Brett and Mark Levy's Blu Label warns earnings will crater more than 80%, but only on paper
Blu Label, led by tycoons Brett and Mark Levy, expects earnings to fall more than 80% and swing to a loss for the year.
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Kenyan tycoon Paul Ndung'u's Car & General stake soars past KSh 1.6 billion in NSE rally
Kenyan tycoon Paul Ndung'u's stake in Car & General has gained about KSh 1.5 billion after the motorcycle and finance group's shares rallied nearly 885%.
Elon Musk's SpaceX turns Alphabet's $900 million investment into $94 billion, a 100-fold return in 10 years
Alphabet's $900 million bet on SpaceX in 2015 has grown more than 100-fold to $94 billion, making Google's parent the largest single institutional holder of Elon Musk's rocket company.
Africa Finance Corporation takes equity in Aliko Dangote's refinery after recovering its $300 million loan
Africa Finance Corporation has taken equity in Aliko Dangote's oil refinery through its $2.5 billion placement, months after the refinery repaid a $300 million loan.
South African billionaire Christo Wiese says the infamous Stellenbosch Mafia controls nothing
Christo Wiese told a conference that members of the so-called Stellenbosch Mafia may be mafiosi but control nothing in South Africa.
Inside the multimillion-dollar Priam Group, the Nigerian conglomerate Atiku Abubakar owns
Atiku Abubakar folded a lifetime of companies into Priam Group in 2019, spanning manufacturing, media, banking, education and food processing.
Egyptian billionaire Hisham Talaat Moustafa's TMG books $3.4 billion of sales in a single quarter
Hisham Talaat Moustafa's TMG lifted half-year net profit 23% and booked $3.4 billion of contracted sales in the second quarter alone.
Burkinabè billionaire Mahamadou Bonkoungou won $1.2 billion of Gabon contracts in three years
Mahamadou Bonkoungou's Ebomaf claims more than 700 billion CFA francs of Gabon public contracts, a figure no state body has verified.
South African billionaire Rob Hersov calls the country uninvestable and is investing anyway
Rob Hersov told a conference South Africa is uninvestable because of its illicit economy, while backing three new local ventures.
Nigerian tycoon Wale Tinubu is drilling 62 wells to more than double Oando's output
Oando's Wale Tinubu has identified 62 development wells to lift output to 100,000 barrels of oil equivalent a day from 42,789.
South African billionaire Patrice Motsepe says only an election can remove FIFA's Infantino
CAF president Patrice Motsepe says FIFA's 211 members should decide Gianni Infantino's future at the ballot box, not his critics.
Nassef Sawiris's Aston Villa set to reject Arsenal's £40 million bid for Ezri Konsa
Egyptian billionaire Nassef Sawiris's Aston Villa is set to reject Arsenal's £40 million offer for defender Ezri Konsa, who is reportedly open to the move.
Kenyan politician Musalia Mudavadi is paying $29 million to buy back insurers he sold Barclays
An investment firm linked to Kenya's Prime Cabinet Secretary Musalia Mudavadi is buying Absa's stakes in two insurers for at least $29 million.
South African tycoon Adrian Gore sets out the four principles behind Discovery's rise
Discovery founder Adrian Gore has published a book on leadership endorsed by BlackRock's Larry Fink and Alphabet's Ruth Porat.
Ugandan tycoon Amos Nzeyi is still farming land he sold to the state pension fund in 2008
Uganda's Parliament has summoned Pepsi bottler Amos Nzeyi over 55 acres he sold the state pension fund in 2008 but never handed over.
How Isaiah Stewart turned NBA toughness into a multimillion-dollar fortune
Detroit Pistons big man Isaiah Stewart turned a reputation as one of the NBA's toughest enforcers into a fortune of about $8 million to $10 million.