Ugandan businessman Patrick Bitature faces prosecution over $26-million fraud
If found guilty, the 60-year-old Ugandan businessman and his 56-year-old wife could face severe legal consequences.
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Nigerian tycoon Fola Adeola’s Iwosan Investments unveils new medical facility in Lagos
Iwosan Investments is a leading healthcare investment firm committed to transforming and improving Nigeria’s healthcare landscape.
This Week In Review: A Snapshot of African Wealth Dynamics — Dewji’s $300-Million Surge, Dippenaar’s $28-Million Setback, and Dangote’s Net Worth Hits $20 Billion (Jan. 22 to 26)
Join us as we delve into the highs and lows of the continent’s top business figures in our latest review of Africa’s dynamic market shifts and strategic maneuvers.
South African exec Marthinus Visser pockets $1 million from OUTsurance in 2023
Visser saw a notable 43.68-percent increase in his 2023 compensation package compared to the R14.03 million ($0.74 million) he received in the previous fiscal year.
South African billionaire Ivan Glasenberg loses $860 million in just 24 days
The $860-million year-to-date wealth loss is attributed to the sustained dip in the market value of his 9.81 percent stake in Glencore.
Africa’s youngest billionaire Mohammed Dewji makes $300 million in just 25 days
This rapid increase in Dewji’s wealth is attributed to the revaluation of his stake in MeTL Group, a conglomerate with an extensive portfolio spanning over 150 products.
Nigerian executive Olusegun Ogunsanya pockets $2.4 million as Airtel Africa CEO
The compensation package represents a 73.36-percent surge from the previous year’s total reward of $1.4 million.
5 companies owned by Somali businessman Ismail Ahmed
Ismail Ahmed is more than just a titan of the fintech industry. He’s a visionary leader, a philanthropist, and a testament to the power of perseverance.
South African tycoon Laurie Dippenaar loses $28 million from FirstRand stake
Dippenaar, who co-founded Rand Consolidated Investing in 1977 and grew it into a leading financial services group, holds a 1.76-percent stake in FirstRand.
South African-born billionaire Patrick Soon-Shiong loses $460 million in 17 days
This financial setback is attributed to the sustained sell-offs that affected the market value of his 76-percent stake in ImmunityBio.
Kenyan tycoon Peter Njonjo’s Twiga Foods settles debt dispute with Google Cloud reseller
The conflict between the two companies began in September 2023 when Google Cloud Services provider Incentro Africa filed a lawsuit against Twiga Foods.
Egyptian tycoon Hassan Allam’s firm secures $75-million investment from EBRD
Under the leadership of Allam, Hassan Allam Holding has been making strides in the engineering and construction sectors for more than eight decades.
Nigeria’s second-richest man Abdul Samad Rabiu makes $1.1 billion within 24 hours
Rising shares propel Rabiu’s stake in cement and food ventures to a combined $11.91-billion valuation.
Morocco’s second-richest man Othman Benjelloun rakes in $80 million from BOA stake
This remarkable increase has translated into substantial gains for the bank’s shareholders, including Benjelloun, who ranks as one of Africa’s billionaires.
African-American billionaire Alex Karp gains $100 million in just 8 days
The surge in Karp’s fortune, equivalent to an average daily gain of $12.5 million since Jan. 16, is linked to the performance of his 2.63-percent stake in Palantir Technologies.
Meet Sarah Bond: Black executive leading gaming industry’s transformation
Beyond Xbox, Bond’s influence extends to the boards of leading tech companies, where her expertise acts as a guiding force for diverse businesses.