Africa’s richest billionaire Aliko Dangote loses $200 million as share price of three of his businesses declines
Between Aug. 24 and Sept. 15, Dangote’s net worth declined from $18.2 billion to $18 billion.
Latest
Patrice Motsepe’s African Rainbow Capital sets aside $24.7 million for aggressive expansion into fintech space
The investment company has entered negotiations to add a fintech conglomerate to the group.
Former CEO Sarel van Zyl receives salary package of $333,000 in 2021 from FirstRand Namibia
Compared to the previous year’s pay of $623,147, Awori’s remuneration in 2021 fell by nearly 47 percent.
Malawian mogul Hitesh Anadkat earns $1.34 million in 15 days as TNM results trigger surge in stock price
The gain can be attributed to swift investor reactions after the telecom company’s half-year earnings were published.
Ten female executives playing critical roles in Africa’s financial sector
Africa’s financial sector has seen massive growth over the past few years compared to previous decades.
Nigerian banking tycoon Tony Elumelu to earn $1.16 million in interim dividends from UBA
The dividend will be paid from the bank’s profit for the first half of 2021.
Rights group urges Nigeria to pay businessman Ned Nwoko, others $418 million for debt assistance
The consultants facilitated refunds to Nigeria from the Paris and London clubs.
Egypt’s affluent Khamis family earns $75.3 million as shares in Oriental Weavers surge to 41-month high
Oriental Weavers is one of the largest carpet manufacturers in the world.
Jose Antonio Primo-led LafargeHolcim Maroc posts resilient results as revenues and net profit soar
The growth in the group’s revenue in the first half of 2021 led to a triple-digit surge in net profit.
Narendra Raval’s Devki Group counts on new plant to cut cement prices in Kenya
Increased productivity will see the company pass on the resultant price benefits to consumers.
Jack Bowles’ British American Tobacco roped into bribery scandal involving Mugabe
BAT has been accused of paying bribes in Southern Africa and using illegal surveillance to sabotage competitors.
Pieter Engelbrecht-led Shoprite plans to integrate Walmart subsidiary into operations
Africa’s largest retailer has unveiled plans to integrate the subsidiaries of Walmart-owned Massmart into its operations.
Patrice Motsepe’s phosphate maker to launch operations after activist appeal dismissed
The appeal was raised by the West Coast Environmental Protection Association.
Egyptian billionaire Nassef Sawiris’ net worth increases by $260 million in 24 days
Sawiris’ net worth between Aug. 20 and Sept. 13 increased from $6.67 billion to $6.93 billion.
Malawian tycoon Thomson Mpinganjira convicted in 2019 presidential election bribery case
The multimillionaire had pleaded not guilty to six bribery-related charges.
Patrice Motsepe’s Sanlam plans strategic acquisitions to strengthen its Africa operations
Sanlam seeks to acquire Alexander Forbes and an additional 22.8-percent stake worth R2 billion in Saham Assurance Maroc.