Preliminary reports confirm helicopter carrying Nigerian banker was on fire before crash
Eyewitnesses reported adverse weather conditions, including rain and a mix of snow, during the helicopter’s journey.
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Ethiopian banker Dereje Zebene-led Zemen Bank secures $30-million facility from IFC
Zemen Bank, established in 2008, has emerged as a key player in Ethiopia’s financial services industry.
Uber in talks to back British-Nigerian entrepreneur Ladi Delano’s startup, Moove
Sources familiar with the negotiations have disclosed that the investment could potentially reach $100 million, marking a substantial milestone for both companies.
Egyptian billionaire Ahmed El-Sewedy-led electric firm unveils industrial city in Tanzania
Spanning an expansive 2.6 million square meters, EIC represents East Africa’s first fully integrated industrial hub.
South African tycoon Neal Froneman-led Sibanye cuts 2,600 jobs at platinum mines
Froneman emphasized the necessity of these measures, affirming that the restructuring initiative aims to salvage the sustainability of the company’s operations.
South African tech tycoon Zak Calisto loses $26 million from Karooooo stake
Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company.
Africa’s first Black billionaire Patrice Motsepe suffers $100-million loss
Despite the recent setback, Motsepe retains his position as the wealthiest Black individual in Southern Africa.
South African exec Kennedy Bungane-led African Bank acquires Sasfin Bank’s unit in $166-million deal
Under the leadership of Kennedy Bungane, African Bank Limited has experienced massive growth, becoming one of the fastest-growing financial services providers in South Africa.
Nigerian entrepreneur Emmanuel Okeleji’s SeamlessHR processes $311-million payroll across Africa in 2023
Under the leadership of Okeleji, CEO and co-founder, SeamlessHR remained the go-to partner for businesses across various sectors.
South African tycoon Giovanni Ravazzotti’s Italtile posts $250 million in half-year revenue
Italtile, controlled by Ravazzotti, recorded revenue amounting to $250.01 million in the first half of its 2024 fiscal year, highlighting operational resilience.
Financial loss forces delisting of Arbico, owned by Nigerian gambling magnate Kessington Adebutu
The company has engaged with regulatory authorities and stakeholders in the decision-making process and has initiated necessary procedures to ensure a smooth transition from NGX.
Tyler Perry halts $800-million studio expansion in Atlanta after OpenAI’s Sora launch
Perry reportedly expressed reservations about AI’s impact on creative storytelling and its ability to replicate the human touch in filmmaking.
Fortunes to Felony: The Merciless Bludgeoning of a Forbes Folk Hero
The media’s narrative craftsmanship shines through in the saga of dos Santos, where the portrayal of Africa’s former richest woman ascends into fame and descends into infamy.
Africa’s largest salt mine owner advocates for secure global pharmaceutical salt supply
Daniel McKorley’s key recommendation was the establishment of a global consortium to ensure a steady pharmaceutical salt supply.
Fani Titi-led Investec secures Takealot as tenant for $313-million logistics park
The move highlights the diversified nature of its business, extending beyond financial services.
Mauritian tycoon Arnaud Lagesse’s IBL nearly doubles half-year revenue to over $1.1 billion
Arnaud Lagesse, along with his siblings Benoit, Hugues, Jean-Pierre, Thierry, and Stephane Lagesse, collectively holds a substantial 16.8-percent joint stake in IBL Group.