Kenyan tycoon Andrew Ndegwa gains $3.5 million from stake in NCBA Group
Ndegwa, a director on the board of NCBA Group, holds a commanding 4.63-percent stake in the leading lender, translating to 76,336,855 ordinary shares.
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Sim Tshabalala projects Standard Bank’s sustainable financing to top $15.6 billion by 2026
With Tshabalala at the helm, Standard Bank continues to achieve significant milestones, connecting African markets with global economies while delivering strong returns to shareholders.
Nigerian gas tycoon Julius Rone seeks investment for revolutionary FLNG project
The appeal for investment was made during a meeting between Rone’s management team at UTM Offshore and Felix Omatsola Ogbe, the executive secretary of NCDMB.
South African tycoon Jonathan Jawno gains $7.7 million from Transaction Capital stake
Jawno, a founding member of Transaction Capital, holds a 9.59-percent stake in the group, amounting to 72,667,000 ordinary shares.
Adidas eyes new deals after cutting ties with Kanye West; Taylor Swift on radar
More than a year after a high-profile split with Kanye West, Adidas is stepping up its search for new collaborators, signaling a shift in its strategy.
Africa’s first Black billionaire Patrice Motsepe to receive $28.8 million from ARM
The $28.8-million interim dividend will be deposited into Patrice Motsepe’s bank account on Mon., April 8, 2024.
Egyptian tycoon Medhat Khalil’s firm eyes expansion via acquisition ahead of IPO
Raya Information Technology is actively pursuing the acquisition of a firm specializing in outsourcing and application development.
South African banker Alan Pullinger loses $3 million as FirstRand shares dip
While some banking executives are weathering the storm, Pullinger has seen millions of dollars shaved off his holdings.
Ethiopia’s richest man Mohammed Al-Amoudi loses $160 million in 3 weeks
Al-Amoudi’s fortune has dwindled from $9.29 billion on Feb. 25 to $9.13 billion.
South African tycoon Adrian Gore loses $25.6 million from Discovery shares
Despite the setback, Gore remains a prominent figure on the JSE and retains his position as one of South Africa’s wealthiest individuals and leading business executives.
Black exec Craig Arnold-led Eaton scores $1.3-billion contract to equip U.S. Army’s next-gen helicopter
The award positions Eaton as a key player in the development of the FLRAA, a cutting-edge military helicopter program designed to replace the U.S. Army’s Black Hawk by 2030.
South African banker Sim Tshabalala reiterates Standard Bank’s commitment to climate policy amidst rising criticism
Standard Bank thrives financially but faces criticism for funding fossil fuels.
South African tycoon Jens Montanana loses $4.5 million from Datatec stake
Montanana’s significant shareholding continues to position him as one of the wealthiest investors on the Johannesburg Stock Exchange.
Egypt’s billionaire El-Sewedy family loses $677 million as Egyptian pound tumbles
Despite this financial setback of $677 million, the El-Sewedy family maintains their position as one of Egypt’s leading billionaire families.
Cummins linked to Black executive Sharon Barner to invest $1 billion to bolster manufacturing presence
Cummins steams ahead with strong financials and executive leadership.
Black executive Kenneth Frazier loses $6.4 million from Merck & Co. stake
As a result, the company’s market capitalization has fallen below $310 billion, leading to significant losses for shareholders, including Frazier.