fuel
Aliko Dangote's refinery has stopped selling petrol to Nigerian marketers who import fuel, accusing them of blending its product with lower grades
British Billionaire Mike Ashley buys 8.8% of Under Armour, a stock that has lost 90% since 2016
Billionaire Mike Ashley's Frasers Group has taken an 8.78% stake in Under Armour, worth about $77 million, adding to its Puma, Burberry and Harvey Nichols buys.
Kenya's wealthy Ndegwa banking family pays $66 million to regain full control of insurer
The Ndegwa family will pay Sh8.5 billion to buy back the ICEA Lion stake it sold to LeapFrog and Prudential for Sh2.4 billion.
South African billionaire Nicky Oppenheimer's $15 billion empire after De Beers
Nicky and Jonathan Oppenheimer have turned the family's De Beers payout into stakes in Nigerian cans, cancer clinics, Moroccan furniture and a private airport terminal.
Late Moroccan billionaire Miloud Chaabi's heirs remain divided 10 years on
Ten years after Miloud Chaabi died, his heirs are still at odds over Ynna Holding, while the conglomerate's subsidiaries are run by independent managers.
Egyptian billionaire Naguib Sawiris bids for five more gold blocks in Egypt
Billionaire Naguib Sawiris has bid for five more gold exploration blocks in Egypt's Eastern Desert as his Wa'al project defines an inferred 1 million ounces ahead of an October scoping study.
Elon Musk to rebrand SpaceXAI as SpaceXSI after Trump orders government to stop saying 'AI'
Elon Musk says SpaceXAI will become SpaceXSI, dropping "AI" from its name after Trump ordered federal agencies to say "Super Intelligence" instead.
Billionaire Larry Ellison lost almost $200 billion in a year.
Larry Ellison's fortune has fallen almost $200 billion in a year, and bond investors now price Oracle and Paramount, both deep in debt, as a single Ellison bet.
Uganda's richest family, the Ruparelias, sue for $225 million over seized bank
Uganda's Ruparelia family goes to trial in London on Monday, seeking at least $225 million over the 2017 sale of their seized Crane Bank.
Moroccan King Mohammed VI's bank to take control of Société Générale Ghana
Attijariwafa Bank, in which King Mohammed VI's family holds the largest stake through Al Mada, will buy 55.22% of Société Générale Ghana.