Mary Vilakazi leads Africa’s biggest lender to $1.23 billion half-year profit
Led by South African banker Mary Vilakazi, FirstRand continues to demonstrate resilience and solid returns for shareholders despite challenging economic conditions.
Aliko Dangote’s refinery, others under pressure as NNPC ends naira-for-crude deal
The move is expected to drive up operational costs and could lead to higher fuel prices.
South Africa’s Saltzman family sees $45 million wipeout as Dis-Chem shares plunge
This latest drop comes after a $26.33 million loss earlier in the year.
Edita, led by Egyptian businessman Hani Berzi, sees profits slip below $30 million on rising costs
While revenue surged, higher operational costs and currency devaluation cut into profits, pushing earnings below the previous year’s $30 million benchmark.
Bidvest, led by South African executive Mpumi Madisa, secures UK nod for Citron takeover
This marks a major step in Bidvest’s global expansion, strengthening its position in hygiene, facilities management, and distribution services.
Moroccan businessman Alami Lazraq’s real estate stake falls below $700 million
The decline comes after a strong run earlier this year. Between Feb. 11 and 19, the value of Lazraq’s holding jumped by $89.7 million.
South African billionaire Patrice Motsepe to pocket $25.4 million from mining business
This payout comes despite a 25% dividend cut amid falling earnings and financial strain in a volatile commodity market.
Naguib Sawiris, Egypt’s second-richest man, is $469 million richer this year
This follows a $500 million gain in 2024 when his fortune increased from $6.48 billion to $6.98 billion.
One year after Lagos waste deal, Ghanaian tycoon Joseph Siaw Agyepong secures Gambia contract
The agreement, finalized in Accra on March 3, marks another step in Jospong’s expansion across Africa.
Egyptian billionaire Samih Sawiris transforms Andermatt with $1.2 billion luxury makeover
The revitalized resort now offers world-class skiing, scenic hiking trails, championship golf, and Michelin-starred dining.
South African billionaire Christo Wiese’s Shoprite stake drops below $1 billion—first time in months
The decline reflects growing pressure on retail stocks in South Africa, as investor sentiment shifts on the Johannesburg Stock Exchange.
Simbisa, led by Zimbabwean businessman Addington Chinake, reports $157.5 million revenue
Simbisa Brands’ H1 2025 revenue rose 7% to $157.5 million, but profits fell 10.7% as rising costs in Zimbabwe and Kenya squeezed margins
Kenafric, led by Kenya’s Shah family, expands in East Africa with stationery firm acquisition
The deal, backed by Kenya’s billionaire Shah family, strengthens Kenafric’s presence in the fast-moving consumer goods sector.
Patrice Motsepe’s African Rainbow Minerals sees profit halve as mining pressures mount
The company’s headline earnings fell 49 percent to R1.52 billion ($83.43 million), down from R2.96 billion ($162.2 million) a year earlier.
Malawian insurance mogul Vizenge Kumwenda gains $10.8 million from NICO stake
Beyond his investment in NICO Holdings, Kumwenda also owns a 0.17-percent stake in NBS Bank, valued at MWK1.73 billion ($1 million).
Egyptian billionaire Yasseen Mansour leads Palm Hills to $536.1 million revenue in 2024
Palm Hills Developments' revenue surged 55.6% to $536 million in 2024, doubling profits as unit sales soared as strong asset growth cements its market leadership.