Adidas sells off Kanye West’s Yeezy stockpile, bringing in $1.52 billion in two years
Adidas partnered with Kanye West in 2015 to launch Yeezy, boosting his net worth to $2 billion in 2022.
Malawi’s 15 richest people amass a stunning $1.92 billion fortune
Anadkat and Mpinganjira account for $1.66 billion of the total combined wealth of Malawi’s 15 richest individuals.
South African tycoon Paul Hanratty-led Sanlam, declares $522.3 million dividend payout in 2024
Sanlam raises its dividend 11% to $522.3 million, driven by strong earnings, strategic partnerships, and solid growth in key African and Indian markets.
Nigerian tycoon Kessington Adebutu’s Wema Bank plans $98.9 million rights issue
The offering includes 14.29 billion shares priced at N10.45 ($0.007) each, reinforcing the bank’s efforts to strengthen its financial position.
South African tycoon Adrian Gore’s stake in Discovery rises by $42.9 million in three weeks
The steady rise in Adrian Gore’s stake reflects growing investor confidence in Discovery.
Zimbabwean billionaire Strive Masiyiwa’s Econet to pay $18.9 million to investors
Econet Wireless to pay $18.91 million dividend, up 32.73%, as data revenue surges, reflecting a shift toward data-driven services.
Nassef Sawiris, North Africa’s richest man, is $264 million richer this year
This follows a $310 million gain in 2024, when his wealth increased from $8.41 billion to $8.72 billion.
Nigerian glass and aluminum company sees fourfold profit surge under Bella Disu
Her leadership has not only steered the company back to profitability but has also reinforced the business acumen that runs deep in the Adenuga family.
Seplat, co-founded by Nigerian tycoon Austin Avuru, to pour $320 million into onshore expansion in 2025
The company’s capital expenditure guidance for 2025 includes between $180 million and $220 million allocated to its Seplat Onshore division.
South Africa’s largest gold miner, backed by Patrice Motsepe, posts $2 billion in half-year revenue
Harmony Gold posted $1.98 billion in H1 revenue, driven by surging gold prices, cost control, and a record dividend, despite a slight dip in production.
Nigeria’s Vice President, Dangote, and others join Nigerian billionaire Femi Otedola for First Bank’s 43-story HQ
Shettima praised FirstBank and its parent company, FirstHoldCo, under Otedola’s leadership, calling the project a testament to commitment innovation, and sustainable development.
I&M Bank, founded by Kenyan tycoon Suresh Bhagwanji Shah, to open nine new branches
By the end of next year, I&M Bank aims to reach 100 branches, further cementing its status as one of Kenya’s top-tier financial institutions.
Pakinam Kafafi, Egyptian executive, leads TAQA Arabia to $370 million in revenue for 2024
The company’s growth was driven by increasing energy demand and strategic expansion efforts, reinforcing its position as a key player in Egypt’s energy sector.
Ethiopian billionaire Mohammed Al-Amoudi’s Preem posts $12.8 billion in 2024 revenue
The company reported lower revenue and profit for the second straight year, reflecting weaker refining margins and a challenging market environment.
South African billionaire Christo Wiese-backed Shoprite rewards investors with $91.5 million payout
The payout reflects the company’s commitment to rewarding shareholders while navigating economic pressures.
Bidvest, led by South Africa’s Mpumi Madisa, announces $86.9 million dividend payout
Bidvest posts higher profit, declares $86.9 million dividend as strong cash flow, resilient demand, and disciplined strategy offset economic headwinds.