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.
Nigerian gambling magnate Kessington Adebutu’s Wema Bank stake falls below $90 million
Kessington Adebutu’s Wema Bank stake drops below $90 million as shares fall amid selling pressure on the Nigerian Exchange.
Harrods sets aside $83 million for victims of Egyptian billionaire Mohamed Al-Fayed
Harrods sets aside $83.9 million for victims of late Egyptian billionaire Mohamed Al-Fayed’s alleged abuse.
Tope Shonubi’s Sahara Group eyes 350,000 barrel output with 7 new rigs
Tope Shonubi’s Sahara Group ramps up oil output plans to 350,000 barrels per day with seven new rigs driving Nigeria’s upstream growth.