Botswana magnate Chandra Chauhan leads Sefalana Group to record $800 million revenue
Chandra Chauhan’s Sefalana Group posts record $800 million revenue, driven by growth in retail and manufacturing across southern Africa.
Moroccan billionaire Alami Lazraq gains $36 million from ADI shares
Alami Lazraq gains $36 million in 8 days as shares of Alliances Développement Immobilier (ADI) surge on the Casablanca Bourse.
Paul Fokam’s Afriland First Bank to open new branches in Central Africa
Cameroonian businessman Paul Fokam’s Afriland First Bank gets Cobac approval to expand into Congo, CAR, and Chad, boosting regional banking reach.
Abdul Samad Rabiu’s net worth nears $8 billion after $400 million rebound
Abdul Samad Rabiu regains $400 million, lifting his net worth to $7.9 billion amid naira recovery and market growth.
Baloobhai Patel’s Aksaya to build Marriott-branded hotel at Nairobi Airport
Baloobhai Patel’s Aksaya Estates partners with Marriott to open a Courtyard hotel at Nairobi Airport, expanding luxury hospitality in Kenya.
Discovery co-founder Barry Swartzberg loses $40.7 million in share slump
South African tycoon Barry Swartzberg, co-founder of Discovery Limited, has seen his stake drop by $40 million as the insurer’s shares dip on the JSE.
IBL Group, led by Arnaud Lagesse, completes $117 million AfrAsia Bank stake sale
Mauritian tycoon Arnaud Lagesse’s IBL Group sells a $117 million AfrAsia Bank stake to Access Holdings to rebalance investments.
Tribunal resets control of Directline, impacting Kenyan media mogul SK Macharia
Tribunal resets Directline control, impacting SK Macharia and reinstating the insurer’s February 2023 ownership structure.
Mombasa tycoon Mohamed Jaffer faces new court battle over held wheat imports
Mohamed Jaffer’s Bulkstream Limited sued by Pan Afric Commodities over 1,514 tonnes of wheat held at Mombasa Port.
Shoprite shares fall, costing South African billionaire Christo Wiese $40 million
Christo Wiese loses $43.7 million after Shoprite shares dip, highlighting strain in South Africa’s retail sector.
Morocco’s richest man Othman Benjelloun sells Quebec estate for $10.4 million
Morocco’s richest man Othman Benjelloun sold his 500-hectare Quebec estate for $10.4 million, marking a profitable exit after 15 years.
Patrice Motsepe’s fortune tops $3.5 billion as gold prices hit all-time high
South African billionaire Patrice Motsepe’s net worth rebounds above $3.5 billion as gold prices surge past $4,000 per ounce.
Africa’s richest man Aliko Dangote plans fresh investments in Senegal
Aliko Dangote meets Senegal’s President Faye in Dakar to discuss new investments after launching a $2.5 billion fertilizer plant in Ethiopia.
Aspen’s market slide wipes $20 million off Stephen Saad’s stake
Stephen Saad’s Aspen Pharmacare stake drops by $20 million as the company’s stock slips 6 percent on the Johannesburg Stock Exchange (JSE).
Ivorian tycoon Koné Dossongui to buy gold mine for $305 million
Koné Dossongui is expanding his business empire into gold mining through a $305 million deal with Canadian miner Barrick Gold for the Tongon mine in Côte d’Ivoire.
Naguib Sawiris becomes Egypt’s first billionaire worth $10 billion
Egyptian billionaire Naguib Sawiris has become the country’s first to surpass $10 billion in net worth, driven by a surge in gold prices boosting his mining assets.