Kenyan tycoon Baloobhai Patel boosts bank holdings with 5 million shares in Absa Kenya
Patel’s stake in Absa Bank Kenya has risen from 42.5 million shares to 47.5 million shares.
African Billionaires
Ghana’s richest investor Daniel Ofori faces tough time as stake in Societe Generale slumps by $2.4 million
Ofori remains the richest investor on the Ghana Stock Exchange and one of the wealthiest businessmen in the country.
America’s richest Black billionaire Robert F. Smith adds $100 million to fortune
According to the Bloomberg Billionaires Index,Smith holds the 151st position among the world’s wealthiest individuals.
Diageo ends ties with Sean ‘Diddy’ Combs amid lawsuit alleging discrimination
Diageo expressed profound disappointment in Combs for bringing forth what they deemed a bad faith lawsuit.
Late Kenyan tycoon Naushad Merali’s family’s stake in Sasini Tea surpasses $30-million mark
With their remarkable gains in the stock market and increased profitability, the Merali family continues strengthening their financial standing.
South African tycoon Neal Froneman anticipates Mopani Copper bid outcome in September
Froneman has revealed that Sibanye-Stilwater is two months away from finalizing the offer to acquire Zambia’s Mopani Copper Mines.
Naspers, led by South African billionaire Koos Bekker, faces setback as profits slump below $10 billion
The majority of Bekker’s fortune stems from his 0.85-percent stake in Naspers and another 0.72-percent stake in Prosus.
Tanzanian billionaire Rostam Aziz unveils $100-million deal for Zambia’s first LPG facility
In collaboration with Delta Marimba, Aziz’s Taifa Gas will establish Zambia’s first LPG plant in the northern part of the country.
South African tycoon Jonathan Jawno’s Transaction Capital faces $1.1-billion market cap plunge in 2023
Jawno owns a significant 9.59-percent stake in Transaction Capital, or 72,667,000 ordinary shares.
South African billionaire Michiel Le Roux rakes in $120 million, stake in Capitec surpasses $1-billion mark
This latest $120-million surge in Le Roux’s stake solidifies his position as one of Africa’s wealthiest individuals.
Dangote’s throne as ‘richest Black person’ under threat as American billionaire keeps pace
The wealth gap between Aliko Dangote and Robert F. Smith has significantly decreased, raising the stakes in this high-profile competition.
Kenyan mogul Myke Rabar’s Homeboyz to divest 30-percent stake
Established in 1995 as a DJ outfit by Rabar, Homeboyz has become a prominent player in the entertainment scene in Kenya.
Breaking down borders: How single currency policies can empower African family businesses
Mutendi posits that a single currency policy focused primarily on trade will provide a range of benefits for family businesses doing business in Africa.
Flutterwave, led by billionaire Gbenga Agboola, inks technology agreement with Bill Gates’ Microsoft
Flutterwave, under Agboola’s visionary leadership, has emerged as a prominent player in the African tech ecosystem.
South African billionaires Patrice Motsepe, Johann Rupert score another rugby club takeover
A consortium linked to Motsepe and Rupert has purchased a 74-percent stake in the Boland Cavaliers.
Tanzanian billionaire Mohammed Dewji wins Industrialist of the Year Award
Dewji was named “Industrialist of the Year” at the All Africa Business Leaders Awards annual gala in South Africa on Friday.