South African tycoon Laurie Dippenaar’s FirstRand stake slumps below $340 million
FirstRand’s shares decline by 3.69 percent, market cap dips below the $20-billion mark.
America’s second-richest Black billionaire David Steward gains $300 million in 20 days
Steward’s recent wealth surge underscores his prominence within the technology sector, his investment positions him favorably for continued prosperity in the foreseeable future.
South African tycoon Gerrie Fourie gains $8.6 million in 65 days
Fourie’s stake in Capitec Bank has risen by R2.16 billion ($8.63 million) over the past 65 days, solidifying his position among South Africa’s top executives.
Nigerian-born British boxer Anthony Joshua secures $50 million in recent Riyadh bout
Beyond the financial rewards of his $50 million purse, Joshua’s victory represents a significant personal and professional triumph.
Tony Elumelu’s Heirs Energies expands gas supply operations to boost power generation in Nigeria
The recent success of Heirs Energies is linked to strategic acquisitions.
Led by South African Ackerman family, Pick ‘n Pay set to liquidate Baladakis Stores
As the legal battle unfolds, the retail industry watches closely to see the implications and outcomes of Pick ‘n Pay’s unprecedented move to liquidate a major franchisee in its extensive network.
Nigerian entrepreneur Oluwasoga Oni leads startup to secure $3 million from investors
The pre-Series-A funding round brings MDaaS Global’s total funding since its inception to $6.8 million.
Led by Egyptian exec Mohamed Adel, Roya sets sights on $1.2 billion in project sales
The Big Business District is poised to transform Cairo’s commercial landscape, offering a dynamic business hub characterized by modern design and functionality.
Nigerian serial entrepreneur Akintoye Akindele arraigned on $5.6-million fraud charges
Akindele, known for his roles as an entrepreneur, and venture capitalist pleaded not guilty to the charges during the arraignment.
South African tycoon Neal Froneman-led Sibanye posts $2-billion loss
The poor financial performance comes on the heels of Sibanye’s aggressive acquisition strategy.
South African-born billionaire Patrick Soon-Shiong gains $800 million in 29 days
The recent surge in Soon-Shiong’s fortune is largely fueled by the notable increase in the market value of his 76-percent stake in ImmunityBio.
South African executive Pieter Engelbrecht leads Shoprite to $6.3 billion in half-year sales
Since taking the helm in January 2017, Engelbrecht has continued to enhance the legacy established by his predecessor, Whitey Basson.
Kenyan tycoon Jimnah Mbaru faces lawsuit over alleged neglect of parental duties
The conflict arises from a lawsuit filed by 25-year-old Elizabeth Nadupoi Kimiti, accusing Mbaru of neglecting his parental duties.
Algerian-born French tycoon Sue Nabi led-Coty completes first phase of share buyback program
This strategic move, driven by Coty’s robust balance sheet and strong cash flows, reaffirms the company’s commitment to enhancing shareholder value over time.
South Africa’s Ackerman family loses nearly $50 million as Pick ‘n Pay shares plunge 26%
The recent decline in Pick ‘n Pay shares has led to a reduction in the market value of the Ackerman family’s stake by R906.4 million ($47.43 million) over the last 15 days
Egyptian billionaire Yasseen Mansour’s Palm Hills posts $51.1-million profit in 2023
Mansour highlighted the company’s record-breaking new sales of EGP59.5 billion ($1.92 billion), indicating a growth of 129 percent year-on-year.