Cummins linked to Black executive Sharon Barner to invest $1 billion to bolster manufacturing presence
Cummins steams ahead with strong financials and executive leadership.
Egyptian billionaire Yasseen Mansour loses $12 million from Palm Hills stake
Despite this setback, Mansour remains a prominent figure in the African business scene. Forbes estimates his current net worth at $1.2 billion.
Aga Khan IV’s stake in Nairobi-based insurer nears $40 million
As investors renew their interest in Jubilee Holdings on the Nairobi Security Exchange, Aga Khan IV’s investment in the company continues to yield substantial gains.
Top Black CEO Marvin Ellison’s shares in Lowe’s reaches $55 million
The recent $4.31-million surge in Ellison’s stake in Lowe’s further cements Ellison’s position as one of America’s richest Black CEOs and one of the world’s leading executives.
Egyptian billionaire Samih Sawiris’ company to construct Africa’s largest skate park
Construction of Africa’s largest skate park is slated to commence later this year, with the grand opening scheduled for 2025.
African-American tech billionaire Alex Karp’s wealth surges $300 million in 3 weeks
Karp’s position among Black billionaires underscores the success of African-American entrepreneurs within the tech sector.
South African businessman Jannie Mouton gains $33 million from Capitec stake
This significant rise in Mouton’s stake reinforces his standing as one of the most affluent investors on the Johannesburg Stock Exchange
South African billionaire Christo Wiese gains $46.9 million from Shoprite shares
The recent multimillion-dollar increase in the market value of his stake can be attributed to increased investors’ interest in the retail giant.
Nigerian tycoon Tony Elumelu launches Heirs Technologies to lead digital transformation in Africa
Heirs Technologies is set to play a pivotal role in shaping Africa’s digital future. The launch signifies a crucial moment in the continent’s technological advancement.
Moroccan real estate mogul Alami Lazraq gains $22.8 million as ADI shares surge
Lazraq’s stake in ADI has experienced a substantial increase of MAD229.92 million ($22.87 million) in the last 25 days, attributed to the rise in the company’s shares.
Egyptian entrepreneur Mohamed Mousa leads startup to $3.2-million seed funding success
The funding secured during the LEAP 2024 conference signifies a crucial step for dKilo in its mission to transform OOH advertising.
South African tech mogul Zak Calisto gains $41.7 million from Karooooo stake
This rise comes on the heels of a significant setback, where Calisto experienced a $26.41-million loss between Feb. 12 and Feb. 23.
Egyptian billionaire Hisham Talaat Moustafa faces $727-million loss due to devaluation
Despite the setback and financial challenges, Moustafa remains a prominent figure in the Egyptian business landscape.
South African exec Shameel Joosub-led Vodacom launches digital skills initiative to combat youth unemployment
The initiative aims to provide free access to digital training courses through the newly unveiled Mzansi Digital Learning platform.
South African billionaire Saltzman Family gains $41 million from Dis-Chem shares
Thanks to the recent upswing in Dis-Chem’s shares, the Saltzman family’s stake in Dis-Chem has surged by R776.36 million ($41.42 million) since Feb. 19.
Malagasy tycoon Hassanein Hiridjee’s Axian Telecom maintains resilient ratings despite operational hurdles
Under the leadership of Hiridjee, Axian Telecom has achieved remarkable growth since 2015, ranking as Africa’s seventh-largest mobile operator.