7 companies owned by South African mining tycoon Sipho Nkosi
From Eyesizwe Holdings to Tronox Holdings, witness the enduring impact of Nkosi’s legacy on business, social development, and inclusive economic practices.
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South African tycoon Laurie Dippenaar gained $59 million in 2023 from FirstRand
Presently, Dippenaar holds a 1.76-percent stake in FirstRand, to 98,726,988 shares — this stake makes him one of South Africa’s leading investors.
Somali businessman Abdirashid Duale’s Somtel launches Somali’s first 5G network
Duale emphasized that this move aligns with the vision for a tech-driven future, positioning the region for increased foreign investment and a flourishing tech scene.
Jay-Z’s wealth soars to $2.5 billion with $1.3-billion boost in 2023
The driving force behind Jay-Z’s remarkable financial growth was the sale of a 50-percent stake in the high-end cognac label, D’Usse, to Bacardi.
Mega-refinery of world’s richest Black billionaire welcomes fourth crude shipment
This delivery follows three previous shipments in December 2023.
10 companies linked to Mauritian tycoon Arnaud Lagesse
From leading Mauritius’ largest conglomerate, IBL Group, to investments in Kenya’s retail sector through Naivas International.
6 companies linked to South African business executive Anthony Leeming
From Sun International to Emperors Palace and the diversified Peermont Group, witness the transformative influence of Leeming in shaping the hospitality industry.
Ghanaian tycoon Daniel McKorley’s salt company to hire 2,500 workers in 2024
Presently producing 650,000 metric tonnes of salt, Electrochem Ghana is poised to increase its production to one million metric tonnes in 2024 and aims for two million by 2025.
Egyptian billionaire Ahmed El-Sewedy’s firm on track to finish $2.9-billion Tanzanian dam
Egyptian billionaire Ahmed El-Sewedy disclosed that the dam is now 94-percent complete and undergoing rigorous testing.
Ethiopia’s richest man Mohammed Al-Amoudi gained $3.59 billion in 2023
The $3.6-billion surge in Al-Amoudi’s fortune represents a daily average gain of $10 million throughout the year.
Michael Jordan made $1.8 billion in 2023 thanks to Hornets sale
The primary driver behind the substantial increase in Jordan’s wealth was the sale of his controlling stake in the Charlotte Hornets, a professional basketball team.
Nigeria’s second-richest man Abdul Samad Rabiu lost $1.8 billion in 2023
Starting 2023 with a net worth of $7.5 billion, Rabiu faced a $1.8-billion wealth decline due to the Central Bank’s implementation of a free float policy.
South Africa’s richest man Johann Rupert rebounds strongly, gains $1.49 billion in 2023
The surge in Rupert’s fortune not only cements his position as one of Africa’s richest billionaires but also propels him to the top of South Africa’s wealth hierarchy.
David Steward soars past peers as Black billionaire with biggest wealth gain in 2023
The secret behind Steward’s financial success in 2023 lies in his stake in WWT, a closely held tech behemoth specializing in information services and hardware.
Billionaire Michael Lee-Chin’s firm snags $100 million for Caribbean business boost
Lee-Chin’s vision for Portland Caribbean Fund III sets a transformative course for sustainable growth in the Caribbean.
Africa’s first Black billionaire Patrice Motsepe lost $600 million in 2023
The decline in his net worth is closely tied to the sustained downturn in the market value of his 40.37-percent stake in African Rainbow Minerals (ARM).