Retail tycoon Mark Lamberti’s Massmart moves to withdraw 14 Game stores from East and West Africa
The withdrawal comes as part of a strategic move to focus on its primary market.
African Billionaires
The 10 Kenyan executives who took home the highest salary in 2020
Executives in top Kenyan companies received decent pay in 2020 despite the impact of the COVID-19 pandemic.
Andrew and James Ndegwa set to pocket $944,500 interim dividend from Kenya’s NCBA Group
The two brothers own a joint stake amounting to 138,525,913 ordinary shares in NCBA Group.
Herbert Wigwe’s Access Bank posts $211.1-million mid-year profit on back of robust balance sheet
The leading lender continues to leverage its diverse earnings stream to generate value for shareholders.
Aviation tycoon Allen Onyema signs sponsorship deal with Nigerian Football Federation
The deal makes his Air Peace the official airline carrier of the country’s national football teams.
10 female mining tycoons in South Africa worth knowing
South Africa’s mining sector is a notable driver of the economy, employing a significant portion of its workforce.
Nigerian banking tycoon Jim Ovia to pocket $3.7-million interim dividend from Zenith Bank
The dividend will be paid from the bank’s $257.8 million in profits earned in the first half of 2021.
John Gachora-led NCBA Group reports 77-percent growth in mid-year profit
A strong underlying performance across key segments of its business saw its profit increase by double digits.
The 10 investors on the Nigerian Exchange with the highest gains in 2021
Founders and investors on the Nigerian Exchange have seen their wealth rise astronomically since the start of the year.
Peter Steekamp’s Harmony Gold unveils gold extension projects worth $537 million
Harmony Gold is South Africa’s most extensive gold mining company. It also operates in Papua New Guinea.
Africa’s wealthiest man Aliko Dangote loses $232 million in 24 hours as Dangote Cement shares plunge on NGX
Dangote Cement is a subsidiary of Dangote Industries Limited, Africa’s most diversified manufacturing conglomerate.
From Mauritius to Nigeria, 25 family businesses to look out for in Africa
Here is some key information about how they began and the value that they are adding to the continent.
Tunisian businessman Mehdi Tamarziste’s stake in UBCI loses $3.7 million in 132 days
The multimillion-dollar loss in his stake was triggered by investor profit-taking actions.
Abdul Samad Rabiu’s BUA Group signs MoU to build plaster of Paris production plant
BUA Group will construct the 2,000-tonne-per-day plant with the Turkish MMM Erba Makina.
Chobe Holdings Deputy Chairman Jonathan Gibson loses $5.1 million in 123 days
The value loss in his equity stake in the business came off a double-digit decline in the group’s shares.
Nigerian pharma tycoon Stella Chinyelu Okoli to manufacture active pharmaceutical ingredients
Her company Emzor is a leading pan-African manufacturer and distributor of medical supplies.