Egyptian real estate tycoon Abdallah Sallam's Madinet Masr profit hit $58.3 million in 2024
The performance was driven by sustained market demand, strategic expansions, and a solid uptick in net operating revenues.
Oyindamola Adeyemi: Nigerian businesswoman involved in the engineering of Dangote’s $23 billion refinery
She leads Still Earth Holdings, a Nigerian conglomerate with interests in construction, energy, finance, and hospitality, expanding across West Africa.
Seplat, co-founded by Nigerian tycoon Austin Avuru, buys back $567.46 million in notes to cut debt
The transaction, which covers 87.3 percent of the outstanding amount, is part of a broader plan to streamline its capital structure and ease debt obligations.
Co-op Bank shatters records with $197.1 million profit under Gideon Muriuki
Co-op Bank posts a record $197.1 million profit for 2024, driven by strong revenue growth, efficiency gains, and a 12.5% rise in total operating income.
How Africa’s billionaires lost billions: 5 costly investment blunders
Even billionaires make costly mistakes—overleveraging, overexposure, disruption, misjudgment, and poor due diligence can erase fortunes in months.
Standard Bank, led by Sim Tshabalala, makes $165 million bet on platinum group metals
The 5.74 percent stake in Northam Holdings boosts the bank’s mining investments in South Africa.
South African billionaire Ivan Glasenberg takes $684 million hit on Glencore stake
This decline follows a steeper loss earlier this year, when his stake dropped by $817.53 million between Jan. 24 and Feb. 23.
Swedfund pours $16.3 million into African SMEs
This initiative focuses on supporting businesses across multiple sectors, ensuring they have the resources to grow sustainably.
Nigerian billionaire Femi Otedola’s FirstHoldCo raises $125 million in oversubscribed rights issue
Otedola, one of Africa’s billionaires since 2009, played a key role in guiding the group toward this milestone, reinforcing his influence in Nigeria’s financial sector.
Trustco’s debt to Namibia’s Van Rooyen family rises to $280 million
Trustco Group’s debt to Next Capital hit $280 million, boosting the Van Rooyen family’s financial control.
JPMorgan cuts Sibanye-Stillwater stake from over $215 million to $157 million
This move signals a reassessment of its exposure to the $3-billion mining group amid evolving economic dynamics in South Africa.
South African-born Billionaire Patrick Soon-Shiong loses $1.2 billion in a month
The decline has wiped out nearly all the gains he made in the first seven weeks of 2025.
Will.i.am backs large concept models in new tech investment
His latest initiative centers on identifying and supporting young tech talent who can build these next-generation models.
Wale Tinubu’s Oando strikes deal for Nigeria’s biggest solar project after Caribbean win
The project, expected to play a key role in Nigeria’s shift toward sustainable energy, will be executed by Oando Clean Energy, the renewable energy unit of Oando Energy Resources.
Jean Kacou Diagou: Founder of Côte d'Ivoire’s first banking-insurance group
He transformed Africa’s financial sector by founding NSIA Group, the first Ivorian banking-insurance conglomerate, now operating in 12 countries.
7 banks backed by African billionaires
With deep pockets and a sharp eye for opportunity, billionaire-backed banks are making a mark in corporate finance, wealth management, and financial inclusion.