Africa’s richest man to gain indirect stake in Kenya’s largest fast-food chain after Actis sale
The deal, valued at an undisclosed amount, is awaiting approval from the COMESA Competition Commission.
Aradel, led by Nigerian businessman Ladi Jadesimi, reports $160 million profit in 2024
This milestone secured it a spot as one of Nigeria’s most profitable companies, showcasing a dramatic 361.1 percent increase in profitability compared to the prior year.
Shoprite, backed by South African billionaire Christo Wiese, posts $6.8 billion in half-year sales
The group’s South African supermarket division, which accounts for 83.7 percent of total revenue, recorded a 10.4 percent increase in sales, reaching $5.7 billion.
Egyptian billionaire Sadek El-Sewedy's stake in electric giant nears $930 million
Sadek El-Sewedy’s stake in Elsewedy Electric has surged to nearly $930 million, reflecting strong investor confidence and stock price growth.
Durban-based FMCG giant, chaired by Geraldine Fraser-Moleketi, sells stake in Chile's Carozzi for $240 million
The deal is part of Tiger Brands’ efforts to refocus its operations and prioritize its core market in Southern Africa.
U.S. third-richest Black person Alex Karp gains $500 million after $5 billion increase in 2024
Palantir’s success in integrating AI into military operations has been a key driver behind both its rising valuation and Alex Karp’s growing wealth.
Nigerian President’s nephew, Wale Tinubu, confirms Oando’s oil facilities hold over $10 billion in value
This highlights Oando's dominance in the energy landscape as the company continues to expand its footprint both locally and globally.
Tourist arrivals help Mauritian Lagesse family-controlled LUX Island post $12.5 million profit
This boost in profit comes alongside a 16 percent increase in revenue, which rose from $99.6 million to $115.7 million in the first half of the year.
South African billionaire gains $360 million from Glencore shares after 2024’s $1.9 billion loss
This marks a partial recovery after a challenging year in which his stake dropped by nearly $2 billion.
Standard Bank’s market value drops below $20 billion amid non-compliance sanction
This decline has shaved $609.22 million off its market capitalization, reducing it from $20.18 billion to $19.57 billion.
Egypt’s richest man Nassef Sawiris sees Adidas stake climb to $3.3 billion
The rise in the market value of his stake in Adidas, from $3.1 billion to $3.35 billion, comes on the back of a strong rally in the company’s shares.
Internet group led by South African billionaire Koos Bekker to invest $20 billion in Europe
Prosus, which holds a diverse portfolio spanning fintech, social media, edtech, and food delivery, is doubling down on growth opportunities in the region.
Marvin Ellison's wealth soars: Black executive's stake jumps $8.5 million
After a strong year in 2024, his stake in Lowe’s has gained over $8.5 million in value in just the past 16 days.
Nigerian billionaire Adebayo Ogunlesi’s net worth increases to $2.3 billion one week after joining OpenAI board
The sharp increase in his fortune is tied to Adebayo Ogunlesi’s investment portfolio, valued at over $1.8 billion.
Sayyu Dantata, half-brother of Africa's richest man, struggles to sell $22 million Banana Island mansion
Dantata’s decision to sell the mansion coincides with reports that he is contemplating a return to his hometown of Kano State.
Angola to sell stakes in Unitel, years after gaining control from Africa’s first female billionaire
The decision follows nearly three years of state control after Unitel was seized from Africa’s first female billionaire, Isabel dos Santos.