South African mogul Neal Froneman’s Sibanye-Stillwater’s PGM mine in US suspended for 4-6 weeks
Regional floods led to the decision to pause operations.
Top 7 African billionaires of Instagram
They’re definitely worth following. Well, some of them at least.
South African entrepreneur Mike Heyink’s Yellow raises $23-million debt funding
Yellow was founded in 2018 to deliver life-changing tech products to low-income households in Africa.
Ugandan magnate Charles Mbire gains $4.7 million from stake in MTN Uganda
Mbire owns 3.98 percent of the telecom company.
African-American billionaire Shawn ‘Jay-Z’ Carter gains over $300 million since LVMH deal in 2021
Jay Z’s assets include Roc Nation, stakes in Armand de Brignac and D’Usse cognac, and a fine art collection.
South African billionaire Christo Wiese’s Brait SE moves to list food business, Premier
The listing will take place as soon as more favorable stock market conditions permit.
South African property tycoon Sisa Ngebulana to build new housing development in sleepy coastal town
Ngebulana’s Billion Group plans to build a mixed-use affordable housing complex in the East Coast Crossways area in Kwelerha.
Tayo Amusan’s Ketron Investment receives $8.4 million from Nigeria’s Bank of Industry
Ketron is a wholly-owned subsidiary of Persianas Limited.
Moroccan tycoon Adil Douiri loses $2.6 million in 19 weeks as shares in Mutandis slump
Douri owns a 6.88-percent stake in the Moroccan consumer goods firm.
Kenyan tycoon Tabitha Karanja says Keroche’s revenue has fallen below $1 million due to shutdown
Karanja complained that it is unbearable to witness the loss of over 400 jobs.
Karim Awad-led EFG Hermes acquires Egyptian B2B marketplace Fatura
The acquisition comes after the Egyptian startup closed a $3-million pre-Series-A funding round last year.
Nigerian businessman Tony Elumelu says Africa’s development depends on private sector
Elumelu is the chairman of Heirs Holding.
Egyptian tycoon Ahmed Ezz loses $49.6 million from stake in Ezz Steel
Ezz, who founded Ezz Steel in 1994, owns 60.7 percent of the company.
Ugandan magnate Patrick Bitature loses court bid to block auctioning of prime real estate assets
The ruling implies that the auction of Bitature’s real estate empire can continue.
Kenyan tycoon Tabitha Karanja’s Keroche Breweries shut down for sixth time
Karanja founded the Kenyan brewer in 1997.
Egyptian billionaire Nassef Sawiris loses $840 million in 12 days as shares of OCI, Adidas fall
Sawiris’ stakes in Adidas and OCI N.V. are now worth $2.11 billion and $2.26 billion, respectively.