South African billionaire Koos Bekker-led Prosus plans to double revenue by 2028
The company’s CEO, Fabricio Bloisi, announced this ambitious growth plan during Prosus’s Capital Markets Day on Wednesday.
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South African billionaire Jannie Mouton gains $37 million from Capitec shares
Capitec’s stock surge boosts Mouton’s fortune and reaffirms investor confidence in South Africa’s leading retail bank.
Sven Thieme expands O&L’s footprint in Namibia’s luxury tourism with Desert and River Lodge acquisitions
The deal is currently subject to approval by the Namibian Competition Commission.
Black executive Marvin Ellison’s stake in Lowe’s grows by $5.8 million
Lowe’s CEO Marvin Ellison adds $5.8 million to his stake as shares rise 3.67%, lifting the retailer’s market cap above $120 billion.
Wale Tinubu’s Oando kicks off 2025 with $601.5 million in first-quarter revenue
Oando kicks off 2025 with a 90.51% profit surge to $70 million, powered by finance income, tax gains, and strong E&P performance.
South Africa’s Ivan Saltzman transfers nearly $400 million in Dis-Chem shares to sons
The move involves 217 million shares held via Ivlyn Local Investment Holdings, an investment vehicle controlled by the Saltzman family.
Nigerian tycoon TY Danjuma’s IMG gets backing for $4.2 million rights issue
TY Danjuma’s IMG wins shareholder support for $4.2 million rights issue after revenue surge; expands investments in power, gas, and agribusiness sectors.
MTN, led by Zimbabwe’s Ralph Mupita, completes $360 million share buyback
MTN Group repurchases $357.8 million worth of shares from MTNZF, closing BEE scheme and strengthening its balance sheet under CEO Ralph Mupita’s leadership.
How Prosus plans to repeat South African billionaire Bekker’s billion-dollar Tencent bet
Prosus bets big on India, echoing Bekker’s Tencent strategy with long-term investments in tech platforms like PayU and Meesho.
Kenny Fihla-led Absa accounting ‘in disarray,’ court denies property seizure bid
The court rejected Absa’s application, insisting the matter requires full trial and mediation, which the bank had declined.
South African tycoon Giovanni Ravazzotti gains $18 million from Italtile stake
Giovanni Ravazzotti gains $18 million in four days as Italtile shares rebound, lifting his stake to nearly $420 million despite year-to-date losses.
Dalia Khorshid leads Beltone in securing $20 million in green funding
Beltone secures $20 million from SANAD and GGF to fund MSMEs and green projects, deepening its sustainability push under Dalia Khorshid’s leadership.
Hassanein Hiridjee’s AXIAN Telecom secures $28.8 million loan after Jumia stake deal
AXIAN Telecom secures $28.8 million from IFC to expand broadband in Comoros, including 5G rollout and fiber upgrades starting in 2025.
East Africa's first billionaire hands over multimillion-dollar faculty complex in Uganda
The project, delivered by Vcon Construction, the construction arm of the Ruparelia Group, was reportedly completed in just under two years.
Dis-Chem founder Ivan Saltzman restructures $377.7 million stake among heirs
Dis-Chem’s Ivan Saltzman restructures $377.7 million stake, transferring shares to heirs in a move reinforcing family control, succession, and executive alignment.
Tanzanian businessman Said Bakhresa plans $500 million factory expansion
The move is aimed at boosting production and reinforcing the company’s leadership in the regional market.