Mining magnates Lucky Kgatle, Quinton van Der Burgh form JV to develop sustainable mining projects in Africa
The two partners hope to support historically disadvantaged actors in the mining industry.
African Billionaires
South African tycoon John Copelyn gains $41.8 million from stake in HCI
Copelyn owns a 6.49-percent stake in the Cape Town-based investment holding company.
U.S. billionaire Michael Bloomberg announces $242-million investment to deliver clean energy in Africa
The funds will supplement his existing philanthropic projects.
Egyptian billionaire Nassef Sawiris gains $1.27 billion from stake in OCI N.V.
The billion-dollar bump in his net worth is due to the company’s year-to-date gains.
Seplat Energy wants Nigerian energy mogul Bryant Orjiako to assist with critical tasks after retirement
Orjiako’s stake in Seplat Energy is valued at $118.5 million.
Nigerian billionaire Abdul Samad Rabiu’s BUA Group eyes lithium mining
BUA Group is a leading food, infrastructure, mining and manufacturing conglomerate.
Elloe, an AI-powered startup led by Kenyan entrepreneur Owen Sakawa, raises $1 million in pre-seed round
Elloe is an AI-powered, conversational commerce platform.
Digital risk for African family businesses
Cybercrime poses a serious threat to families of wealth.
South African mining mogul Neal Froneman fiercely defends his $18.9-million salary
In 2021, Sibanye-Stillwater’s executive directors and officers were handsomely rewarded, with $51.1 million in remuneration.
Founded by Joaquim David, Angolan oil explorer Somoil plans to go public
Somoil is the largest privately-owned oil exploration company in Angola.
Nigerian tech tycoon Mitchell Elegbe’s Interswitch secures $110 million in joint investment
Interswitch is Nigeria’s first e-payment service.
Jumia shares surge 14.8 percent following speculation of takeover by Nigerian tech tycoon Leo Stan Ekeh
Ekeh’s takeover of Jumia would likely make Zinox the largest e-commerce owner in Africa.
Nigerian oil billionaire Tein Jack-Rich declares interest in presidency
Tein Jack-Rich is the founder of Belemaoil Producing Limited.
South African businessman Zak Calisto to receive $11.68-million in dividends from Karooooo
Zak Calisto controls a 66-percent stake in Karooooo.
Kenyan banking tycoon Gideon Muriuki to pocket $882,400 in Co-operative Bank dividends
The dividend will be paid from the group’s retained earnings of $741.9 million at the end of 2021.
Led by Kenyan banker James Mwangi, Equity Group posts $102.4 million in profit in Q1 2022
This follows the lender’s record-high profit of $350.2 billion in 2021.