Malawian insurance mogul Vizenge Kumwenda gains $10.8 million from NICO stake
Beyond his investment in NICO Holdings, Kumwenda also owns a 0.17-percent stake in NBS Bank, valued at MWK1.73 billion ($1 million).
Nigerian tycoon Kessington Adebutu’s Wema Bank plans $98.9 million rights issue
The offering includes 14.29 billion shares priced at N10.45 ($0.007) each, reinforcing the bank’s efforts to strengthen its financial position.
South African tycoon Adrian Gore’s stake in Discovery rises by $42.9 million in three weeks
The steady rise in Adrian Gore’s stake reflects growing investor confidence in Discovery.
Seplat, co-founded by Nigerian tycoon Austin Avuru, to pour $320 million into onshore expansion in 2025
The company’s capital expenditure guidance for 2025 includes between $180 million and $220 million allocated to its Seplat Onshore division.
Ethiopian billionaire Mohammed Al-Amoudi’s Preem posts $12.8 billion in 2024 revenue
The company reported lower revenue and profit for the second straight year, reflecting weaker refining margins and a challenging market environment.
South African billionaire Adrian Gore’s Discovery rakes in $377.9 million profit in H1 2025
The solid performance came despite a tough economic climate, driven by growth in its core businesses, customer acquisition, and steady global expansion.
South African gov’t engages ArcelorMittal SA, linked to Noluthando Gosa, to prevent steel plant closure
The discussions follow failed rescue efforts and mounting financial pressure on the company.
South African billionaire Jannie Mouton’s Capitec stake dips below $1 billion
Jannie Mouton’s Capitec Bank stake, which was valued at $1 billion on Feb. 26, has now dropped to $979.41 million.
Egyptian tycoon Hani Berzi’s Edita Foods stake surges past $170 million
His stake's market value has climbed by $5.75 million, reversing some of the sharp declines recorded earlier this year.
Absa, led by Sello Moloko, strikes deal to expand South Africa’s mobile marketplace for farmers
The investment aims to improve agricultural efficiency and expand market access in one of Africa’s most crucial sectors.
Ninety-One raises bet on mining firm of Africa’s first Black billionaire, stake tops $80 million
The move boosts Ninety One’s stake from 3.5 percent to 5 percent, reinforcing its investment strategy even as the miner reports its weakest earnings in seven years.
ArcelorMittal South Africa, tied to Noluthando Gosa, to end long steel production by April
After prolonged discussions with authorities, ArcelorMittal SA said it had no choice but to move forward with the shutdown.
Oil firm led by Nigerian President’s nephew wins bid for Caribbean refinery
The move positions the oil company for deeper integration into the Caribbean’s refining sector, strengthening its international footprint.
Egyptian tycoon Ahmed El-Sewedy’s electric firm to build Hungary’s largest power plant in decades
This marks a significant step in Elsewedy Electric’s expansion into Europe, reinforcing its presence in the global energy infrastructure market.
Glencore, led by South Africa’s Gary Nagle, wins $120 million payout in Nigerian LNG battle
The legal dispute underscores escalating tensions in global LNG markets, as suppliers and traders grapple with post-2022 contract enforcement challenges.
Standard Bank, led by South African banker Sim Tshabalala, unveils $397 million boost for SMMEs
The move is set to widen credit access, stimulate job creation, and bolster economic resilience.