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Lebashe sits on $2.5 billion of Capitec shares — bought with borrowed money and pledged to two banks as collateral. The week Dangote's fortune jumped $23 billion on a filing, it's the counter-lesson: a headline number and a real fortune are not the same thing. Gross vs. net.
Naushad Merali built one of Kenya's great fortunes buying troubled companies cheap and selling high — most famously turning a mobile venture into a windfall worth hundreds of millions. He died in 2021. This week his heirs stepped back toward manufacturing. Can the gift be inherited?
Larry Ellison has spent decades borrowing against Oracle shares rather than selling. He now plans to sell up to $7.5 billion of them by Oct. 24.
Larry Ellison adopted a 10b5-1 plan in June to sell up to 50 million Oracle shares through Oct. 24, worth about $7.5 billion at current prices.
Remgro, chaired by South Africa's Johann Rupert, expects headline earnings per share to rise between 37% and 47% for the year to June.
Larry Ellison’s Oracle has reached $664 billion in remaining performance obligations as demand for AI cloud infrastructure drives record growth in its contracted revenue.
Billionaire Mukesh Ambani’s Reliance Industries plans to raise $1.31 billion through five-year rupee bonds, its first domestic bond sale since November 2023.
Shanghai Enflame has fewer than 900 staff, one major customer and has never turned a profit in eight years. Its two founders, both ex-AMD engineers, are now worth $2.1 billion each and their biggest customer is also their biggest shareholder.
Dangote refinery has secured at least 16 million barrels of Nigerian crude for October, roughly 520,000 barrels a day. Feedstock supply is the question facing investors when the $1.55 billion offer opens on Monday.
Lego abandoned its attempt to make bricks from recycled bottles in 2023 because it raised emissions. The family office behind the company is now doubling a $1.6bn climate fund and putting money into the recycling industry instead.
Zambia's president has urged Anil Agarwal's Vedanta to accelerate power investment to support its copper expansion at Konkola Copper Mines.
The company Tiger Woods built with Rory McIlroy is finalising a round that values it above $1 billion, double its mark two years ago. It runs TGL, launches a women's league in November, and is building the NFL's flag football league.
The family of the late Naushad Merali is taking half of a pharmaceutical glass plant at Mombasa's Dongo Kundu economic zone.
Dangote Sugar's share count has risen by two-thirds after 8.1 billion new shares from its rights issue were listed in Lagos. The N485.9 billion raised was meant to cut debt that stood at more than four times equity, but the proof will not appear until the next quarterly accounts.
Billionaire Alex Beard, the former head of oil at Glencore, has pleaded not guilty to UK bribery charges linked to alleged corrupt payments involving officials in Nigeria and Cameroon.
Samsung chairman Lee Jae-yong will buy $1.4 billion of shares from his mother Hong Ra-hee, who borrowed to pay a record inheritance tax bill.