Nigerian businessmen Kola Aluko, Jide Omokore forfeit $53 million to U.S. Justice Department
Aluko and Omokore paid bribes to Nigeria’s former petroleum minister to corner juicy contracts.
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Nigerian tech entrepreneur Shola Akinlade buys European football club one year after launching club in Lagos
Akinlade is now the majority owner of Aarhus Fremad.
South African executive Alan Pullinger loses $1.8 million from investment in FirstRand
Pullinger holds a 0.1-percent stake in the Gauteng-based financial services provider.
Led by Egyptian Ghabbour family, GB Auto gets green light to rebrand as ‘GB Corp’
The Ghabbour family owns a 62.9-percent stake in GB Auto.
Kenyan banker James Mwangi’s Equity Group smashes records, surpasses $350-million profit in 2022
Equity Group Holdings is a leading financial services group.
Dar es Salaam-based tycoon Hans Macha rakes in $1.2 million in three months from stake in CRDB
Macha owns 1.9 percent of CRDB Bank.
Nigerian philanthropist Afe Babalola donates $12.2 million to King’s College London to empower African youths
The generous contribution will be used to establish the Afe Babalola African Center for Transnational Education at King’s College London.
Adidas drops Beyonce’s Ivy Park collab amid $10-million loss
The decision to end the partnership followed reports that Adidas suffered a loss of $10 million in 2022.
Abdul Samad Rabiu’s net worth skyrockets to $8.2 billion, now closer to being Africa’s third-richest person
Rabiu is also one of the continent’s most prominent philanthropists.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M pockets $3.4 million in dividends from Mauritius-based subsidiary
Since its founding in 1974, I&M has grown into one of the leading financial services groups in East Africa.
South African billionaire Nicky Oppenheimer has now gained $325 million since start of 2023
Oppenheimer is also a passionate advocate for wilderness conservation.
Nigerian banker Herbert Wigwe’s Access Holdings to acquire new banking unit in Zambia
Wigwe holds a 4.51-percent stake in Access Holdings.
Seplat ends contract with Nigerian energy magnate over breaches endangering its $3.5 billion in assets
Seplat parted ways with Orjiako due to multiple material corporate governance breaches.
Moroccan tech tycoon Hassane Amor’s Microdata posts $4.1 million in profit in 2022
Amor holds a 56.17-percent stake in the company.
America’s second-richest Black person David Steward gains $664 million
Steward’s net worth is mostly derived from his 59-percent stake in World Wide Technology.
Jay-Z achieves $2.5-billion net worth milestone, tying with media mogul Oprah Winfrey
In 2019, Jay-Z became hip-hop’s first billionaire.