WPP Scangroup, founded by Kenyan tycoon Bharat Thakrar, set for layoffs amid half-year loss
WPP Scangroup, founded by Bharat Thakrar, is cutting jobs after posting a half-year loss amid weak demand and cash strain.
Royal Bank of Canada raises stake in Bertina Engelbrecht-led Clicks Group to $257 million
Royal Bank of Canada boosts its stake in Clicks Group to $257 million, signaling confidence in South Africa’s healthcare retail sector.
South African billionaire Johann Rupert’s Richemont to open new Hong Kong store
South African billionaire Johann Rupert’s Richemont brings Vhernier to Asia with a new Hong Kong boutique.
Inside Africa’s billionaire foundations reshaping health and education
Across Africa, billionaire-backed foundations are funding schools, clinics and jobs, reshaping philanthropy into structured platforms that transform lives.
Bitumen World, backed by Zimbabwe's Rudland family, cuts jobs as cash flow tightens
Bitumen World, backed by Zimbabwe’s Rudlands, cuts jobs as delayed government payments and cash flow pressures strain the construction firm’s operations.
Kenyan tycoon TK Muya’s Family Bank plans $48 million capital raise
Family Bank targets $48 million private placement to fund regional expansion and strengthen capital after strong H1 profits.
South African tycoon Giovanni Ravazzotti to receive $41-million from Italtile dividend
Giovanni Ravazzotti to receive $41.65 million from Italtile’s $73.71 million special dividend for 2025.
Bill Gates’ anti-malaria program halted in Burkina Faso
Burkina Faso suspends Gates Foundation anti-malaria project, raising debate over genetically modified mosquitoes.
Michael Jordan nears $4 billion net worth
Michael Jordan nears $4 billion fortune as his wealth hits $3.8 billion, ranking among the world’s richest Black billionaires.
Egyptian billionaire Sadek El-Sewedy loses nearly $60 million from Elsewedy stake
Egyptian billionaire Sadek El-Sewedy’s stake in Elsewedy Electric drops by $58.6 million as shares decline.
South African billionaire Jannie Mouton’s Capitec stake tops $1.2 billion
Jannie Mouton’s Capitec stake tops $1.2 billion as an 18-day share rally adds $67.58 million in value, cementing his position among South Africa’s financial elite.
Wema Bank, partly owned by gambling magnate Adebutu, raises $103 million in rights issue
Wema Bank, partly owned by Nigerian gambling magnate Kessington Adebutu, tops target with $103.1 million rights issue, boosting capital strength and growth outlook.
Dangote refinery signs deal with Japanese firm for petrochemical production in Nigeria
Dangote’s $20 billion refinery partners with Japan’s Mitsui Chemicals to boost petrochemical output, targeting Africa’s $15 billion import market.
Stella Okoli’s $23 million plant to boost pharma self-sufficiency in Nigeria
Emzor is investing $23 million in Nigeria’s first API plant to cut drug imports, lower costs, and boost medicine security.
Nigerian beverage billionaire Adebola Adegunwa takes on Coca-Cola and plastic waste
Nigerian billionaire Adebola Adegunwa, owner of Rite Foods, challenges Coca-Cola while tackling plastic waste with bold clean-up campaigns and sustainability projects.
5 Nigerian women who own oil blocks
In Nigeria’s upstream oil, long dominated by men, five women now own blocks in exploration, discovery, and production.