South African tycoon Jannie Mouton gains $94 million from Capitec’s stake
Mouton, one of the co-founders of Capitec Bank, owns a 5.11-percent stake in the bank through the J.F. Mouton Familietrust.
African Billionaires
Swazi billionaire Natie Kirsh gains $210 million in 18 days
The primary driver behind this growth is the exceptional performance of Jetro Holdings, a New York-based consumer goods holding company in which Kirsh holds a 75-percent stake.
Glencore-led by South African executive Gary Nagle eyes $46-billion British mining firm
Glencore’s recent interest in Anglo-American comes roughly three months after expressing interest in acquiring Shell’s refinery and petrochemical complex in Singapore.
Egyptian billionaire Yasseen Mansour loses $5.1 million from Palm Hills stake
Despite the recent decline in the market value of his holding in Palm Hills, Mansour remains one of Egypt’s wealthiest men.
South African tycoon Gus Attridge gains nearly $12 million from Aspen shares
Attridge, Aspen’s group chief advisor, and a JSE heavyweight, holds a 4.3-percent stake in the pharmaceutical company, amounting to 19,033,829 ordinary shares.
Eaton under Black CEO Craig Arnold reports Q1 2024 sales topping $5.9 billion
The Arnold-led intelligent power management company benefited from robust demand in its Electrical Americas segment.
Nigerian tycoon Tony Elumelu’s UBA delivers $102.25-million profit in Q1 2024
Under Elumelu’s leadership, UBA’s total comprehensive income for the period also rose, from N51.03 billion ($36.56 million) to N581.47 billion ($416.7 million).
South African tycoon Johan Burger’s FirstRand stake gains $2.1 million in 15 days
Burger, a former CEO and non-executive director at FirstRand, owns a minority 0.11-percent stake, equivalent to 6,000,000 shares, in the leading financial services group.
Co-op Bank led by Gideon Muriuki secures $25.2 million to support women-owned businesses in Kenya
Muriuki, Co-op Bank’s CEO and managing director, welcomed the financing, emphasizing the critical need to bolster support for women-owned businesses.
Nigeria’s richest banker Jim Ovia loses $13.3 million from Zenith Bank stake
Despite this short-term setback, Ovia retains his position as Nigeria’s richest banker, underscoring his enduring success as a prominent businessman in the country.
One of America’s richest Black CEOs, Craig Arnold loses $7.5 million from Eaton stake
This setback follows a period of notable loss of $6.2 million between April 5 and 13, when Arnold’s stake in Eaton decreased from $170.89 million to $164.68 million.
Ahmed El-Sewedy-led electric group seals deal to advance grain silos industry in Egypt
This initiative aligns with the Egyptian government’s food security strategy of localizing grain silo manufacturing.
Africa’s richest man Aliko Dangote’s sugar firm aims to end sugar imports by 2028
Dangote highlighted the importance of the government’s national backward integration policy, which aims to create a self-sufficient domestic sugar industry by incentivizing local producers.
Ugandan tycoon Charles Mbire’s MTN Uganda hits 20 million customer milestone
MTN Uganda boasts an impressive 98 percent coverage area, serving a vast majority of the Ugandan population.
Backed by billionaire Patrice Motsepe, GoSolr unveils $538.5-million South Africa expansion
Founded in 2021, GoSolr has been at the forefront of making solar energy accessible, affordable, and flexible for all.
Moroccan billionaire Othman Benjelloun loses $41 million from Bank of Africa stake
Benjelloun remains not only Morocco’s second-wealthiest individual after Prime Minister Aziz Akhannouch but also one of the most prosperous investors on the local bourse.