James Mwangi-led Equity Group’s life insurance unit shakes up Kenya market
Equity Life’s rise coincides with Mwangi’s continued regional expansion of Equity Group across East and Central Africa.
South African tycoon Jonathan Jawno gains $3 million from Transaction Capital stake
Jawno, a founding member of Transaction Capital, holds a 9.59-percent stake in the group, amounting to 72,667,000 ordinary shares.
Egyptian tycoon Medhat Khalil’s Raya CX buys stake in Bahraini firm from U.S. investor
The acquisition, detailed in a market filing, saw Raya CX purchase 59,170 shares in the Bahraini company from an American investor.
South Africa’s richest man Johann Rupert’s wealth jumps $500 million in 6 days
The surge in Rupert’s wealth, an average gain of $83.3 million per day since May 2, is attributed to the performance of his 9.14-percent stake in Richemont.
Moroccan billionaire Anas Sefrioui sees nearly $90-million loss in ADH stake
According to data tracked by Billionaires.Africa, Sefrioui’s stake in ADH has declined by MAD900.65 million ($89.8 million) over the past nine days.
South African tycoon Giovanni Ravazzotti takes $9.1-million hit from Italtile stake
As a result of the recent share price decline, Ravazzotti, who founded Italtile in 1969 and owns a 33.88-percent stake (447,746,694 shares).
Tunisian tycoon Abdelwaheb Ben Ayed-linked Poulina group posts $40.6-million profit in 2023
As a leading business executive who played a pivotal role in Poulina Group, Ben Ayed owns a beneficial 3.4-percent stake in the Tunis-based conglomerate.
Black billionaire Michael Lee-Chin backs Canada’s nuclear industry
In a recent interview with BNN Bloomberg, Lee-Chin, highlighted the historical correlation between energy source transitions and economic power shifts.
Nigerian oil magnate Wale Tinubu’s Oando to double production with Eni deal
This projection comes with the expectation of further scaling up to 100,000 barrels daily by 2029 through new drilling and security improvements.
Serena Williams, others join Michael Jordan’s tequila brand as co-owners
With Michael Jordan and Serena Williams at the helm, Cincoro Tequila embarks on a journey fueled by ambition, excellence, and star power.
South African businessman Des de Beer’s trust secures approval for $447-million bond listing
Rand Merchant Bank, a division of FirstRand, assumed the role of debt sponsor, further bolstering confidence in Resilient’s financial endeavors.
Egyptian tycoon Hani Berzi’s stake in Edita Foods gains $11 million in 9 days
The significant increase in the market value of Berzi’s stake in Edita Food Industries further solidifies his position as one of the richest individuals in Egypt.
Ezz Steel shares plunge, costing Egyptian tycoon Ahmed Ezz $35.9 million
Egyptian billionaire and prominent industrialist Ahmed Ezz owns 60.7 percent of Ezz Steel, or 329,816,198 shares.
America’s richest Black billionaire David Steward loses half a billion in net worth
As a result of the recent $500 million drop in his fortune, Steward’s year-to-date wealth gains now stand at $2.31 billion, down from $2.78 billion on April 27.
Nigerian gambling magnate Kessington Adebutu gains $4.4 million from Wema Bank stake
Wema Bank has seen its share price surge 28.1 percent in recent weeks, climbing from N6.05 ($0.0044) on May 1 to N7.75 ($0.0056) at the time of writing.
Absa Group, led by South African exec Arrie Rautenbach, unveils $3.2-billion bond program
Rautenbach, a veteran South African banker with deep financial services expertise, holds a 0.026 percent stake (218,412 shares) in Absa Group.