Glencore weighs shock London delisting under South African executive Gary Nagle
Glencore’s review comes amid mounting concerns over the attractiveness of the LSE, where UK equities have traded at a persistent discount.
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Sibanye, led by South African tycoon Neal Froneman, strikes chrome management deal with Glencore
The deal will see Glencore’s joint venture with Merafe Resources oversee Sibanye’s chrome recovery plants in South Africa.
Nigeria’s Sijuwade royal family, one of Africa’s wealthiest, eyes first oil from one of its oil blocks
The Sijuwade Group’s oil and gas arm holds a 10 percent stake in OPL 276, where production is slated to begin within the next 12 to 18 months.
South African executive Mpumi Zikalala led-Kumba Iron Ore to reward shareholders with $347 million
Kumba Iron Ore declares R19.9 ($1.08) per share final dividend for fiscal year 2024, despite a 20.53% revenue decline and ongoing logistics challenges.
NNPC acquires stake in $7 million CNG Plant owned by Nigerian businessman Greg Ogbeifun
NNPC acquires a 15% stake in Starzs Gas’ $7 million CNG plant, strengthening Nigeria’s clean energy drive, domestic gas expansion, and industrial development.
Algerian-born French tycoon Sue Nabi’s stake in US beauty giant declines by $64 million
The recent decline has pushed the market value of her stake below $180 million.
Nigerian oil mogul Jite Okoloko exits Eroton following major board shake-up
His exit comes amid a major board reshuffle led by political and business heavyweight James Ibori, signaling a new chapter for the company.
Court rules against Herbert Wigwe’s parents in legal battle over Nigerian banker’s estate
Lagos court rejects parents’ bid to challenge control of late Nigerian banker Herbert Wigwe’s estate, upholds existing structure including first daughter Otutochi.
Egyptian tycoon Ibrahim Al Organi backs $5 billion mega project, steering Organi Group’s bold expansion
The consortium aims to take on large-scale projects across Egypt and beyond, targeting $500 million in business volume in its first year.
South African billionaire Koos Bekker’s net worth climbs to $3.2 billion as Tencent adds DeepSeek AI to WeChat
The $200-million windfall is tied to Bekker’s stakes in Africa’s most valuable company, Naspers, and its Amsterdam-based subsidiary, Prosus.
South African exec. Duncan Wanblad-led Anglo American announces nickel business sale for up to $500 million
Anglo-American, led by South African executive Duncan Wanblad, has agreed to sell its nickel business to MMG Limited for up to $500 million.
Basil El-Baz: Egyptian tycoon behind $10.8 billion petrochemical revolution
More than two decades into his career, Basil El-Baz has not only built billion-dollar ventures but has also reshaped Egypt’s petrochemical industry.
Botswana businessman Duncan Lewis’ CA&S Group acquires stake in Tradco, expanding East African presence
CA&S Group expands in East Africa with a 35% stake in Tradco, strengthening its FMCG presence and positioning for long-term market growth.
Mauritian businessman Arnaud Mayer’s Evaco Group reports $1.2 million loss in H1 2024
Revenue dropped from MUR347.94 million ($7.5 million) to MUR232.4 million ($5 million), while finance costs surged to MUR63.1 million ($1.36 million).
Wealthy Black executive Marvin Ellison’s Lowe’s investment dips below $200 million
Over the last 21 days, Ellison’s shares in Lowe’s, amounting to 748,000 shares, declined by more than $12 million.
Africa's richest man’s biggest bet: The $23 billion investment in Dangote Refinery
Reflecting on the decade-long journey to completion, Dangote told Forbes, “If this didn’t work, I was dead.”