Africa’s first Black billionaire Patrice Motsepe’s ARM acquires stake in South African nickel mine
This acquisition aligns with Motsepe’s earlier announcement of ARM’s proactive pursuit of valuable lithium and copper assets.
North Africa’s richest man Nassef Sawiris gains $350 million in 12 days
This solidifies his standing as one of Africa’s wealthiest individuals. His year-to-date gains now total $576 million.
Kenyan banker James Mwangi says Equity Group’s DRC unit will soon overtake Kenya
Mwangi credited the growing influence of Equity Group’s subsidiaries, especially the DRC unit, for the overall performance of the group in the first nine months of 2023.
Africa’s richest man Aliko Dangote makes $800 million in 10 days
Dangote’s $800-million wealth surge and net worth recovery stand out as the Nigerian naira gains momentum, reclaiming ground on the official market.
Jason Quinn: First person ever to serve as CEO of two ‘Big Four Banks’ in South Africa
Given Quinn’s performance at Absa Group, he emerged as the ideal candidate to succeed Mike Brown at Nedbank Group.
Nigerian billionaire Femi Otedola sells 1 million shares in Geregu Power
Femi Otedola executed a cross deal on the Nigerian Exchange via his company, Amperion Power Distribution Company Limited.
Nedbank welcomes South African banker Jason Quinn as chief executive
Quinn joins Nedbank from Absa Group, where he served as the financial director of both Absa Group and Absa Bank.
Kampala court halts bid by struggling Ugandan tycoon to reclaim assets mortgaged to South African creditors
Prior to the recent ruling, the International Chamber of Commerce Court of Arbitration ordered Bitature, his wife, and their companies to pay a total of $65.7 million.
Egyptian billionaire Ahmed Ezz rakes in $57.5 million in November
Egyptian billionaire Ahmed Ezz’s stake in Ezz Steel surpasses $830-million mark.
South African mogul Neal Froneman-led mining group launches $500-million bond to fuel growth
Froneman — a driving force behind Sibanye-Stillwater’s transformation — holds a 0.3-percent stake in the precious metal mining group.
Kenyan tycoon James Mwangi-led lender reports nine-month profit exceeding $230 million
Under the leadership of Mwangi, Equity Group has solidified its position as a dominant force in East and Central Africa.
Africa’s first Black billionaire-linked telecom firm to state case in Vodacom-BVI merger
Rain Limited is a South African mobile communications company partly owned by Paul Harris, Michael Jordaan, and Patrice Motsepe
The Saltzmans, one of South Africa’s richest families, make $103 million in 27 days
The Saltzman family, who own 35.12 percent of Dis-Chem, played a key role in steering its growth into one of South Africa’s largest retail pharmacy chains.
Billionaire Theophilus Danjuma donates $1.36-million to Nigerian university
The $1.36-million donation, through the T.Y. Danjuma Foundation, is the largest donation by an individual for the construction of a student hostel in Nigeria.
Nigerian businessman Tony Elumelu and wife acquire 23 million new shares in UBA
The move by Elumelu and his wife is viewed as a vote of confidence in UBA’s financial performance.
Lewis Hamilton speaks out on challenges in F1, discusses ventures beyond racetrack
In a recent interview with CNBC, the seven-time world champion detailed the problems of balancing racing and personal life.