Shoprite, linked to billionaire Christo Wiese, posts $177 million in profit in H1 2023
Wiese’s stake in Shoprite is worth over $900 million.
African Billionaires
Femi Otedola’s Geregu poised to transform Nigeria’s power industry with 1,300 MW surge
Otedola’s Geregu Power is the eighth most valuable company on the Nigerian Exchange.
Ugandan tycoon Charles Mbire’s MTN Uganda beats profit expectations, rakes in over $100 million
Mbire is the wealthiest investor on the Uganda Stock Exchange.
Nigerian energy titans Orjiako, Avuru to pocket $6.46 million in dividends
Orjiako and Avuru are the founders of Seplat Energy.
Family of late Kenyan tycoon Naushad Merali rakes in $2.33 million in single day from Sasini Tea stake
The Merali family is the majority shareholder of Sasini.
Tech billionaire Gbenga Agboola’s Flutterwave denies losing $6.3 million to hackers
This development comes just three weeks after the fintech unicorn regained access to $52.5 million in frozen funds.
South African billionaire Patrice Motsepe’s ARM surpasses expectations with $280 million H1 2023 profit
African Rainbow Minerals is a diversified mining group led by South African billionaire Patrice Motsepe.
Beninese tycoon Dare Okoudjou’s MFS Africa partners with Western Union to facilitate payment in over 200 countries
Okoudjou founded MFS Africa in 2009.
Somali businessman Jibril Hassan Mohamed’s Premier Bank to acquire struggling Kenyan lender, FCB
Premier Bank is a privately owned commercial bank that adheres to Sharia law.
Kenyan tycoon Baloobhai Patel’s Carbacid smashes expectations with $3.2-million profit in 2022
Patel owns a 49.9-percent stake in Carbacid Investments Limited.
Nigerian banking magnate Jim Ovia’s Zenith Bank receives approval to restructure into a holding company
Ovia has been appointed as the chairman of Zenith Holdco Plc.
Microsoft joins forces with Strive Masiyiwa’s Liquid to bring Internet to underserved African communities
Liquid is a subsidiary of Cassava Technologies, a pan-African technology company.
South African billionaire Stephen Saad eyes million-dollar deals to revive COVID-19 vaccine production lines
Aspen Pharmacare Holdings is a South African multinational pharmaceutical holding company.
Nicky Oppenheimer, Africa’s third-richest man, loses $430 million in 26 days
The recent decline can be attributed to the performance of his private equity investments.
Egyptian businessman Ahmed El Sewedy’s electric company records over $185 million in profit in 2022
El Sewedy Electric specializes in the production of electrical equipment and cables.
Adidas faces $10-million loss as Beyonce’s Ivy Park fails to meet expectations
Beyonce’s success extends beyond her music empire.