Africa’s richest man to gain indirect stake in Kenya’s largest fast-food chain after Actis sale
The deal, valued at an undisclosed amount, is awaiting approval from the COMESA Competition Commission.
South Africa’s Ackerman family faces $20 million loss on Pick n Pay shares
The family’s stake, previously valued at R4 billion ($213.8 million), now stands at R3.62 billion ($193.95 million).
Aradel, led by Nigerian businessman Ladi Jadesimi, reports $160 million profit in 2024
This milestone secured it a spot as one of Nigeria’s most profitable companies, showcasing a dramatic 361.1 percent increase in profitability compared to the prior year.
10 assets owned by Kenya’s largest landholders, Kenyatta family
Driven by the vision for Kenya’s development, the Kenyattas have strategically invested in sectors crucial to the nation’s growth, from infrastructure to agriculture.
Egyptian tycoon Abdallah Sallam’s Madinet Masr seals $9.5-million Taj City deal
As part of the agreement, Korra Energy will lead the construction of a showroom in Tajed, a key component of Taj City’s broader mixed-use development.
Shoprite, backed by South African billionaire Christo Wiese, posts $6.8 billion in half-year sales
The group’s South African supermarket division, which accounts for 83.7 percent of total revenue, recorded a 10.4 percent increase in sales, reaching $5.7 billion.
South African billionaire Michiel Le Roux faces $164.5 million loss from Capitec share drop
This decline has reduced the market value of his stake to $2.05 billion as the bank contends with broader market challenges.
Egyptian billionaire Sadek El-Sewedy's stake in electric giant nears $930 million
Sadek El-Sewedy’s stake in Elsewedy Electric has surged to nearly $930 million, reflecting strong investor confidence and stock price growth.
Durban-based FMCG giant, chaired by Geraldine Fraser-Moleketi, sells stake in Chile's Carozzi for $240 million
The deal is part of Tiger Brands’ efforts to refocus its operations and prioritize its core market in Southern Africa.
U.S. third-richest Black person Alex Karp gains $500 million after $5 billion increase in 2024
Palantir’s success in integrating AI into military operations has been a key driver behind both its rising valuation and Alex Karp’s growing wealth.
Johann Rupert’s Reinet faces shareholder shift amid broader strategic moves
PIC lowers voting rights in Reinet to 14.956%, reflecting strategic portfolio adjustments post-Reinet's $1.5 billion BAT divestment.
Meet Edha Nahdi: Tanzanian tycoon driving East Africa’s cement revolution
Nahdi’s crowning achievement is Amsons Group’s acquisition of Bamburi Cement, Kenya’s largest producer.
Zenith Bank, led by Nigerian banker Jim Ovia, raises $230.3 million in public offering, rights issue
This milestone solidifies Zenith’s position as one of Nigeria’s top-capitalized financial institutions.
Egyptian multimillionaire Safwan Thabet’s Juhayna stake gains $30.1 million
In the past nine days, his shares have increased by $30.1 million, pushing the market value of his stake above $325 million.
Nigerian President’s nephew, Wale Tinubu, confirms Oando’s oil facilities hold over $10 billion in value
This highlights Oando's dominance in the energy landscape as the company continues to expand its footprint both locally and globally.
Tourist arrivals help Mauritian Lagesse family-controlled LUX Island post $12.5 million profit
This boost in profit comes alongside a 16 percent increase in revenue, which rose from $99.6 million to $115.7 million in the first half of the year.