Morocco Prime Minister Aziz Akhannouch gains another $100 million
The multimillion-dollar increase in Akhannouch’s net worth has cemented his position as the wealthiest billionaire in Morocco.
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The Making of a Hip-Hop Millionaire: Slim Williams and the Cash Money empire
Delve into Ronald “Slim” Williams’ rise from the vibrant streets of New Orleans to co-founding the powerhouse Cash Money Records, becoming a hip-hop mogul, and beyond.
South African tycoon Laurie Dippenaar loses $25.6 million from FirstRand stake
Dippenaar holds a 1.76-percent stake in FirstRand, which translates to 98,726,988 shares in the group.
South African executive Niall Lynch earns $1-million salary in 2023
Lynch’s 2023 compensation package reflects a 53.69-percent increase compared to the previous year’s total reward of R11.81 million ($0.62 million).
South Africa’s Ackerman family gains $29 million in 27 days from Pick‘n Pay shares
The Ackerman family, known for their wealth and diverse investments, currently holds a significant 25.53-percent stake in Pick ‘n Pay, equivalent to 124,677,238 shares.
Egyptian tycoon Hisham Talaat Moustafa’s TMG secures stake in newly established Legacy Hospitality
The recent acquisition aligns with TMG’s strategy to maximize recurring income activities, enhance foreign currency resources, and create spare liquidity for future dividends.
U.S.-Nigerian mogul Sam Darwish’s IHS and Airtel forge partnership to boost infrastructure
Under the groundbreaking move, Airtel Nigeria has committed to securing 3,950 tenancies over the next five years.
African-American billionaire Alex Karp gains $600 million in just 9 days
The recent increase in his fortune is linked to the performance of his 2.63-percent stake in Palantir Technologies.
Kenya’s wealthy Merali family loses $1.9 million from investment in Sasini Tea
The Merali family, holding a majority 65.46-percent stake in the agribusiness firm valued at more than $23 million, ranks as Sasini’s largest shareholder.
Companies and ventures linked to the late Nigerian banker Herbert Wigwe
From transforming Access Bank into Access Holdings to visionary ventures like Tengen Holdings, HOW Foundation, and the upcoming Wigwe University.
Tanzanian billionaire Rostam Aziz to pocket millions from sale of container terminal
Aziz, 59, was the first Tanzanian to boast of a billion-dollar fortune according to Forbes.
Egyptian billionaire Yasseen Mansour rakes in $2.8 million from real estate firm
Mansour owns a sizable 5.6-percent stake in the Cairo-based real estate firm, which translates to 202,291,698 ordinary shares.
India’s richest man Gautam Adani ventures into Tanzania with Ticts acquisition
The UAE-incorporated East Africa Gateway was established to spearhead Adani Group’s interests in East Africa and the broader African continent.
This Week In Review: A Snapshot of African Wealth Dynamics — Strategic Moves by Peters, Otedola’s Dividend Windfall, and Dangote’s Expansion (Feb. 5 to 10)
Dive into the dynamic world of African business magnates, where Benedict Peters teams up with the Atlantic Council, Femi Otedola secures a massive dividend from Geregu Power, and Aliko Dangote propels his companies toward public listings.
Nigerian banker Herbert Wigwe dies in helicopter crash
Wigwe died on Saturday in a helicopter crash in the United States.
Angola plans IPO for Unitel after seizing control from Africa’s first female billionaire
As Angola positions itself on the global stage, the planned IPO for Unitel and the stake sale in Banco de Fomento Angola reflect the government’s commitment to fostering economic growth.