Nigerian banker Jim Ovia gains over $38 million from Zenith Bank stake
This gain comes as the bank’s shares have risen steadily on the NGX, reflecting growing investor confidence in Zenith Bank’s performance.
Black billionaire Robert F. Smith’s Vista secures $5.6 billion to invest in cloud software
The technology-focused firm raised $2.7 billion in fresh capital, alongside $2.2 billion from existing flagship funds.
South African billionaire Koos Bekker-led Prosus plans to double revenue by 2028
The company’s CEO, Fabricio Bloisi, announced this ambitious growth plan during Prosus’s Capital Markets Day on Wednesday.
South African billionaire Jannie Mouton gains $37 million from Capitec shares
Capitec’s stock surge boosts Mouton’s fortune and reaffirms investor confidence in South Africa’s leading retail bank.
South Africa’s Ivan Saltzman transfers nearly $400 million in Dis-Chem shares to sons
The move involves 217 million shares held via Ivlyn Local Investment Holdings, an investment vehicle controlled by the Saltzman family.
South African tycoon Giovanni Ravazzotti gains $18 million from Italtile stake
Giovanni Ravazzotti gains $18 million in four days as Italtile shares rebound, lifting his stake to nearly $420 million despite year-to-date losses.
Egyptian billionaire Yasseen Mansour loses $6 million from Palm Hills stake
Yasseen Mansour loses $6 million as Palm Hills shares drop nearly 11%, exposing real estate risks amid Egypt’s economic volatility
Pick ‘n Pay, backed by Ackerman family, fuels retail recovery in South Africa
The group’s portfolio optimization reflects a growing trend toward efficiency and modernization in South African retail.
Barry Swartzberg’s Discovery stake declines by $10 million
In just 16 days, his stake declined from $318.68 million to $308.54 million, tracking a 3.18-percent drop in Discovery’s stock.
Otedola's FirstHoldCo pumps nearly $10 million into cybersecurity defenses
The bold move underscores the group’s commitment to safeguarding customer assets amid rising cyberattacks targeting financial institutions across Nigeria.
Zenith Bank, led by Adaora Umeoji, plans forbearance exit in first half of 2025
The lender disclosed this in a statement filed on the NGX on Wednesday, reaffirming its commitment to meeting all supervisory requirements.
Elon Musk's SpaceX to invest $28 million to expand Starlink in South Africa
The proposed investment aims to provide free high-speed broadband connectivity to 5,000 rural schools, reaching 2.4 million children nationwide.
Aliko Dangote's refinery to begin nationwide fuel distribution in August
It is ready to deploy 4,000 new Compressed Natural Gas (CNG)-powered tankers to enhance last-mile delivery and fuel accessibility across Nigeria.
British-Nigerian entrepreneur Ladi Delano's Moove eyes unicorn status
The fresh capital comes on the heels of Moove’s $100 million raise in 2024 at a $750 million valuation.
Malawian banker Hitesh Anadkat makes $73 million from FMB Capital stake
Hitesh Anadkat holds a 45.32-percent stake in the Mauritius-headquartered financial group, equivalent to 1.11 billion shares.
Hisham Talaat Moustafa’s TMG eyes $2.4 billion in sales from Sharm Bay project
The project, located near Sharm El-Sheikh, reflects the group's growing focus on high-end tourism and residential investments.