Africa’s richest man Aliko Dangote’s conglomerate targets $30 billion revenue
Dangote, whose net worth stands at $15 billion, highlighted the pivotal role of recent restructuring efforts and strategic leadership appointments within the conglomerate.
African Billionaires
Africa’s first Black billionaire Patrice Motsepe’s ARM completes $3 million share purchase in Canadian firm
The acquisition marks a significant milestone for ARM, underlining its strategic move into high-growth potential mining ventures.
South African billionaire Saltzman family Dis-Chem expands into insurance market with OneSpark acquisition
The Saltzman family, renowned South African billionaires and founders of Dis-Chem Pharmacies, has enhanced its integrated healthcare program through a binding Share Subscription Agreement (SSA) with OneSpark Proprietary Limited and OneSpark Holdings Inc., a Delaware-incorporated corporation.
Egyptian tycoon Safwan Thabet’s profit moves to $10.12 million in Q1 2024
Juhayna Food Industries, a household name in Egyptian dairy, juice, and cooking products, has recently surpassed investor expectations with an extraordinary surge in profits.
Bank led by Nigerian billionaire Femi Otedola recovers $305-million loan from failed bank
Sources within First Bank confirmed that the CBN credited the lender before revoking Heritage Bank’s license.
South African billionaire Christo Wiese’s Brait unveils multimillion-dollar recapitalization plan
The recent move detailed a comprehensive recapitalization initiative designed to reduce the group’s net debt by $123 million, from $323 million to $200 million.
French billionaire’s firm makes mandatory bid for DSTV parent, MultiChoice in $2.9-billion deal
The tender offer will conclude on April 25, 2025, with regulatory results expected on April 29, 2025, as outlined in a combined circular released earlier this week.
Morocco’s royal family makes over $230 million from Attijariwafa Bank shares
This increase is attributed to a recent surge in the shares of the leading Moroccan bank on the Casablanca bourse.
South African businessman Christopher Seabrooke retires from Transaction Capital
Seabrooke’s decision to retire follows a series of transitions. In December 2022, he stepped down as the group’s independent non-executive chairman
RCL Foods, backed by South Africa’s richest man, to list Rainbow Chicken on JSE
Key Points: RCL Foods, a leading South African consumer goods and milling company backed by South Africa’s richest man Johann Rupert, has…
Egyptian billionaire Samih Sawiris sells UAE tourism company for $40 million
The $40 million transaction includes the entire share capital of RAK, which holds leasehold rights to The Cove Rotana Hotel, a 349-room luxury resort in Ras Al Khaimah.
South African billionaire Michiel Le Roux’s Capitec Bank eyes international markets
This ambitious move follows its acquisition of Avafin, a Cyprus-based online lender with operations across Europe and Latin America.
Morocco’s Royal family backs startup in $7-million pre-Series-A round
YoLa Fresh, a Moroccan agritech startup owned by Youssef Mamou and Larbi Alaoui Belrhiti, secured a $7-million pre-Series-A funding round.
Nigerian business tycoon Abdul Samad Rabiu begins construction of world-class research laboratory for FUL
The world-class research laboratory is one of many interventions under ASR Africa’s Tertiary Education Grants Scheme (TEGS), which is funded by ASR Africa’s $100-million Fund for Social Development and Renewal.
South African tech mogul Zak Calisto faces $17-million loss in Karooooo stake
Despite this setback, Calisto remains one of Africa’s leading tech entrepreneurs, underscoring Karooooo’s continued prominence in smart transportation management.
Egyptian billionaire Hisham Talaat Moustafa’s TMG stake falls below $1.1 billion
This follows a $59.19 million gain between May 15 and 23, when the market value of his shares climbed from EGP51.4 billion ($1.1 billion) to EGP54.1 billion ($1.16 billion).