South African billionaire Koos Bekker gains $32.6 million from Naspers stake in 28 days
This upswing follows a period of steady gains for Bekker, with his Naspers holdings increasing by $36.75 million between April 17 and 25.
South African tycoon Gus Attridge rakes in $6.2 million from Aspen shares
This follows a $12 million gain recorded between April 23 and May 3, when his stake rose from R4.07 billion ($219.65 million) to R4.29 billion ($231.65 million).
Backed by Kenya’s richest families, NCBA posts $40.1-million profit in Q1 2024
John Gachora, the managing director of NCBA Group, attributed the lender’s strong financial results in the first quarter of 2024 to the growth and resilience of its diversified business model.
Led by South African Ackerman family, Pick ‘n Pay suffers $153-million impairment
Pick ‘n Pay’s discount chain, Boxer, was a bright spot, delivering robust sales growth of 16.1 percent despite a challenging economic environment.
South African billionaire Michiel Le Roux’s Capitec Bank hits 22 million active clients
Founded in 2001 by Michiel Le Roux, Jannie Mouton, and Riaan Stassen, Capitec offers transactional banking services along with a suite of loan products
Cameroonian banker Alain Nkontchou-led Ecobank reports $496 million in revenue in Q1 2024
Under Alain Nkontchou’s leadership, total comprehensive income surged significantly, rising from N7.06 billion ($15.54 million) to N448.72 billion ($123.76 million).
Lowe’s, led by Black executive Marvin Ellison, posts $21.4 billion in Q1 2024 sales
Despite the headline figures, Lowe’s reported positive growth in certain segments. The Pro division, catering to professional contractors, maintained steady sales.
South African exec Shameel Joosub-led Vodacom discusses infrastructure deals with Orange across Africa
Vodacom Group, led by telecoms veteran Shameel Joosub, boasts a network of over 200 million African subscribers.
South African tycoon Stephen Brookes’ Balwin sees revenue fall below $130 million
Brookes, a South African real estate mogul and founder of Balwin Properties in 1996, remains the company’s largest shareholder, holding a 36.08-percent stake.
South Africa’s richest man hands some duties to new Richemont CEO
With over 30 years of experience at Richemont, Nicolas Bos is well-versed in the company’s operations and brand portfolio.
Zimbabwean tycoon Zed Koudounaris’ Innscor opens $30 million Bakers Inn unit
The $30-million Bakers Inn unit boasts cutting-edge technology capable of producing roughly 160,000 loaves daily, marking a leap in domestic bread production capacity.
South African-born billionaire Patrick Soon-Shiong makes $1.8 billion in just 26 days
Soon-Shiong’s stake in ImmunityBio has grown by $1.37 billion, from $2.51 billion to $3.88 billion since late April.
South African billionaire Christo Wiese-linked Shoprite expands on-demand delivery service
Shoprite Holdings, Africa’s largest supermarket chain with over 3,543 stores, counts billionaire Christo Wiese as a major shareholder. His 11.63-percent stake is valued at nearly $1 billion.
South Africa’s richest man Johann Rupert’s Richemont sales hit $22.4 billion
Richemont’s impressive sales results ignited a surge in its share price, jumping 5.9 percent from CHF137.25 ($150.913) on May 16 to CHF145.35 ($159.815) at the time of writing.
Nigeria’s richest banker loses $5.7 million from Zenith Bank in just four days
Ovia maintains his position as Nigeria’s richest banker, highlighting his lasting success as a prominent business leader in the country.
U.S.-Nigerian tycoon Sam Darwish sees $9.6-million loss as IHS shares slide
This comes after a substantial gain of $7.4 million recorded between April 17 and May 1, when the market value of his stake skyrocketed from $43.41 million to $50.81 million.