Hassanein Hiridjee’s AXIAN Group completes stake acquisition in Ivorian insurance startup
The acquisition, finalized in mid-July 2024, positions AXIAN as WiASSUR’s second-largest shareholder and grants the conglomerate a governance role.
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Prosus, linked to South African billionaire Koos Bekker, offloads $743 million worth of Trip.com shares
Prosus N.V. has grown into a leading global consumer Internet group. The transaction gives Prosus liquidity to focus on higher-growth areas in its portfolio.
Nigerian billionaire Femi Otedola’s wealth grows by $400 million despite naira devaluation
Otedola’s net worth has surged by $400 million since the start of 2024, increasing from $1.1 billion to $1.5 billion, according to Forbes.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods expands pasta production with strategic FAVA deal
The agreement will see BUA Foods more than double its current output from 400,000 tonnes to 900,000 tonnes per year.
Diddy’s legal battles prompt asset sales as he remains in custody
Combs was arrested last week and remains in custody after twice being denied bail.
Greek tycoon John Coumantaros secures approval to buy out minority stakeholders in Flour Mills of Nigeria
Excelsior Shipping, linked to Coumantaros, has secured a court order to convene a Court-Ordered Meeting, during which shareholders will vote on the proposed scheme.
Jay-Z pledges $250 million in grants to boost Times Square Casino bid
Jay-Z pledges $250 million in grants to support Hell’s Kitchen and boost his Times Square casino bid.
LeBron James' SpringHill Co. partners with Mediawan to expand global productions
James' SpringHill Co. partners with Mediawan to co-produce film and TV projects for international markets.
Egyptian billionaire Naguib Sawiris expands Orascom's gold mine investments to $1.5 billion
Billionaire Naguib Sawiris expands Orascom's gold investments to $1.5 billion amid rising global demand from China and Russia.
Vista Equity, under America’s second-richest Black billionaire, joins Blackstone in $8.4-billion Smartsheet deal
This acquisition is expected to deliver substantial value to Smartsheet’s shareholders and aligns seamlessly with the investment strategies of both firms.
Aspen’s 20-percent stock decline costs South African tycoon Stephen Saad nearly $160 million
Saad's wealth drops by nearly $160 million after Aspen Pharmacare's shares tumble 20.17 percent over the past 25 days on the JSE.
Banker John Quinn drives Nedbank’s Africa expansion amid 69-percent debt deal surge
Nedbank is reorganizing its investment banking unit to target Africa’s growing debt market.
8 companies owned by Nigerian business mogul Cletus Ibeto
Ibeto's business empire spans multiple industries, including cement manufacturing, petrochemicals, auto parts, real estate, and hospitality, cementing his role as a top Nigerian entrepreneur.
Aliko Dangote, Africa’s richest man, to open family office in Dubai amid wealth protection shift
The move comes as Dangote, 67, continues to expand his industrial empire, which includes cement, sugar, fertilizer, and a newly operational $20-billion oil refinery in Lagos.
South African tycoon Andre du Plessis sees Capitec Bank stake rise above $160 million
Du Plessis’ stake in Capitec Bank now above $160 million, thanks to $10.49-million gain in 18 days.