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.
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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.
Egyptian billionaire Samih Sawiris’ tourism company in Europe files for bankruptcy
FTI has set up a hotline and website to assist customers, announcing that all trips starting June 4 will either be canceled or partially fulfilled.
Nigerian oil magnate Wale Tinubu’s Oando announces participation in $3.3-billion facility
Tinubu emphasizes ability to create value as an indigenous partner of choice in Project Gazelle as another win for Oando and Nigeria.
Ghanaian tycoon Joseph Agyepong’s Jospong Group seeks support for African businesses from South Korea
Dr. Joseph Siaw Agyepong, Executive Chairman of the Jospong Group of Companies, emphasizes the potential benefits of Ghana and Africa’s partnership with South Korea in business and development.
Egypt’s El-Sewedy family gains $88.91 million as consolidated profit in Q1 2024
Since its founding, the company has grown into a regional and international provider of energy, digital, and infrastructure solutions.
Naguib Sawiris-led Orascom Financial Holding swings to consolidated loss in Q1 2024
Orascom Financial Holding has reported a consolidated net loss of EGP 22.81 million ($479,062.20) for Q1 2024.
South African tycoon Laurie Dippenaar loses $32 million in FirstRand stake in 17 days
This decline is primarily attributed to local investors reducing their holdings in the renowned Johannesburg-based financial services provider.
Femi Otedola’s Geregu Power eyes growth as Nigeria finalizes $1.15-billion power plant sale
The company is in line to acquire one of five power plants being sold by the Nigerian government through the Ministry of Power.
Absa led by South Africa executive Arrie Rautenbach seals deal with French giant Renault
The collaboration introduces Renault Financial Services, a new financing and services platform designed for Renault customers.
Robert F. Smith regains top spot as America’s richest Black billionaire
This comes after a month-long reign of David Steward, majority shareholder and co-founder of World Wide Technology (WWT).
Digital bank backed by Africa’s first Black billionaire hits 12.4 million customers in South Africa, Philippines
This achievement comes less than a decade after its inception and is bolstered by a significant $110 million secured in its Series C capital raise finalized in January 2024.