South Africa’s Giovanni Ravazzotti takes $33.6 million loss on Italtile investment
The downturn reflects mounting investor caution regarding the company’s near-term growth prospects amid a challenging economic climate in South Africa.
Mauritian-based firm takes $19 million stake in Suresh Bhagwanji Shah’s I&M Group
Mauritius-based EAGH boosts its I&M Group stake to 15.14% with a $19 million investment, signaling rising confidence in East Africa's banking sector.
James Mwangi-led Equity Group fires 200 Kenyan staff over $11.6 million scandal
The bank, East Africa’s largest by assets, revealed that the affected employees spanned senior managers and junior staff across its branch network and head office.
Mauritian businessman Arnaud Lagesse’s IBL Group posts $87 million profit
The results reflect the continued strength of its international operations, which helped cushion the impact of rising costs in its home market.
Moroccan businesswoman Lamia Tazi's stake in Sothema nears $90 million
This boost comes on the heels of a strong rally in Sothema’s share price on the Casablanca Bourse.
Shameel Joosub-led Vodacom bets big on contracts beyond mobile
The company’s results for the year ending March 31, 2025, underscore a business in transformation, yet also raise questions about financial transparency and consumer risk.
Patrice Motsepe's Tyme Bank, Sanlam to launch retail credit venture
TymeBank and Sanlam are launching a 50-50 joint venture to expand digital credit access to underserved South Africans through unsecured loans and insurance.
Rupert joins Dangote, Ogunlesi among African billionaires visiting Washington
Johann Rupert, South Africa’s richest man and Richemont chairman, arrived in Washington during tense talks between Trump and President Ramaphosa.
South African pharma tycoon Gus Attridge loses $7 million from Aspen stake
Shares of Aspen Pharmacare plunged 5.44 percent in a week, wiping millions off co-founder Gus Attridge’s stake.
Khamis family's Oriental Weavers starts 2025 with $11 million profit
Oriental Weavers posted $128 million in Q1 revenue, up 27%, but net profit dipped 1.2% to $11 million as currency woes and input costs pressured margins.
Southern Sun, led by John Copelyn, reports $57 million profit in 2025
The performance was underpinned by higher room occupancy, improved Ebitdar margins, and disciplined cost and capital management.
Black executive Marvin Ellison gains $9 million from stock rally
This latest gain builds on a previous $9.2 million increase recorded between April 21 and May 8, during which the value of his holdings rose from $159.15 million to $168.35 million.
Kanye West’s South Korea show canceled after $20 million contract loss in Japan
This follows Japan’s $20 million Tokyo Dome show drop after controversial onstage behavior offended local cultural values.
Algeria’s richest Issad Rebrab’s Cevital taps European partner for Béjaïa project
The wastewater treatment plant is a practical step that helps the company stay productive, meet regulatory requirements, and reduce its environmental impact.
Sasol CEO, Simon Baloyi signals chemical unit listing before 2030
The division, anchored by a $12.8 billion Lake Charles Chemicals Project in Louisiana, is expected to contribute up to $1 billion annually to Sasol’s earnings by 2030.
Ghabbour family’s GB Corp delivers $334 million in Q1 revenue
GB Corp. posted $334.4 million in Q1 revenue, driven by strong auto sales, CKD output, and expanding finance services amid Egypt’s improving economic environment.