South African executive Kenny Fihla drives Absa’s retail and pan-African expansion plans
Kenny Fihla leads Absa’s retail revamp, driving digital banking growth and pan-African expansion with strong first-half 2025 results.
Egyptian billionaire Yasseen Mansour loses $10 million on Palm Hills stake
Yasseen Mansour loses nearly $10 million from Palm Hills stake as EGX shares drop, highlighting challenges in Egypt’s real estate sector.
Anglo, led by South Africa’s Duncan Wanblad, loses $3.8 billion coal deal
Peabody cancels $3.8 billion Anglo coal deal after mine fire; Anglo plans arbitration as H1 revenue falls to $8.95 billion.
Black executive Marvin Ellison gains $25 million from Lowe stake
Lowe’s CEO Marvin Ellison gains $25 million as the company’s stock jumps 16% on the NYSE, boosting his stake to $187 million.
Glencore, led by South African executive Gary Nagle, plans $13.5 billion copper expansion in Argentina
Glencore plans to inject $9.5 billion into developing El Pachón in San Juan province and $4 billion into the Agua Rica project in Catamarca over the next decade.
Nigerian oil tycoon Gabriel Ogbechie loses $6 million from Eterna stake
Eterna’s market cap slips below $35 million as Gabriel Ogbechie’s stake drops, but shares remain up 56% this year.
Madinet Masr, led by Egyptian tycoon Abdallah Sallam, negotiates Saudi land deal
The plots range between 300,000 and 500,000 square meters, Sallam said during a company roundtable on Sunday.
Oando, led by oil mogul Wale Tinubu, distributes 679 million shares to investors
Oando, led by Wale Tinubu, issues 679 million bonus shares, rewarding investors with 8.3% amid Nigeria’s oil market challenges.
Egyptian tycoon Safwan Thabet adds $81 million from Juhayna stake
Egyptian tycoon Safwan Thabet’s Juhayna stake jumps $82 million as shares rally on the EGX, lifting his fortune close to $600 million.
South African banker Sim Tshabalala to end 14-year run as Standard Bank CEO in 2027
The announcement comes even as the Johannesburg-based bank raised its executive retirement age from 60 to 63 in line with global corporate trends.
Noluthando Gosa-linked ArcelorMittal SA faces crucial decision on South African mill
The Department of Trade, Industry, and Competition (DTIC) and the state-owned Industrial Development Corp. (IDC) are exploring options to keep the plant operational.
Elsewedy Electric, owned by billionaire El-Sewedy family, to develop industrial zone in Egypt
The zone will be built to international standards and host a range of industries, including mining, engineering, chemicals, manufacturing, and food production.
Egyptian billionaire Hisham Talaat Moustafa’s TMG stake rises above $1 billion
Hisham Talaat Moustafa’s TMG shares hit $1.04 billion in value as the company’s stock climbs 8.72%, pushing market cap above $2.4 billion.
Aliko Dangote’s $20 billion refinery deploys 4,000 CNG trucks in Nigeria
The CNG-powered fleet, imported through Lagos’ Apapa Port, will support the refinery’s fuel delivery program set to launch on August 15.
French billionaire’s firm Canal+ hit as Ghana orders MultiChoice shutdown over rates
The regulator has given the company 30 days, until Sept. 8, to respond or risk losing its broadcasting license.
Nigerian billionaire TY Danjuma’s May & Baker to expand manufacturing with new facility
Nigerian billionaire TY Danjuma’s May & Baker boosts local drug production and herbal innovations with new facility.