South African tycoon Zunaid Moti steps down from business empire over fraud charges
Moti is the founder of Moti Group, a large South African conglomerate.
African Billionaires
Zimbabwean tobacco tycoon Simon Rudland to sue Al-Jazeera over gold smuggling allegations
Rudland is the owner of Gold Leaf Tobacco, one of the most popular cigarette brands in Southern Africa.
LeBron James scores big: Net worth soars past $1 billion with $150-million gain in 2023
James is one of the world’s wealthiest Black individuals.
Swazi billionaire Natie Kirsh bounces back with $230 million gain after early 2023 losses
Kirsh also owns 54 percent of Sydney-based Abacus Property Group.
Nigerian oil tycoon Adewale Tinubu’s Oando rebounds from losses, profit soars above $75 million
Oando is a Nigerian integrated energy solutions provider.
Nigerian banking magnate Jim Ovia’s Zenith Bank posts $486.4 million in profit in 2022
Ovia owns a substantial 16.2-percent stake in Zenith Bank.
Nigerian billionaire Femi Otedola urges incoming gov’t to fix electrcity transmission
Otedola is the chairman of Geregu Power Plc, a publicly traded power generating company.
Nigerian businessmen Kola Aluko, Jide Omokore forfeit $53 million to U.S. Justice Department
Aluko and Omokore paid bribes to Nigeria’s former petroleum minister to corner juicy contracts.
Nigerian tech entrepreneur Shola Akinlade buys European football club one year after launching club in Lagos
Akinlade is now the majority owner of Aarhus Fremad.
South African executive Alan Pullinger loses $1.8 million from investment in FirstRand
Pullinger holds a 0.1-percent stake in the Gauteng-based financial services provider.
Led by Egyptian Ghabbour family, GB Auto gets green light to rebrand as ‘GB Corp’
The Ghabbour family owns a 62.9-percent stake in GB Auto.
Kenyan banker James Mwangi’s Equity Group smashes records, surpasses $350-million profit in 2022
Equity Group Holdings is a leading financial services group.
Dar es Salaam-based tycoon Hans Macha rakes in $1.2 million in three months from stake in CRDB
Macha owns 1.9 percent of CRDB Bank.
Nigerian philanthropist Afe Babalola donates $12.2 million to King’s College London to empower African youths
The generous contribution will be used to establish the Afe Babalola African Center for Transnational Education at King’s College London.
Adidas drops Beyonce’s Ivy Park collab amid $10-million loss
The decision to end the partnership followed reports that Adidas suffered a loss of $10 million in 2022.
Abdul Samad Rabiu’s net worth skyrockets to $8.2 billion, now closer to being Africa’s third-richest person
Rabiu is also one of the continent’s most prominent philanthropists.