Dis-Chem Founder Ivan Saltzman to step down as CEO in June 2023
Dis-Chem’s founder and long-time steps down; CFO Rui Morais to become CEO in July.
Swazi billionaire Natie Kirsh bounces back from losses, gains $460 million
Kirsh’s net worth bounces back by $460 million after a multimillion-dollar slump earlier this year.
Chris Kirubi’s heirs suffer $1.44-million loss from stake in Kenya’s largest listed investment firm
The heirs of late Kenyan billionaire Chris Kirubi experience a significant decline in Centum Investment’s stake.
Ghanaian mining tycoon Ibrahim Mahama signs $230-million equipment financing deal
Mahama, 52, is one of Ghana’s richest men and the founder of Engineers & Planners.
Adidas share price slump costs Egypt’s richest man $300 million in a single week
Sawiris remains the richest man in Egypt and the Arab world.
Led by wealthy Khamis family of Egypt, Oriental Weavers’ profit surges 74 percent y-o-y in Q1 2023
Egyptian businesswoman Yasmine Mohamed Khamis and other Khamis family members own a 56.58-percent controlling interest in Oriental Weavers.
Meet Robert L. Johnson, the first Black billionaire; he ushered in a new era for Black entrepreneurs
As the founder and former chairman of BET, Johnson built America’s first Black-owned cable television network.
Egyptian billionaire Yasseen Mansour gains $2.2 million from real estate firm
Mansour sees gains from stake in Palm Hills Developments, with shares increasing by 20.86 percent.
Egyptian billionaire Naguib Sawiris supports brother’s decision to relocate investments to Saudi Arabia
Naguib Sawiris has defended his brother Samih’s statements on the difficulty of doing business in Egypt.
Malagasy tycoon Hassanein Hiridjee looks to acquire MTN assets
Hiridjee and his Axian Group have executed a few telecom deals in Africa in the last few years.
Tony Elumelu’s wife, Awele, acquires $14-million stake in Transcorp
Awele Elumelu acquired a 5.076-percent stake in Transcorp, making her one of the largest shareholders in the conglomerate.
Adidas proves it can thrive without Kanye West, set to sell $1 billion worth of Yeezy shoes
Adidas will sell $1 billion worth of Yeezy shoes made with Kanye West.
Africa’s first Black billionaire Patrice Motsepe loses $800 million
Motsepe’s net worth falls by $800 million as African Rainbow Minerals shares decline.
Zenith Bank CEO Ebenezer Onyeagwu invests in bank’s future with 8 million new shares
Onyeagwu’s stake in Zenith Bank has increased from 0.26 percent, or 82,176,078 shares, to 0.29 percent, or 90,176,078 shares.
Johann Rupert’s Richemont smashes expectations with $4.25 billion in profit in 2023
Rupert said the company’s brands are well-positioned to meet strong demand driven by the resumption of travel by customers from China.
Nigerian oil tycoon Abdulwasiu Sowami completes acquisition of Ardova, pays Femi Otedola $19 million
In 2020, Sowami acquired a controlling stake in Forte Oil from Otedola’s Zenon Petroleum and Gas Limited.