Amsons Group acquires $70 million stake in Bamburi Cement, eyes full buyout
The move is part of Amsons’ strategy to consolidate its presence in East Africa’s construction sector.
CI Capital exits $23.6 million investment in Taaleem Management services
The divestment yielded an impressive four times return on invested equity, with an Internal Rate of Return (IRR) of approximately 50 percent.
Mohammed Elsewedy’s fortune up $293 million amid devaluation of Egyptian pound
This highlights his resilience in navigating one of Egypt’s most challenging economic years.
Patrice Motsepe’s Tyme Group, valued at $1.5 billion after $250 million raise
Tyme Group has raised $250 million in its latest funding round, boosting its valuation to $1.5 billion and positioning it among Africa’s few unicorns.
Refinery owned by Africa’s richest man exports petrol to South Africa, three other nations
Dangote Oil Refinery exports petrol to Cameroon, Angola, Ghana, and South Africa, a key milestone in reshaping Africa’s fuel market.
NFL reaffirms partnership with Roc Nation amid allegations against Jay-Z
While the allegations have cast a shadow over Jay-Z, Roc Nation’s NFL partnership appears unaffected.
Yasseen Mansour's Palm Hills stake gains $14 million despite Egyptian pound devaluation
The Egyptian billionaire’s stake could have grown by as much as $41.9 million if not for the devaluation of the Egyptian pound against the U.S. dollar.
Kessington Adebutu’s Wema Bank stake loses $2.73 million as naira depreciates
Adebutu’s holdings reflect broader economic challenges in Nigeria as Currency Depreciation Erases Gains Despite Wema Bank’s stock surge.
Africa's 5 most powerful women
Five African women made list of the World’s 100 Most Powerful Women, collectively influencing over a billion lives and wielding $33 trillion in economic power.
Johan Burger’s FirstRand stake boosts fortune by $2.64 million
FirstRand has delivered modest returns since the start of 2024, with local investors seeing a 9.17 percent increase in share price.
Meet Michelle Kilpin: First female MD of Tanzania’s biggest listed company
Kilpin’s career, which spans over two decades, is a testament to her unwavering commitment and exceptional leadership.
Hani Berzi's Edita Foods stake drops by more than $130 million
The decline stems from a steep fall in the company’s share price on the Egyptian Exchange (EGX) and the sharp devaluation of the Egyptian pound.
South Africa's top billionaire gains $800 million within eight days
Johann Rupert's net worth surged to $13.8 billion, nearing $14 billion for the first time since October.
Geregu Power eyes $40 million quarterly revenue target for early 2025
Geregu Power, led by Nigerian billionaire Femi Otedola, targets $40 million revenue in Q1 2025 as it builds on robust 2024 performance.
Naira's slide cuts Abdul Samad Rabiu's wealth by $3.6 billion
This sharp drop has pushed him from fifth to sixth place on the African rich list.
Adrian Gore makes $147.4 million from stake in South African insurer
The value of his holdings has climbed by R2.57 billion ($147.37 million) since the start of the year, reflecting the stock's robust rally.