South African tycoon Giovanni Ravazzotti’s Italtile stake nears $330 million
Ravazzotti’s stake in Italtile nears $330 million thanks to a $21.9-million gain in 14 days.
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Electric firm owned by Egyptian billionaire El-Sewedy family lands $1 billion deal with Saudi Electric
Elsewedy Electric has secured a $1-billion partnership with Saudi Electricity Company to enhance energy infrastructure in the Middle East.
Egyptian steel magnate Ahmed Ezz’s stake in Ezz Steel rises by over $100 million
In just two weeks, the Egyptian steel magnate has seen his stake in the steel giant appreciate by more than $100 million amid soaring investor confidence.
Kenyan tycoon Peter Ndegwa-led Safaricom secures second $116-million sustainability-linked loan
This follows a similar loan obtained last year, bringing the total to Ksh30 billion ($232.2 million).
Nigerian business mogul Theophilus Danjuma donates $605,460 to Maiduguri flood victims
Nigerian billionaire Theophilus Danjuma has donated ($605,460) to aid Maiduguri flood victims, providing essential support for recovery efforts in Borno State.
Nigerian billionaire Femi Otedola’s stake in FBN Holdings tops $84 million after latest purchase
Otedola’s recent acquisition solidifies his position as the largest shareholder in the parent company of First Bank of Nigeria, raising the market value of his stake to $84.2 million.
Hassanein Hiridjee’s AXIAN Group completes stake acquisition in Ivorian insurance startup
The acquisition, finalized in mid-July 2024, positions AXIAN as WiASSUR’s second-largest shareholder and grants the conglomerate a governance role.
Prosus, linked to South African billionaire Koos Bekker, offloads $743 million worth of Trip.com shares
Prosus N.V. has grown into a leading global consumer Internet group. The transaction gives Prosus liquidity to focus on higher-growth areas in its portfolio.
Nigerian billionaire Femi Otedola’s wealth grows by $400 million despite naira devaluation
Otedola’s net worth has surged by $400 million since the start of 2024, increasing from $1.1 billion to $1.5 billion, according to Forbes.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods expands pasta production with strategic FAVA deal
The agreement will see BUA Foods more than double its current output from 400,000 tonnes to 900,000 tonnes per year.
Diddy’s legal battles prompt asset sales as he remains in custody
Combs was arrested last week and remains in custody after twice being denied bail.
Greek tycoon John Coumantaros secures approval to buy out minority stakeholders in Flour Mills of Nigeria
Excelsior Shipping, linked to Coumantaros, has secured a court order to convene a Court-Ordered Meeting, during which shareholders will vote on the proposed scheme.
Jay-Z pledges $250 million in grants to boost Times Square Casino bid
Jay-Z pledges $250 million in grants to support Hell’s Kitchen and boost his Times Square casino bid.
LeBron James' SpringHill Co. partners with Mediawan to expand global productions
James' SpringHill Co. partners with Mediawan to co-produce film and TV projects for international markets.
Egyptian billionaire Naguib Sawiris expands Orascom's gold mine investments to $1.5 billion
Billionaire Naguib Sawiris expands Orascom's gold investments to $1.5 billion amid rising global demand from China and Russia.