Rihanna’s $34.8 million fashion loss highlights the high cost of luxury bets
Rihanna lost $34.8 million from her Fenty fashion line with LVMH, which also lost $34.9 million before shutting down the label.
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Bloomberg pegs Dangote’s net worth at over $30 billion; Forbes says not yet
Bloomberg values Aliko Dangote at $30.5 billion, while Forbes says he remains $3.9 billion short of reaching the $30 billion milestone.
Sanlam, backed by Motsepe, expands private market investments in South Africa
Sanlam, backed by billionaire Patrice Motsepe, boosts private market investments to strengthen returns in South Africa.
Gabonese oil tycoon Samuel Dossou-Aworet set for big payout from ND Western
Gabonese oil magnate Samuel Dossou-Aworet eyes a major payout as Petrolin plans to sell its 40 percent ND Western stake to Aradel Energy.
South African tycoon Christopher Seabrooke gains $8.5 million from Sabvest stake
South African tycoon Christopher Seabrooke’s stake surges by $8 million as Sabvest Capital shares rally on the JSE, lifting his stake above $100 million.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa eyes AI, data centers to drive growth
Sunil Bharti Mittal’s Airtel Africa targets partnerships, AI, and data centers to strengthen the continent’s digital economy.
Nigerian tycoon Rasheed Sarumi-led Presco sees profit doubles as revenue surge to $187 million
Rasheed Sarumi-led Presco sees profit surge to N110.79 billion and revenue climb to N274.5 billion on higher palm oil prices.
CRDB Bank, led by Abdulmajid Nsekela, secures $120 million to support East Africa’s entrepreneurs
Led by Abdulmajid Nsekela, CRDB Bank raises $120 million from FinDev Canada, DEG, and Shelter Afrique to boost women, youth, and small businesses.
Egyptian Ghabbour family’s stake in GB Corp rebounds above $350 million
The Ghabbour family’s GB Corp stake rebounds above $350 million as shares rally 17% on the Egyptian Exchange, restoring investor confidence in Egypt’s leading automaker.
Senegalese businessman Tamsir Ousmane Traore buys Ivorian freight startup
Senegalese businessman Tamsir Ousmane Traoré acquires Ivorian freight startup Kamtar, expanding Logidoo’s digital logistics network across West Africa.
Africa’s richest man Aliko Dangote's refinery plans 10% stake listing on the NGX
Africa’s richest man Aliko Dangote plans a 10% listing of his $20 billion refinery on the Nigerian Exchange to expand investor participation.
Nigerian-Lebanese tycoon Bassim Haidar’s Optasia targets $1.5 billion valuation in Johannesburg IPO
Optasia, led by Nigerian-Lebanese tycoon Bassim Haidar, plans a Johannesburg IPO targeting a $1.5 billion valuation.
Neville Koopowitz, Discovery’s UK boss, earns nearly $5 million, topping CEO’s pay
Neville Koopowitz, head of Discovery Group’s U.K. unit, earned almost $5 million in the last financial year, topping the pay of founder and CEO Adrian Gore.
South Africa's richest black man Patrice Motsepe dismisses ANC presidency rumors
South African billionaire Patrice Motsepe has denied speculation that he plans to run for the ANC presidency. Speaking in Johannesburg, Motsepe said his focus remains on business and philanthropy, not politics, dismissing weeks of mounting rumors about a potential candidacy.
Dangote’s refinery IPO could make him Africa’s first $100 billion man
Nigeria’s richest man is preparing to list a slice of his refinery, and if the market agrees with his valuation, it could send his net worth soaring to levels few in the world have reached.
NBA champion Masai Ujiri partners with Hilton to open first Rwanda hotel
Hilton has signed three new Tapestry Collection hotels across Sub-Saharan Africa, including a Kigali property by Masai Ujiri’s Zaria Group.