Capitec stock falls, South African billionaire Michiel Le Roux loses $70 million
Michiel Le Roux loses $70 million as Capitec Bank stock falls, but his $2.5 billion stake still signals long-term strength.
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Egypt’s second-richest man, Naguib Sawiris, is $2 billion richer this year
Naguib Sawiris adds $2 billion to his net worth, nears $9 billion with new investments in clean energy and mega real estate projects.
Neal Froneman-led Sibanye, Gwede Mantashe face off over US mining deal
The initiative—intended to reset strained trade ties—was presented to President Cyril Ramaphosa ahead of his May 21 meeting with U.S. President Donald Trump.
Elsewedy Electric, led by Egypt's billionaire El-Sewedy family, posts $2.68 billion in first-half revenue
Elsewedy Electric posts $2.68 billion half-year revenue, up 20.6% y-o-y, driven by strong performance across wires, cables, and construction segments.
Afreximbank backs $4 billion refinancing loan for Aliko Dangote’s refinery
The deal forms part of a broader $4 billion syndicated loan package aimed at refinancing earlier capital costs tied to the construction of the $20 billion refinery.
Malawian businessman Thom Mpinganjira’s FDH Bank agrees to buy Ecobank Mozambique
Custodian Investment reports $81.4 million revenue, $17.3 million profit, and $299 million in assets for the first half of 2025.
15 Black celebrities who own sports teams
Black celebrities are taking ownership—literally—by investing in sports teams worldwide, from football clubs to NBA franchises, redefining power and presence in the global sports arena.
Tanzanian billionaire Rostam Aziz urges government to prioritize local investors in national projects
Rostam Aziz urges Tanzania to prioritize local investors over foreign capital to strengthen economic self-reliance and build domestic industrial capacity.
Shoprite, backed by South African billionaire Christo Wiese, posts $14.6 billion in annual sales
Shoprite’s annual sales rose to $14.6 billion, led by South African supermarket growth, digital expansion, and structural shifts across its portfolio.
South African multimillionaire Ackerman family steps back from Pick n Pay leadership
South African multimillionaire Ackerman family ends control of Pick n Pay after $171 million loss triggers leadership shakeup.
South African billionaire Rob Hersov’s podcast remarks spark race-relations backlash
South African businessman Rob Hersov's podcast comments about race and history have reignited debate over inflammatory rhetoric and its impact on public discourse.
South African banker Jason Quinn-led Nedbank to offload Ecobank shares worth over $100 million
The South African bank confirmed that the stake, classified under IFRS 5 as a non-current asset held for sale, has a market value of R1.9 billion ($105.8 million).
John Copelyn leads HCI gas push to address South Africa’s energy crisis
John Copelyn-led HCI advances plans to develop South Africa’s top offshore gas find, aiming to ease the country’s deepening energy crisis.
Nigerian energy tycoon Ademola Adeyemi-Bero’s First E&P pursues Tanzanian gas opportunity
Ademola Adeyemi-Bero'S Nigeria’s First E&P is expanding into Tanzania’s gas sector, part of a broader push by Nigerian companies to grow beyond West Africa’s oil fields.
Femi Otedola’s ‘Making It Big’ draws praise from WTO’s Okonjo-Iweala and AfDB’s Adesina
Femi Otedola’s memoir earns praise from Okonjo-Iweala and Adesina for its honest take on business, failure, and lasting success.
South African billionaire Christo Wiese-backed Pepkor sees $226 million stake sold
The disposal, confirmed by Pepkor in a shareholder notice on Aug. 4, reflects a swift strategic retreat from its initial 8.51 percent holding.