Legal battles cast shadow over late Kenyan President Moi family’s vast estate
The extensive estate left by the late Kenyan President Daniel arap Moi, the nation’s second-largest landowner, is entangled in a series of legal battles.
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Nigerian businessman Dozy Mmobuosi charged by SEC in alleged massive fraud
The SEC accused him of inflating figures and and engaging in billions of dollars’ of fictitious transactions.
Tunisian tycoon Abdelwaheb Ben Ayed rakes in $1.73 million from Poulina shares
Ben Ayed owns a beneficial 3.4-percent stake in the Tunis-based conglomerate, Poulina Group.
Namibian businessman Quinton van Rooyen suffers $21.4-million loss in 34 days
Van Rooyen’s stake in Trustco has declined by $21.37 million since Nov. 14.
Black CEO Russell Stokes earns $6.8-million salary from GE Aerospace in 2022
Stokes’ 2022 compensation package represents a 5.21-percent increase from the prior year’s salary of $6.52 million.
Nigerian tycoon Tony Elumelu’s UBA secures $175-million facility from AfDB
The facility will enhance UBA’s capacity to finance crucial projects in Nigeria, with a focus on infrastructure, agriculture, and related value chains.
Nigerian billionaire’s cement firm commences operations at multimillion-dollar plant line
BUA Cement has solidified its position as Nigeria’s second-largest cement producer.
Leeming-led group seals $400-million deal to acquire Emperors Palace owner
To fund this strategic acquisition, Sun International is opting for a strategic infusion of new debt.
Black executive Shundrawn Thomas earns $8.9-million salary from Northern Trust
The accomplished corporate executive received a long-term incentive award of $8.56 million, highlighting his dedication and expertise during his over 18 years of tenure.
South African accountant Terence Nombembe assumes director role at Nedbank
Nombembe’s appointment comes at a pivotal juncture for the South African banking sector, grappling with challenges posed by rising inflation and economic uncertainty.
Black CEO Alfred Liggins earns $7.7-million salary from Urban One in 2022
Liggins — the only child of Cathy Hughes, the founder of Urban One — received a compensation package comprising a base salary of $1.25 million.
Burkinabe tycoon Idrissa Nassa’s Coris Bank to acquire Standard Chartered’s Cote d’Ivoire unit
Coris Bank International as established itself as a pivotal player in the West African financial services sector.
Kenyan tycoon James Mwangi suffers $2.1-million loss from Equity Group stake
Mwangi owns a 3.38-percent stake in Equity Group, or 127,809,180 ordinary shares.
Beyonce’s net worth jumps $350 million with creative exploits and historic tour
A key contributor to Beyonce’s financial success is attributed to her recently concluded Renaissance World Tour, which brought in $100 million (post-tax).
6 companies owned by South African real estate tycoon Steven Herring
With decades of experience and a portfolio exceeding $160 million, Herring ranks as one of the leading figures on the African business scene.
Black executive Jason Tyler earns $4.4-million salary from Northern Trust
Beyond his executive and leadership roles at Northern Trust, Tyler owns a minority 0.02-percent stake in the financial services company.