Egyptian tycoon Safwan Thabet’s Juhayna secures $9.5-million credit facility
This renews a previous working capital financing arrangement signed in November 2023.
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Capitec Bank share decline costs South African billionaire Michiel Le Roux $31 million
This follows a $112.3 million loss between May 20 and June 3.
Kenyan businessman Samuel Macharia closes company, lays off employees
Earlier this year, Directline had outlined ambitious plans to diversify its product portfolio.
Africa’s richest man Aliko Dangote’s refinery pushes petrol production to mid-July
The petrochemical complex was previously scheduled to begin churning out premium motor spirit (PMS) in June.
Nigerian billionaire Femi Otedola’s energy firm targets $28.2-million revenue in Q3 2024
Geregu Power’s impressive forecast is bolstered by its plans to expand total capacity from 435MW to 1,200MW.
South African real estate tycoon Stephen Brookes faces major market losses
This loss compounds the $2 million loss recorded between March 20 and April 3, when his stake dipped from $17.34 million to $15.33 million.
Egyptian billionaire Hisham Talaat Moustafa’s TMG reports $1.3 billion in Q1 sales
The company’s financial health remains robust, maintaining a net cash position of EGP23.9 billion ($501 million).
Nigerian banker Aigboje Aig-Imoukhuede-led Access Holdings acquires Tanzanian bank
With the recent entry into Tanzania, Access Holdings targets local, regional, and international revenue opportunities across within the East African region.
Beyoncé’s net worth falls below $800 million, losing $40 million
Beyoncé’s music career, spanning nearly three decades as a solo artist and with Destiny’s Child, has been the cornerstone of her financial empire.
Firm backed by South Africa’s second-richest man prepares third fund for African tech startups
4DI Capital backed by South Africa’s second-richest man Nicky Oppenheimer has established itself as a prominent venture capital player in Southern and Eastern Africa.
Egyptian tycoon Hani Berzi takes $15.8-million hit in Edita stake
This setback follows earlier gains made between May 14 and 27, when the value of Berzi’s stake surged by $17.18 million.
Africa’s richest man Aliko Dangote shares how he overcame challenges to build Dangote Oil Refinery
Dangote’s refinery project represents a monumental effort to industrialize Africa and underscores his belief in the continent’s potential to drive its own development.
South African top-performing executive Paul Hanratty extends term as Sanlam CEO until 2027
Hanratty extends his term as Sanlam CEO until 2027, continuing to drive the company’s global expansion and strategic growth with significant contributions to financial performance.
Tiger Woods earns $67.2 million, ranking among highest-paid athletes in 2024
The majority of his earnings, totaling $55 million, came from off-field activities such as businesses, endorsement deals, appearances, memorabilia, and licensing.
Jay-Z’s entertainment company announces $300 million scholarship fund
This ambitious program was unveiled on June 7 and targets children from Kindergarten through Grade 12
South Africa’s richest man Johann Rupert makes $500 million in just 10 days
This solidifies his position as South Africa’s richest man and Africa’s second-wealthiest individual.