Johann Rupert’s Reinet in talks to sell pension stake in deal worth up to $6.8 billion
Reinet, led by Johann Rupert, is in talks to offload its top asset, Pension Insurance Corp, in a deal worth up to $6.85 billion.
South African pharma tycoon Stephen Saad’s Aspen stake falls below $400 million
Stephen Saad’s stake slips below $400 million as Aspen shares fall 5.2% dragging market cap under $3 billion.
Hassanein Hiridjee’s AXIAN Telecom raises $600 million to expand connectivity in Africa
AXIAN Telecom secures $600M in bond funding to deepen digital reach, expand broadband, and connect millions across Africa.
Egypt’s Mohammed El-Sewedy sees electric stake rise toward $600 million
Egyptian tycoon gains $31.6 million in eight days as Elsewedy Electric stock surges on EGX.
Billionaire philanthropist Aminu Dantata, uncle to Aliko Dangote, dies at 94
News of his passing was confirmed on Saturday by his Principal Private Secretary, Mustapha Abdullahi Junaid, who shared the announcement with deep sorrow.
Billionaire Femi Otedola backs tax reforms, calls them turning point for Nigeria’s economy
The Nigerian businessman and philanthropist hails President Tinubu’s overhaul of Nigeria’s tax laws as a transformative moment for business and inclusive growth.
Neal Froneman’s Sibanye nears decision on restarting $281 million Burnstone gold project
“There’s no question, it’s a good project,” Froneman said, noting that the company had already invested $223.3 million before pausing development in 2021.
Aliko Dangote’s fertilizer plant listing may fetch $3 billion in market value
The fertilizer plant, spread across 500 hectares in Ibeju Lekki, Lagos, is already the largest of its kind in Africa.
Jay-Z’s Roc Nation Sports signs deal with world’s first electric raceboat series
Jay-Z’s Roc Nation Sports partners with E1 to spotlight electric boat racing through culture, storytelling, and sustainable innovation.
Ghana’s Agyepong expands waste management operations to Burkina Faso after Lagos deal
Agyepong’s Jospong Group expands into Burkina Faso, launching a youth-led waste management system after sealing a landmark deal in Lagos.
Sven Thieme expands O&L’s footprint in Namibia’s luxury tourism with Desert and River Lodge acquisitions
The deal is currently subject to approval by the Namibian Competition Commission.
Black executive Marvin Ellison’s stake in Lowe’s grows by $5.8 million
Lowe’s CEO Marvin Ellison adds $5.8 million to his stake as shares rise 3.67%, lifting the retailer’s market cap above $120 billion.
Nigerian tycoon TY Danjuma’s IMG gets backing for $4.2 million rights issue
TY Danjuma’s IMG wins shareholder support for $4.2 million rights issue after revenue surge; expands investments in power, gas, and agribusiness sectors.
How Prosus plans to repeat South African billionaire Bekker’s billion-dollar Tencent bet
Prosus bets big on India, echoing Bekker’s Tencent strategy with long-term investments in tech platforms like PayU and Meesho.
Kenny Fihla-led Absa accounting ‘in disarray,’ court denies property seizure bid
The court rejected Absa’s application, insisting the matter requires full trial and mediation, which the bank had declined.
Hassanein Hiridjee’s AXIAN Telecom secures $28.8 million loan after Jumia stake deal
AXIAN Telecom secures $28.8 million from IFC to expand broadband in Comoros, including 5G rollout and fiber upgrades starting in 2025.