Access Holdings posts $113.1-million Q1 profit under Nigerian banker Aigboje Aig-Imoukhuede
The group finds renewed support with the return of Aig-Imoukhuede, a business and philanthropic leader, following the passing of banking titan Herbert Wigwe.
African Billionaires
Egyptian banker Karim Awad leads EFG Hermes in $12.5-million debt issuance for HSB
The issuance marks a significant milestone for EFG Hermes, representing its fifth such issuance and the second within a pre-approved EGP2-billion ($41.8 million) program.
Moroccan pharma tycoon Lamia Tazi suffers $2-million loss from Sothema stake
The recent financial setback experienced by Tazi underscores the broader challenges facing Sothema and highlights the unpredictable nature of the stock market.
Egyptian magnate Abdallah Sallam’s Madinet Masr’s Sheya project records $106.6 million in sales
Located near the New Administrative Capital on a 228,212-square-meter plot, Sheya is slated for completion within four years.
South African billionaire Ivan Glasenberg loses $240 million in 17 days
The $240-million decline is primarily attributed to the recent decrease in the market value of his 9.81-percent stake in Glencore.
Sugar business of Africa’s richest man records nearly $50-million loss in Q1 2024
Dangote Sugar’s $49.6-million first-quarter 2024 loss stemmed primarily from a $74-million foreign exchange loss from the group’s business operations.
South African billionaire Stephen Saad gains $32.2 million as Aspen shares soar
This increase underscores Saad’s significant influence in South Africa’s business landscape, elevating him among the top investors on the JSE.
Nigerian tycoon Tony Elumelu’s Transcorp reports $25.5-million profit in Q1 2024
The impressive performance is attributed to a significant revenue increase of 173 percent to N88.55 billion ($62.9 million) compared to N32.4 billion ($23 million) in Q1 2023.
Sam Darwish’s IHS Holding stake gains $7.4 million in 13 days
The double-digit rise in the shares of IHS Holdings has added $7.4 million to the market value of Darwish’s stake in the last 13 days.
Algerian-born French entrepreneur Sue Nabi gains $27 million from Coty stake
This follows a decline of $83.6 million between February 27 and April 16, when her stake dropped from $401.8 million to $318.2 million.
South African billionaire Saltzman family gains $23 million from Dis-Chem stake
The family’s recent financial gains come after experiencing losses between March 22 and April 18, during which the family’s joint stake in Dis-Chem fell by $44.1 million.
Nigerian tycoon Tony Elumelu’s Transcorp Hotels to invest $200 million in Ikoyi hotel
In addition to the Ikoyi hotel development, Transcorp Hotels is nearing completion of a state-of-the-art event center with a 5,000-person capacity, slated for inauguration in August.
Zenith Bank to pay Nigeria’s richest banker Jim Ovia $12.7 million
Ovia, who holds a 16.18-percent stake in Zenith Bank, equivalent to 5,072,104,311 shares, stands to receive N17,752,365,089 ($12,771,215).
Egypt’s second-richest man loses $200 million in 3 weeks
Sawiris’ net worth currently stands at $6.53 billion, ranking him 422nd globally. This reflects a recent decline from a peak of $6.73 billion reached on April 9, 2024.
Salt company of Africa’s richest man registers $17-million revenue in Q1 2024
As the majority owner of NASCON, Dangote’s stake in the salt and seasoning processing company is worth over $74 million.
Nigerian billionaire Abdul Samad Rabiu’s food business records $261-million revenue in Q1 2024
Revenue growth was fueled by a significant increase in sugar sales. the strong performance expands its lead as Nigeria’s top food conglomerate.