Lagos-based Greek businessman makes $17.1 million from stake in Flour Mills
Founded in 1960 by the late George Coumantaros and now led by his son John Coumantaros, Flour Mills has become a major player in Nigeria’s food and agro-allied industries.
South African-British billionaire Clive Calder’s fortune jumps $300 million in 16 days
Calder’s recent wealth surge solidifies his position as a top figure on both the African and global stages, underscoring his enduring influence.
Africa’s first Black billionaire Patrice Motsepe backs Lesaka as it inks $85-million deal to acquire Adumo
Motsepe, who became Africa’s first Black billionaire in 2008 thanks to his mining ventures, is establishing a new base for his fortune, building resilience, and seeking future opportunities.
French billionaire’s firm buys $30.6-million stake in DStv parent, MultiChoice
Vivendi, partly owned by Bollore Group, is using its subsidiary Canal+ to steadily increase its stake in MultiChoice, signaling its expanding ambitions in Africa’s entertainment market.
Egyptian tycoon Medhat Khalil’s Raya CX buys stake in Bahraini firm from U.S. investor
The acquisition, detailed in a market filing, saw Raya CX purchase 59,170 shares in the Bahraini company from an American investor.
Moroccan billionaire Anas Sefrioui sees nearly $90-million loss in ADH stake
According to data tracked by Billionaires.Africa, Sefrioui’s stake in ADH has declined by MAD900.65 million ($89.8 million) over the past nine days.
Black billionaire Michael Lee-Chin backs Canada’s nuclear industry
In a recent interview with BNN Bloomberg, Lee-Chin, highlighted the historical correlation between energy source transitions and economic power shifts.
Nigerian oil magnate Wale Tinubu’s Oando to double production with Eni deal
This projection comes with the expectation of further scaling up to 100,000 barrels daily by 2029 through new drilling and security improvements.
Serena Williams, others join Michael Jordan’s tequila brand as co-owners
With Michael Jordan and Serena Williams at the helm, Cincoro Tequila embarks on a journey fueled by ambition, excellence, and star power.
Egyptian tycoon Hani Berzi’s stake in Edita Foods gains $11 million in 9 days
The significant increase in the market value of Berzi’s stake in Edita Food Industries further solidifies his position as one of the richest individuals in Egypt.
America’s richest Black billionaire David Steward loses half a billion in net worth
As a result of the recent $500 million drop in his fortune, Steward’s year-to-date wealth gains now stand at $2.31 billion, down from $2.78 billion on April 27.
South African exec Jackie van Niekerk-led trust acquires rest of Mall of Africa
With this transaction, Attacq now indirectly owns 100 percent of Mall of Africa, up from AWIC’s previous 80-percent holding.
Cemtech eyes 5,500 clinker plant as Narendra Raval tightens grip on Kenyan market
Under Raval’s leadership, Cemtech has submitted an environmental impact assessment (EIA) report to the National Environment Management Authority (NEMA) for review.
East Africa’s first billionaire Sudhir Ruparelia buys Lotis Towers from dfcu Bank
The acquisition of Lotis Towers, a 14-storied upscale building located at plot 16 MacKinnon Road, Nakasero, was confirmed by Sudhir Ruparelia himself following a bank auction.
South African billionaire Christo Wiese’s Shoprite shares rebound above $900 million
With his Shoprite stake now reapproaching the $1-billion mark, Wiese remains a billionaire, with his net worth likely exceeding $1.2 billion.
Zimbabwean tycoon Ken Sharpe’s WestProp begins development of $300-million mixed-use estate
The development encompasses an 18-hole championship golf course modeled after those used on the PGA Tour