Rihanna’s $34.8 million fashion loss highlights the high cost of luxury bets
Rihanna lost $34.8 million from her Fenty fashion line with LVMH, which also lost $34.9 million before shutting down the label.
Bloomberg pegs Dangote’s net worth at over $30 billion; Forbes says not yet
Bloomberg values Aliko Dangote at $30.5 billion, while Forbes says he remains $3.9 billion short of reaching the $30 billion milestone.
Gabonese oil tycoon Samuel Dossou-Aworet set for big payout from ND Western
Gabonese oil magnate Samuel Dossou-Aworet eyes a major payout as Petrolin plans to sell its 40 percent ND Western stake to Aradel Energy.
South African tycoon Christopher Seabrooke gains $8.5 million from Sabvest stake
South African tycoon Christopher Seabrooke’s stake surges by $8 million as Sabvest Capital shares rally on the JSE, lifting his stake above $100 million.
Nigerian tycoon Rasheed Sarumi-led Presco sees profit doubles as revenue surge to $187 million
Rasheed Sarumi-led Presco sees profit surge to N110.79 billion and revenue climb to N274.5 billion on higher palm oil prices.
CRDB Bank, led by Abdulmajid Nsekela, secures $120 million to support East Africa’s entrepreneurs
Led by Abdulmajid Nsekela, CRDB Bank raises $120 million from FinDev Canada, DEG, and Shelter Afrique to boost women, youth, and small businesses.
Egyptian Ghabbour family’s stake in GB Corp rebounds above $350 million
The Ghabbour family’s GB Corp stake rebounds above $350 million as shares rally 17% on the Egyptian Exchange, restoring investor confidence in Egypt’s leading automaker.
Senegalese businessman Tamsir Ousmane Traore buys Ivorian freight startup
Senegalese businessman Tamsir Ousmane Traoré acquires Ivorian freight startup Kamtar, expanding Logidoo’s digital logistics network across West Africa.
Nigerian-Lebanese tycoon Bassim Haidar’s Optasia targets $1.5 billion valuation in Johannesburg IPO
Optasia, led by Nigerian-Lebanese tycoon Bassim Haidar, plans a Johannesburg IPO targeting a $1.5 billion valuation.
Egyptian tycoon Hani Berzi's Edita Food plans $6.7 million acquisition
Hani Berzi’s Edita Food acquires $6.7 million in machinery to raise capacity and strengthen its regional snack food expansion.
Egyptian billionaire Ahmed El-Sewedy gains $54 million from Elsewedy Electric stake
Egyptian billionaire Ahmed El-Sewedy’s stake in Elsewedy Electric rises by $51 million as the company’s shares climb 6.22% on the Egyptian Exchange over 23 days.
Malawian billionaire Hitesh Anadkat’s FMB stake surges above $1.4 billion
Malawian billionaire Hitesh Anadkat’s FMB stake has soared to $1.4 billion as the banking group’s shares rally 320 percent in 2025, driving renewed investor confidence.
Rihanna’s Fenty Beauty may see LVMH exit in $2 billion deal
Rihanna’s Fenty Beauty could see LVMH sell its 50 percent stake in a deal valuing the brand at $2 billion, reflecting shifts in the celebrity beauty market.
Aliko Dangote’s net worth surges, now $200 million shy of $30 billion
Aliko Dangote’s fortune hits $29.8 billion as gains from his cement and refinery ventures push him closer to the $30 billion mark.
Kanye West sells Wyoming ranch back to its original owners for $14 million
Kanye West has sold his 6,713-acre Wyoming ranch back to its original owners for $14 million, closing a five-year chapter of ambition and retreat.
Nigerian entrepreneur Tosin Eniolorunda’s Moniepoint raises $90 million for expansion
Moniepoint, founded by Nigerian entrepreneur Tosin Eniolorunda, has raised $90 million to drive its African expansion and strengthen global fintech operations.