Aliko Dangote’s refinery set to commence operation as first crude stock arrives
This comes shortly after the mega refinery received its license to refine over 300,000 barrels of Nigerian crude daily in November.
South African tycoon Des de Beer moves $16.4 million in Lighthouse shares to private firm
This signifies an internal restructuring within the Des de Beer family’s investment portfolio, leaving his indirect beneficial interest in Lighthouse unchanged.
America’s second-richest Black billionaire David Steward gains $480 million in 24 days
According to the Bloomberg Billionaires Index, Steward’s fortune increased by $480 million over the past 24 days.
Selorm Adadevoh becomes second Ghanaian top executive in African telecom giant, MTN Group
Effective April 1, 2024, Adadevoh will assume his new role in Johannesburg and will be responsible for leading commercial strategy and the group’s operations.
Otedola becomes second Nigerian billionaire with stakes in two companies worth over 1 trillion naira
With his strategic investments and relentless pursuit of excellence, Otedola continues to make significant contributions to the Nigerian economy and beyond.
Ugandan tycoon Patrick Bitature and Absa Bank clash over $13.6-million loan
The growing number of legal disputes surrounding Bitature has raised concerns about his financial standing.
Startup led by Nairobi-based entrepreneur secures $5-million funding from UK gov’t
BasiGo has secured $5 million in debt funding from British International Investment.
North Africa’s richest billionaire relocates family office to Abu Dhabi
Sawiris eyes Africa, the Middle East, and beyond with Abu Dhabi as the springboard.
Tanzanian multimillionaire Said Bakhresa set to invest $100 million in Malawi
Bakhresa’s planned investment holds immense significance in enhancing Malawi’s self-sufficiency in cooking oil production.
7 iconic assets the late South African businessman Eric Ellerine owned
Ellerine’s legacy extends beyond furniture retail, shaping the landscape of South Africa’s business and investment sectors.
Eric Ellerine, one of South Africa’s richest men, dies at 90
As one of the country’s wealthiest individuals, his passing marks the end of an era.
Top Black executive Desiree Ralls-Morrison earns $4.8-million salary from McDonald’s
With a $4.8-million compensation package, Ralls-Morrison’s leadership redefines the role of legal counsel in the corporate landscape.
Billionaire Mike Adenuga-linked Julius Berger delivers $425-million bridge to Nigerian gov’t
Julius Berger, the renowned construction giant partly owned by Nigerian billionaire Mike Adenuga, has officially handed over the N336 billion ($425.6 million)…
South African exec Derrick Msibi’s Stanlib plans $160-million investment in Africa’s renewable energy
Stanlib Asset Management, one of South Africa’s top investment firms, led by business executive Derrick Msibi, has unveiled plans to invest $160…
SA billionaire Johann Rupert’s Richemont rules out plans to invest in loss-making British luxury retailer
Last year, Rupert’s Richemont agreed to sell a 47.5-percent stake in its Yoox Net-A-Porter (YNAP) fashion and accessories business to Farfetch.
Gabonese oil tycoon Samuel Dossou-Aworet’s stake in Seplat crosses $230-million mark
Dossou-Aworet has recorded a notable surge in his fortune, propelled by the performance of his holdings in Nigeria’s largest listed energy group.