Nigerian billionaire Abdul Samad Rabiu’s food business records $261-million revenue in Q1 2024
Revenue growth was fueled by a significant increase in sugar sales. the strong performance expands its lead as Nigeria’s top food conglomerate.
Nigeria’s richest banker Jim Ovia’s Zenith Bank gets shareholder nod for holding company plan
This strategic shift positions Zenith Bank to adapt and thrive in the ever-evolving financial services ecosystem, solidifying its position as a leader in innovation and value creation.
South African tycoon Adrian Gore’s Discovery stake surges by more than $37 million
The single-digit percent uptick in Discovery shares has boosted the market value of Gore’s stake by R697.27 million ($37.42 million) in the past 10 days.
South African billionaire Michiel Le Roux gains $100 million in 41 days
The recent uptick in his fortune can be attributed to the performance of his 11.39-percent stake in Capitec Bank.
Sibanye-Stillwater stumbles under South African tycoon Neal Froneman with $132-million loss in 2023
The $132.1-million loss stemmed from writedowns on subsidiary investments totaling $2.27 billion under Froneman, reflecting lower prices for platinum, palladium, and rhodium.
Egyptian tycoon Hassan Allam’s group wins signaling contract for UAE-Oman railway link
The 303-kilometer Abu Dhabi-Sohar railway link will feature state-of-the-art, desert-proof ETCS Level 2 signaling, telecoms, and power supply systems.
Dangote’s half-brother Sayyu Dantata’s MRS tops $60 million in revenue in Q1 2024
Revenue for the first three months of 2024 climbed to N79.16 billion ($62.6 million), up from N30.78 billion ($23.83 million) in the prior-year period.
Africa’s richest man boosts regional growth with seven clinker vessels to Ghana, Cameroon
In the first quarter of 2024, Dangote Cement’s Nigerian operations shipped a total of 178,000 tonnes of clinker to Cameroon and Ghana.
Kenneth Frazier’s Merck holdings rebound, surpassing $90 million amid stock rally
Frazier’s holdings in Merck took a hit earlier this month, but a recent surge in the company’s share price has recouped those losses.
Kevin Hart’s tequila brand gives $1 million to help small businesses
Acclaimed African-American comedian and entrepreneur Kevin Hart’s ultra-premium tequila brand, Gran Coramino Tequila, has disbursed over $1 million in grant funding to…
Egypt’s richest man Nassef Sawiris’ net worth soars by $410 million in 9 days
The unexpected surge catapults Sawiris nine spots on the Bloomberg Billionaires Index, from 300th to 291st.
Cement company of Africa’s richest man doubles revenue to $659.3 million in Q1 2024
Group revenue from cement, clinker, and other products surged 100 percent year-over-year, reaching N817.35 billion ($659.3 million).
Oprah Winfrey’s wealth hits $3 billion: Inside her $200-million gain and Hawaiian estate
Winfrey’s net worth has risen by $200 million, reaching $3 billion, according to Forbes. This marks a significant rise from $2.8 billion on Jan. 1.
Kenyan billionaire Baloobhai Patel buys big, now owns more than 1 percent of Absa Bank
Patel’s latest acquisition reflects a significant year-on-year increase in his Absa holdings. In December 2022, he held 47.57 million shares (0.88-percent stake).
South African-born tycoon Barry Stuhler gains $4.2 million from Lighthouse stake
The recent $4.23-million gain further strengthens Stuhler’s reputation not only as a high-value JSE investor but also as one of South Africa’s most affluent individuals.
Dangote’s half-brother Sayyu Dantata’s oil firm mulls Nigerian Exchange exit
Following a successful delisting, the board intends to seek shareholder authorization to list the company’s shares on the NASD OTC Securities Exchange.