South African Saltzman family transfers $47 million in Dis-Chem shares to executives
The recent sale aligns with a broader trend in the South African retail industry, where founding families reduce their control over companies.
Nigerian energy tycoon Austin Avuru’s Seplat seals $1.28-billion deal with ExxonMobil and NNPCL
The NNPCL announced on May 30, 2024, the formalization of an agreement that transfers ExxonMobil’s interests in Mobil Producing Nigeria Unlimited (MPNU) to Seplat.
Palantir led by African-American billionaire Alex Karp wins $480 million Pentagon AI contract
The Maven Smart System aligns with the Pentagon’s CJADC2 initiative, aimed at improving decision-making and operational efficiency within the U.S. military’s Central Command area.
South African tycoon Barry Swartzberg’s stake in Discovery slumps below $155 million
This recent slump compounds a previous loss of $7.91 million recorded between April 30 and May 16.
Absa Bank, linked to Kenyan tycoon Baloobhai Patel, posts $42 million profit in Q1 2024
Customer deposits also climbed 14.47 percent to Ksh359.46 billion ($2.74 billion), reflecting the bank’s customer-centric approach.
South African mogul Christo Wiese-linked Pepkor posts $2.4 billion half-year revenue
In 2014, South African billionaire Christo Wiese sold Pepkor to Steinhoff International in exchange for a 20 percent stake in Steinhoff.
Leading Black venture capitalist Henri Pierre-Jacques’ firm seeks $150 million for third fund
The new fund follows a successful $134 million raise in 2021, building on the firm’s impressive financial success in recent years.
Laurie Dippenaar’s FirstRand secures $250 million IFC green housing loan
The funding consists of a $200 million direct loan from IFC and up to $50 million mobilized through the managed co-lending portfolio program.
Bank with Kenya’s wealthiest backing launches trustee services to enhance investment options
This move allows NCBA to enter the trustee services market, providing clients with more investment options and reinforcing its commitment to comprehensive financial services.
Lagos-based Greek businessman gains $14.4 million from Flour Mills stake
The increase in the market value of John Coumantaros’ stake reaffirms his position as a leading investor on the Nigerian Exchange
South African businessman Jens Montanana leads Datatec to $5.5 billion revenue
Jens Montanana also acknowledged the challenges faced by Logicalis Latin America, specifically in Argentina and Brazil, which hampered its financial performance.
Cameroonian-American NBA superstar Joel Embiid earns $57.7 million in past year
The 29-year-old’s significant earnings stem from a lucrative NBA contract. He secured his future with the Philadelphia 76ers with a five-year, $178 million deal (including incentives)
Botswana-based mogul Jonathan Gibson’s Chobe declares $5.29-million dividend
The board recommended a final dividend of BWP71.88 million ($5.29 million), translating to BWP0.8 ($0.059) per share, according to a recent update.
Moroccan tech tycoon Karim Benjelloun’s Disway to distribute $6.6 million in dividends
The decision follows a recommendation from the board of directors in a recently published financial update on the Casablanca bourse.
Nigerian energy tycoon Austin Avuru’s Seplat extends $1.28-billion ExxonMobil acquisition deal
Investor confidence remains shaky due to ongoing legal and regulatory issues.
South African executive Fani Titi leads Investec to record $2.65-billion revenue
Under Fani Titi’s leadership since March 2020, Investec has demonstrated resilience and growth despite challenging market conditions.