Safaricom reports mixed results for H1 2025, faces challenges in Ethiopia, Kenya
East Africa's telecom giant, Safaricom, sees revenue growth but faces profitability hurdles.
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TMG reports $9.4 billion in sales, fueled by booming demand for luxury real estate
TMG Holding's SouthMED and Benan projects fuel $9.4 billion in sales, showcasing the strong demand for luxury coastal living in Egypt and Saudi Arabia.
Marvin Ellison’s Lowe’s shares dip below $200 million
This decline contrasts with a previous gain of $30.1 million between Sept. 6 and Oct. 18.
Pick 'n Pay plans to open 100 new stores by 2026 as part of expansion strategy
The retailer, partly owned by the South African billionaire Ackerman family, is positioning itself for a recovery following previous financial setbacks.
Flour Mills reports $1.01 billion in revenue for H1 2025
FMN's revenue surged 75.98 percent, climbing from N964.6 billion ($576.26 million) in the same period last year to N1.7 trillion ($1.01 billion).
Alex Karp’s $5.9-billion fortune secures spot as third-richest Black billionaire in U.S.
Karp’s fortune grew by $430 million within 24 hours, marking a significant uptick from $5.47 billion to $5.9 billion, according to Forbes.
Startupbootcamp, Ashish Thakkar launch $250-million fund for African startups
The fund targets key African tech hubs, including South Africa, Nigeria, Kenya, Ivory Coast, and Egypt.
Quinton van Rooyen’s stake drops $3.9 million amid JSE decline
Van Rooyen, the company’s largest shareholder with 377.2 million shares, has lost R67.9 million ($3.9 million) in market value this year.
Palm Hills expands stake in Egypt’s hospitality sector with Macor Hotels deal
Palm Hills raises stake in Macor Hotels to 69.5%, strengthening its presence in Egypt’s hospitality sector amid tourism growth.
Christo Wiese’s stake in Shoprite rises by $115 million in 13 days
South African billionaire Christo Wiese’s stake in Shoprite has increased by $115.84 million, strengthening his position among Africa’s wealthiest.
Jannie Mouton's Capitec Bank stake hits $1-billion milestone
Over the past 12 weeks, Mouton’s stake has increased by R3.02 billion ($173.13 million), rising above the $1-billion mark.
BP, Vitol, Trafigura drive sales at Dangote Oil Refinery, redefining Africa’s oil market
British oil giant BP, Swiss-based Vitol, and Singapore’s Trafigura lead sales from the Dangote Oil Refinery as Africa’s largest oil plant reshapes market.
Karooooo shares drop, leading to $107-million loss for Zak Calisto
South African tech mogul Zak Calisto faces wealth decline amid Karooooo share drop.
Funke Opeke exits MainOne after $320-million deal as Equinix focuses on growth
Funke Opeke steps down after 14 years as MainOne's CEO following a milestone $320 million acquisition by Equinix.
Mohammed Dewji to close 2024 with $300-million gain despite headwinds
This boost in fortune solidifies his place as East Africa's richest individual and places him as the 1,882nd wealthiest person globally.
Palantir delivers $2-billion revenue in 9M 2024
Revenue for the first nine months of 2024 climbed to $2.04 billion, up from $1.62 billion) in the prior year period.