Nigerian billionaire Femi Otedola’s Geregu Power reports $26 million profit in 2024
This robust result follows a history of consistent financial success, positioning the company at the forefront of Nigeria’s power sector.
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Nigeria’s richest banker Jim Ovia gains $11.6 million as Zenith Bank completes public offer
This increase highlights the strong performance of the Lagos-based lender and the confidence investors have in its prospects.
Forbes ranks two U.S. Black billionaires above Nigeria’s richest man, Aliko Dangote
While Forbes values Dangote’s wealth at $10.6 billion, Bloomberg’s estimate at $27.2 billion includes his stake in the Dangote Oil Refinery.
French giant buys Guinness Ghana, two years after acquiring glass maker from Algerian businessman
This move is part of Castel’s broader strategy to expand its presence across Africa, having already established itself in North, West, and Central Africa.
Ally Edha Awadh: The Tanzanian entrepreneur behind Dar es Salaam-based Lake Group
From flipping burgers in Canada to leading one of East Africa’s largest energy conglomerates, Ally Edha Awadh’s journey is a story of vision, hard work, and adaptability.
U.S.-Nigerian telecom executive Sam Darwish’s IHS stake rebounds above $45 million
Darwish's recent gains highlight his ability to adapt and make strategic decisions that enhance IHS Holding’s position in the global telecom market.
Safaricom, led by Peter Ndegwa, seeks approval for Kenya’s first telco-owned submarine cable
The Nairobi-based telco company has applied to the Communications Authority of Kenya (CA) for a Submarine Cable Landing Rights Licence.
Africa’s richest man to gain indirect stake in Kenya’s largest fast-food chain after Actis sale
The deal, valued at an undisclosed amount, is awaiting approval from the COMESA Competition Commission.
South Africa’s Ackerman family faces $20 million loss on Pick n Pay shares
The family’s stake, previously valued at R4 billion ($213.8 million), now stands at R3.62 billion ($193.95 million).
Aradel, led by Nigerian businessman Ladi Jadesimi, reports $160 million profit in 2024
This milestone secured it a spot as one of Nigeria’s most profitable companies, showcasing a dramatic 361.1 percent increase in profitability compared to the prior year.
10 assets owned by Kenya’s largest landholders, Kenyatta family
Driven by the vision for Kenya’s development, the Kenyattas have strategically invested in sectors crucial to the nation’s growth, from infrastructure to agriculture.
Egyptian tycoon Abdallah Sallam’s Madinet Masr seals $9.5-million Taj City deal
As part of the agreement, Korra Energy will lead the construction of a showroom in Tajed, a key component of Taj City’s broader mixed-use development.
Shoprite, backed by South African billionaire Christo Wiese, posts $6.8 billion in half-year sales
The group’s South African supermarket division, which accounts for 83.7 percent of total revenue, recorded a 10.4 percent increase in sales, reaching $5.7 billion.
South African billionaire Michiel Le Roux faces $164.5 million loss from Capitec share drop
This decline has reduced the market value of his stake to $2.05 billion as the bank contends with broader market challenges.
Egyptian billionaire Sadek El-Sewedy's stake in electric giant nears $930 million
Sadek El-Sewedy’s stake in Elsewedy Electric has surged to nearly $930 million, reflecting strong investor confidence and stock price growth.
Durban-based FMCG giant, chaired by Geraldine Fraser-Moleketi, sells stake in Chile's Carozzi for $240 million
The deal is part of Tiger Brands’ efforts to refocus its operations and prioritize its core market in Southern Africa.