Ethiopia’s richest man Mohammed Al-Amoudi sees Preem stake soar to $4.7 billion
Preem’s newly published 2024 annual report provided fresh insights into its valuation, driving up the value of Mohammed Al-Amoudi’s stake.
Inside Davido’s double life: Afrobeats superstar and power industry executive
The Grammy-nominated, multi-award-winning artist balances Afrobeats stardom with a key role in his father’s billion-dollar power company.
Absa Bank names South African banking veteran Kenny Fihla as new CEO
He will take over from Charles Russon, who has been serving as interim CEO following the early retirement of the previous chief executive.
Nigerian businessman Oba Otudeko summoned to court over $24 million fraud
The case adds to his growing legal troubles, marking another chapter in the challenges facing the former FBN Holdings chairman and founder of Honeywell Group.
Noel Mkulichi: 7 career-defining milestones of the Malawian banker
Noel Mkulichi transformed FDH Bank, boosting its market cap to $1.26 billion while advancing fintech, expanding financial inclusion, and reshaping Malawi’s banking sector.
Nigerian President awards Lagos Ports renovation project to billionaire linked to Sani Abacha
Gilbert Chagoury has been a major force in Nigeria’s business world for decades.
MTN, under Zimbabwean executive, posts $614 million loss amid naira weakness, Sudan conflict
While business remained stable in South Africa, Uganda, Ghana, and Cameroon, the situation in Nigeria, Afghanistan, and Sudan weighed heavily on overall performance.
10 companies owned by Kenyan businessman Peter Munga
Over the years, Munga has built a diverse business empire spanning, banking, agribusiness, insurance, and real estate.
Noluthando Gosa-linked ArcelorMittal South Africa seeks $170 million cash rescue
ArcelorMittal SA seeks a $170 million bailout to prevent steel mill closures, risking 3,500 jobs amid high costs, imports, and stalled government talks.
Johannesburg fund led by Laurence Rapp acquires Valencia’s biggest mall for $332 million
The €305 million ($332 million) deal was executed through Castellana Properties, Vukile’s 99.5%-owned Spanish subsidiary.
South Africa’s richest man loses $1.4 billion in 12 days
This follows a strong start to the year, when his net worth surged by $3.32 billion, rising from $13.7 billion to $17 billion by early March.
Kenya’s 30 richest people
Kenya’s wealth creation remains strong amid global turbulence, driven by a resilient private sector and strategic business environment.
NBA star Damian Lillard makes power move in $6 billion sneaker insole market
When he launched Move in late 2021 as a direct-to-consumer brand, it generated over $100,000 in sales within its first month, signaling strong market demand.
South African tech mogul Zak Calisto takes $180 million hit on Karooooo stake
The $809.2 million decline comes after a brief surge between Jan. 27 and Feb. 6, when his holdings gained $71 million before the downturn wiped out those gains.
South African billionaire Patrice Motsepe re-elected unopposed as CAF President
His leadership has reshaped CAF’s financial outlook, attracting record sponsorship deals and boosting revenue streams.
Anglo American, led by South Africa’s Duncan Wanblad, to restructure operations, reduce jobs
The company is shedding assets and gearing up to spin off its platinum division in a push to streamline operations and boost profitability.