Mr. Price to acquire Laurence Wernars’ Studio 88 Group for $225 million
Studio 88 group is the biggest independent retailer of branded leisure, lifestyle, and sporting apparel and footwear in South Africa.
African Billionaires
South African executive Gerrie Fourie receives salary of $6.3 million from Capitec Bank in 2022
Fourie, the current CEO of Capitec Bank, has received millions of dollars in compensation from the bank since joining the leading financial services provider in 2014.
Nigerian billionaire Abdul Samad Rabiu eyes $151.6 million in BUA Foods dividends
Rabiu and his son own 99.8 percent of the newly established food business segment.
Egyptian entrepreneur Ahmed Ashour’s Pylon raises $19-million seed round
Pylon was developed with the goal of addressing the $400 billion in losses and uncollected revenue in the distribution of energy and water.
South African billionaire Michiel Le Roux’s Capitec Bank posts earnings of over $570 million in 2022
Capitec Bank was founded 20 years ago by Le Roux and leading businessmen Jannie Mouton and Riaan Stassen.
Flutterwave billionaire CEO Olugbenga Agboola, faces allegations of financial misconduct
Agboola and Flutterwave have yet to respond to or deny the allegations made by the Nigerian investigative journalist.
Associates linked to Kenya’s late President Daniel Arap Moi will receive $3.4 million from two-year-old deal
The $3.4-million payout represents the balance from their stake in Transnational Bank sold to Access Bank in 2020.
Aliko Dangote, Africa’s richest man, gains $100 million as investors prepare for Q1 earnings
The wealth gains solidify his position as not only Africa’s richest man but also the world’s richest Black man.
Ashraf Sabry’s Fawry gains $53 million in single day after seeing over $123.4 million in block deals
Fawry is one of Africa’s leading fintech companies.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods posts $167.8 million in profit in 2021
The increase in the group’s profit can be attributed to a significant increase in the sales of its products.
Rise of the millennials next-gen leaders stepping up
Founders and incumbent leaders have the responsibility of legacy building.
Shell claims Nigerian billionaire Benedict Peters’ Aiteo owes $1.7 billion in oil loans
Founded by Peters in 2013, Aiteo is one of Nigeria’s largest indigenous oil exploration companies.
Egyptian entrepreneur Ayman Bazaraa’s Sprints raises $1.2 million to expand tech skills in Middle East and Africa
Sprints was founded in 2019 to bridge the tech talent gap among youths.
South African businessman Andre Du Plessis gains $16 million in 100 days from Capitec Bank
Du Plessis owns a beneficial 0.008-percent stake in the company, totaling 917,976 shares.
MTN Nigeria, led by Karl Toriola, receives approval to launch payment service bank
The approval comes five months after MTN Nigeria received preliminary approval from the Central Bank of Nigeria.
Billionaire Mike Adenuga to receive $3.1 million in dividends from Nigerian oil company
The $3.1-million dividend represents a 66.7-percent increase over the previous year’s dividend of $1.86 million from Conoil Plc.