Wealthy Kenyan Ndegwa family suffers over $3-million loss in single day
The Ndegwa family, which was involved in the merger of NIC Bank Group and Commercial Bank of Africa Group in 2018, owns a 14.94-percent stake in NCBA Group.
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Distressed fund founded by South African tycoon Sisa Ngebulana to offload $380 million in assets
Rebosis Property Fund was established by Ngebulana in 2010.
South African executive Anton De Bruyn’s salary at Shoprite amounts to $1 million
De Bruyn’s 2022 compensation package comprises a secure base pay of $323,500 and a performance-based short-term incentive of $260,000.
South African tycoon Gary Nagle loses $3 million from stake in world’s largest mining group
South African business executive Gary Nagle owns a 0.016-percent stake in Glencore, or 2,000,000 shares.
Nigerian tycoon Taiwo Afolabi’s Sifax Group expands fleet, acquires 13 trucks
Under Afolabi, Sifax Group has evolved into a leading conglomerate with diversified interests in aviation, oil and gas, maritime, haulage, logistics, and hospitality.
Kenyan billionaire Narendra Raval faces sanctions for inflating steel prices
The Competition Authority uncovered evidence of price fixing, where nine companies, including Raval’s Devki Steel Mills, collaborated to collectively set prices.
Kanye West puts up Hollywood Hills mansion for sale at $3.6 million
West purchased the property, which consists of three bedrooms and four bathrooms, in 2003 for $1.75 million.
South African tycoon Laurie Dippenaar suffers $7-million loss from FirstRand stake
Dippenaar presently holds a 1.76-percent stake in FirstRand, equivalent to 98,726,988 shares.
King Mswati III of Eswatini left off BRICS summit invitation list
The omission of King Mswati III of The Kingdom of Eswatini from the guest list for the upcoming BRICS Summit has triggered discussions
Patrice Motsepe advocates for BRICS partnerships to drive Africa’s growth
Motsepe serves as the inaugural chairperson of the BRICS Business Charter in South Africa.
Zimbabwean businessman John Moxon suffers $148-million loss
According to data tracked by Billionaires.Africa, Moxon’s losses from his stake in Meikles Limited have now surpassed $148 million within 71 days.
Namibian tycoon Knowledge Katti ecstatic as Trigon secures $8.9-million financing
Katti, one of Namibia’s richest men, owns a 10-percent stake in Trigon Metal’s Kombat copper mine.
South African-born tycoon Barry Stuhler loses $9.1 million from Lighthouse stake
Stuhler owns a 9.72-percent stake in Lighthouse Properties. His stake amounts to 172,699,222 shares in the Malta-based property company.
Nigerian billionaire Olugbenga Agboola’s Flutterwave advances IPO plans
Agboola’s stake in Flutterwave surged to a value exceeding $370 million after the company’s funding round last year in February.
Nigerian entrepreneur Tosin Eniolorunda’s Moniepoint to acquire Kenyan payment firm
Moniepoint Inc., originally founded as Apt Inc. by Eniolorunda in 2015, has rapidly evolved into a powerhouse within the fintech realm.
Former OPEC President Diezani Alison-Madueke charged with bribery offenses in UK
Alison-Madueke served as Nigeria’s minister for petroleum resources under former President Goodluck Jonathan.