Patrice Motsepe’s African Rainbow Minerals posts 47% profit drop, trims payout
African Rainbow Minerals’ profit slumped 47% as weaker iron ore prices and Bokoni losses offset gains in manganese; dividend reduced to R6 a share.
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Dangote refinery bought crude worth $7.2 million from NNPC in July
Aliko Dangote’s $20 billion refinery bought $7.2 million crude from NNPC in July under Nigeria’s naira-for-crude policy, filings show.
Sanlam, backed by Patrice Motsepe, posts $654 million profit in H1 2025
Sanlam, backed by Patrice Motsepe, lifted H1 profit 6.9% to $654 million on gains from life, general insurance and investment management units.
Nigerian banker Jim Ovia’s Zenith Bank to open in Côte d’Ivoire, Cameroon
Jim Ovia’s Zenith Bank will open in Côte d’Ivoire and Cameroon in 2025, with Kenya expansion plans also underway.
Nigerian insurance tycoon Wole Oshin's Custodian stake is now worth $42 million
Wole Oshin’s Custodian stake soars to $42 million as shares rally 142%, boosting wealth and investor confidence in Nigeria’s insurance sector.
Sale of Noluthando Gosa-linked ArcelorMittal SA to IDC stalls over valuation
ArcelorMittal SA, linked to businesswoman Noluthando Gosa, risks closure of its long steel division and 3,500 jobs as IDC sale talks falter over valuation.
South African tycoon Stephen Saad’s Aspen Pharmacare swings to $61.4 million loss in 2025
Aspen Pharmacare reports $61.34 million loss as revenue falls 3 percent, driven by restructuring and manufacturing challenges.
CIC Group, partly owned by Kenyan tycoon Gideon Muriuki, posts half-year profit under $5 million
CIC Group reports mixed H1 2025 results as profits fall below $5 million, with strong gains from investments and microinsurance growth.
Anglo, led by South Africa’s Duncan Wanblad, to exit platinum business in $2.7 billion deal
The move marks the final chapter in Anglo’s century-long history in the precious metal.
Fidelis Ayebae's Fidson partners with Japanese firm to expand Nigeria drug production
Fidson Healthcare expands partnership with Japan’s Ohara to boost local drug production, cut reliance on imports, and improve access to affordable medicines.
Aliko Dangote refinery halts gasoline unit for two weeks
Dangote’s $20 billion Nigerian refinery has shut its gasoline unit for two weeks after technical faults, disrupting output and tightening markets.
Ugandan tycoon Emmanuel Katongole’s QCIL secures $2 million facility
The financing will help QCIL strengthen supply chains and widen the reach of its medicines.
South Africa’s Saltzman-backed Dis-Chem opens 300th store in Mbombela
Dis-Chem, backed by South Africa’s Saltzman family, has opened its 300th store in Mbombela, expanding access to affordable primary healthcare.
Zimbabwean executive Never Mhlanga arrested in $5 million Montclair Hotel fraud case
Zimbabwean executive Never Mhlanga arrested over $5 million Montclair Hotel and Casino sale fraud allegations in Harare.
Anglo, led by South Africa’s Duncan Wanblad, hits Brazil probe over $500 million nickel sale
Brazil reviews Anglo American’s $500 million nickel deal with MMG, raising scrutiny on Duncan Wanblad’s strategy and China’s role in minerals.
South African pharma tycoon Gus Attridge loses $15.8 million on Aspen stake
Aspen co-founder Gus Attridge loses $15.8 million in three weeks as drug stocks fall, cutting Aspen’s value below $2.6 billion.