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The Castel Group is Africa's biggest brewer outside South Africa, sells ~€7 billion a year, and almost no one has heard of it. Now the 99-year-old founder's heirs are at war with the CEO he installed — fought inside a Singapore trust, headed for a courtroom this autumn.
Nigeria rejoins FTSE's frontier index on Sept 21, sending global passive capital to ten giants — Dangote Cement, First HoldCo, MTN. But BUA, UBA and Seplat were left out on free float, not size. The paradox: the concentration that makes these owners rich keeps their companies out.
Ten Nigerian stocks join FTSE Russell's frontier index on Sept. 21, including companies part-owned by Aliko Dangote, Femi Otedola and Victor Odili.
Michael Dell has added $107 billion to his fortune this year, a gain second only to Elon Musk's, after Dell Technologies posted record quarterly results and its shares tripled on demand for AI servers. He now ranks fifth on the Bloomberg Billionaires Index.
Volkswagen's board has approved 50,000 further job cuts, doubling reductions since 2024. About half fall in Germany. The company has not said where the rest land and South Africa's Kariega plant builds every Polo in the world.
SpaceX closed 6.4% higher on Thursday, clearing $150 a share and restoring a $2 trillion market value for the first time since early July, as a broad technology rally and an Oppenheimer target increase lifted Elon Musk's rocket and satellite company.
Zulu Royal Chancellor Malusi Zondi gave Trade Minister Parks Tau five business days to explain the IDC transaction involving Tongaat Hulett.
ARM's 700-cent final dividend takes Patrice Motsepe's payout for the year to about R1.09 billion, on a holding of 91.1 million shares.
Leon Black asked a federal court to block House subpoenas seeking documents about his dealings with Jeffrey Epstein, calling them a fishing expedition.
Billionaire Binod Chaudhary’s Wai Wai business faces regulatory action in India after inspectors found alleged food safety violations at a Rajasthan factory.
African Rainbow Minerals lifted revenue 25% to R16.3 billion and swung from a gross loss to R4.4 billion profit in the year to June 30.
NCBA shareholders selling to Nedbank have gained Sh21.4 billion as the South African bank's shares rose 9.5% since the offer was set in January.
Discovery Bank made R370 million against a R68 million loss, and 70% of new customers now come from outside the wider Discovery group.
Fynbos Group bought out Ardagh Glass Packaging Africa's shares in Red Disa Investments, taking the Le Roux family to 71.5% of Stormers Rugby.
Medhat Khalil's Raya Holding cancelled the sale of Raya Foods to Helios after conditions went unmet, eight months after board approval.
President Ruto ordered Tata Chemicals to quit Kenya, saying it exported soda ash from Lake Magadi instead of processing it into glass locally.