Moroccan royal family’s investment in Attijariwafa Bank surges to $5 billion
The royal family’s stake in Attijariwafa Bank has increased by MAD2.18 billion ($217.23 million) over the past 19 days, reaching MAD50.18 billion ($5 billion).
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South African billionaire Christo Wiese returns to diamond mining roots
The 82-year-old South African businessman’s journey in the diamond industry began in 1976 when he purchased a mine along the Orange River.
Femi Otedola’s FBN Holdings emerges as Nigeria’s most valuable banking group
As of the close of trading on Mon., Feb. 25, FBN Holdings’ market capitalization reached an impressive N1.22 trillion ($791.1 million).
Egyptian tycoon Ashraf Sabry’s Fawry and LA Market join forces to boost local businesses
Fawry, with esteemed shareholders including the National Bank of Egypt and Banque Misr, has positioned itself as a key player in Africa’s fintech landscape.
Billionaire Patrice Motsepe donates $1.55 million to alleviate student debt in South Africa
Motsepe, who achieved the status of Africa’s first Black billionaire in 2008 through success in the mining industry, has consistently been a dedicated philanthropist.
Nigerian billionaire TY Danjuma unveils eye hospital in Taraba State
The launch of the eye hospital, signifies a significant milestone in TY Danjuma’s dedication to advancing healthcare infrastructure and addressing health issues in Nigeria.
Universal Music Group acquires majority stake in Don Jazzy’s Mavin Global
The deal is poised to close by the end of Q3 2024, heralding a new chapter for Mavin Global under the stewardship of Universal Music Group.
Nigerian tycoon Taiwo Afolabi’s group halts port operations in wake of terminal fire
The incident occurred on Saturday, February 24, impacting the facilities of Port and Cargo Handling Services Limited, a key subsidiary of the conglomerate.
Nigerian president appoints billionaire business leaders to Economic Advisory Committee
In the face of economic challenges, Nigerian billionaire Aliko Dangote emphasizes the need for swift and decisive action from both the public and private sectors.
Patrice Motsepe’s stake in ARM declines by $137 million
Motsepe, Africa’s first Black billionaire and a prominent South African tycoon, holds a 45.9-percent stake in ARM, or 89,905,401 shares.
South African tycoon Vivian Reddy reveals $1.55-million annual spend on diesel
Reddy, renowned for his transformative Oceans Mall Umhlanga venture, estimated an annual expenditure of nearly $1.55 million solely on diesel to counter the disruptions caused by power outages.
Hani Berzi’s Edita goes digital with Fawry to facilitate cashless collections
Founded by Berzi in 1996, Edita Food Industries has established itself as a key player in Egypt’s food industry landscape.
Nigerian tycoon Tayo Amusan’s consortium unveils $100-million arena in Lagos
Amusan’s consortium aims to create Africa’s first live entertainment hub, The Arena.
Ethiopia’s richest man Mohammed Al-Amoudi gains $130 million in two weeks
The surge in his fortune propels Al-Amoudi to 259th place on the prestigious list of the world’s 500 wealthiest billionaires.
Morocco’s richest banker Othman Benjeloun’s group signs deal to drive expansion in Africa
Benjelloun, a leading Moroccan billionaire and the driving force behind BOA Group, holds a significant 27.41-percent stake in the leading group.
South African billionaire Christo Wiese loses $30 million from Shoprite stake
Wiese holds a 10.67-percent stake in Shoprite, equivalent to 63,110,920 shares valued at over $850 million.