South African tycoon Barry Swartzberg sees $11-million gain in Discovery stake
This upswing reaffirms Swartzberg’s position as a prominent figure among South Africa’s wealthiest businesspeople and leading investors on the JSE.
African Billionaires
Nigeria’s richest banker Jim Ovia’s Zenith Bank gets shareholder nod for holding company plan
This strategic shift positions Zenith Bank to adapt and thrive in the ever-evolving financial services ecosystem, solidifying its position as a leader in innovation and value creation.
South African tycoon Laurie Dippenaar’s FirstRand advises on $160-million beverage deal
RMB, the corporate and investment banking arm of FirstRand advised on a groundbreaking $160-million deal.
South African tycoon Adrian Gore’s Discovery stake surges by more than $37 million
The single-digit percent uptick in Discovery shares has boosted the market value of Gore’s stake by R697.27 million ($37.42 million) in the past 10 days.
Egyptian billionaire Ghabbour family loses $32.1 million in 12 days
The Ghabbour family, Egyptian billionaires, have experienced a notable decrease in their wealth as the market value of their holding in GB…
South African billionaire Michiel Le Roux gains $100 million in 41 days
The recent uptick in his fortune can be attributed to the performance of his 11.39-percent stake in Capitec Bank.
Led by Tunisian Ben Yedder family, Ennakl posts $45.1 million in revenue in Q1 2024
Ennakl Automobiles, a Tunisia-based car dealership is majority-owned (53.3 percent) by the billionaire Ben Yedder family.
Egypt’s El-Sewedy family loses $136.5 million from Elsewedy Electric shares
Despite this financial setback of EGP136.55 billion ($136.53 million), the El-Sewedy family remains one of Egypt’s leading billionaire families.
Egyptian businessman Medhat Khalil loses $8.6 million from Raya Holdings stake
Despite this recent downturn, Khalil remains a notable investor in the Egyptian Exchange and continues to be recognized among the country’s wealthiest individuals.
Sibanye-Stillwater stumbles under South African tycoon Neal Froneman with $132-million loss in 2023
The $132.1-million loss stemmed from writedowns on subsidiary investments totaling $2.27 billion under Froneman, reflecting lower prices for platinum, palladium, and rhodium.
South African tycoon Jens Montanana loses $2.4 million from Datatec stake
Montanana’s significant shareholding continues to position him as one of the wealthiest investors on the JSE.
Nigerian president appoints country’s richest banker to head student loan fund
With Ovia in charge, the fund aims to remove financial barriers hindering students’ educational ambitions.
Egyptian tycoon Hassan Allam’s group wins signaling contract for UAE-Oman railway link
The 303-kilometer Abu Dhabi-Sohar railway link will feature state-of-the-art, desert-proof ETCS Level 2 signaling, telecoms, and power supply systems.
Dangote’s half-brother Sayyu Dantata’s MRS tops $60 million in revenue in Q1 2024
Revenue for the first three months of 2024 climbed to N79.16 billion ($62.6 million), up from N30.78 billion ($23.83 million) in the prior-year period.
Aga Khan IV takes $3.5-million hit from stake in Nairobi-based insurer Jubilee
The follows a notable surge of Ksh481.15 million ($3.63 million) recorded between March 19 and 29.
Ethiopia’s richest man Mohammed Al-Amoudi loses $260 million in two weeks
This follows a $320-million gain in Al-Amoudi’s net worth between March 28 and April 12.