Egyptian Egyptian businesswoman Hend El-Sherbini’s IDH posts $84.5-million revenue in 2023
El-Sherbini added that IDH’s core markets of Egypt and Jordan displayed strong growth, indicating further potential.
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Kenya’s richest banker James Mwangi loses $3.3 million from stake in Equity Group
Mwangi, Kenya’s richest banker, holds a 3.38-percent stake in Equity Group. This equates to 127,809,180 ordinary shares.
Africa’s richest person Aliko Dangote’s refinery slashes diesel prices in Nigeria
The recent price cut follows the commencement of operations at the Dangote Oil Refinery, a landmark achievement for Nigeria’s pursuit of energy independence.
African-American billionaire Alex Karp’s loses $100 million in 16 days
The decline in Karp’s fortune comes despite Palantir achieving impressive milestones under his leadership.
Nigerian tycoon Atedo Peterside loses $3.4 million from Stanbic IBTC stake
While Peterside faces a significant decline in his stake in Stanbic IBTC, he remains poised to benefit from impressive dividends proposed by the leading Nigerian bank.
South African billionaire Koos Bekker’s Prosus backs Sydney startup in $33-million raise
Prosus, a global consumer internet group founded in 1997 under South African billionaire Koos Bekker’s leadership, has become one of the world’s largest technology investors.
South African tycoon Gus Attridge gains $7.95 million from Aspen shares
The latest bump in his fortune comes on the heels of previous gains between Feb. 12 and March 24, when his stake in Aspen grew by R447.12 million ($25.12 million).
Nigerian energy tycoon Austin Avuru-linked Seplat generates $1.7-billion cash flow in last decade
Since its IPO on the Nigerian Exchange and London Stock Exchange in 2014, Seplat Energy has generated $1.7 billion in cash flow.
Kenyan tycoon Narendra Raval’s Devki Group secures $32.7-million credit facility
The news of this substantial credit facility coincides with Narendra Raval’s decision to shift a significant portion of Devki Group’s business accounts to Stanbic Bank Kenya.
U.S.-Nigerian telecom tycoon Sam Darwish loses $6 million as IHS shares plunge
The recent double-digit decline in IHS Holdings shares has led to a $6-million decline in the market value of Darwish’s stake in the leading telecom infrastructure giant.
Namibian tycoon Quinton van Rooyen’s Trustco enters $100-million partnership with RVF
The partnership aligns with Trustco’s active pursuit of new capital sources, particularly in the wake of the decline in its market capitalization in recent years.
Moroccan tycoon Lamia Tazi gains $2 million from Sothema stake in 8 days
The notable increase in the market value of Tazi’s stake in Sothema solidifies her position among the richest investors on the Casablanca bourse.
Algerian-born French entrepreneur Sue Nabi loses $83.6 million from Coty stake
Despite the decline, Nabi remains a key player in the beauty industry. As Coty’s CEO, her visionary leadership continues to significantly impact the global beauty landscape.
Swazi billionaire Natie Kirsh’s net worth slumps by $260 million
The $260-million decline in his fortune is attributed to the performance of his 75-percent stake in Jetro Holdings, a New York-based consumer goods holding company.
South African exec Shameel Joosub-led Vodacom concludes $26.7 million acquisition of Smile Communication
In a public announcement, Vodacom Tanzania emphasized the strategic significance of the acquisition in enhancing its network infrastructure and delivering superior services to its customers.
Nigerian tycoon Tony Elumelu-linked power company pays off foreign currency loan
With a strong revenue and profit trajectory, Transcorp Power remains well-positioned for continued growth and innovation within Nigeria’s energy sector.