Wema Bank backed by Nigerian gambling magnate hit by over $500,000 fraud loss
The bank’s annual report revealed N685.59 million ($593,000) in fraud losses during the year.
African Billionaires
FirstRand shares slump costs South African tycoon Laurie Dippenaar $10.3 million
Dippenaar maintains his position as one of South Africa’s leading investors and one of the most affluent business executives across the African continent.
South Africa’s richest person Johann Rupert’s net worth soars $200 million in a day
After a challenging period, South Africa’s richest person Johann Rupert has seen his net worth rebound by $200 million in the past…
South African tycoon Adrian Gore’s Discovery stake slumps by nearly $40 million
Despite the recent plunge, Gore remains a prominent figure on the JSE and one of South Africa’s wealthiest businessmen.
Backed by Kenya’s richest families, NCBA provides $11.96-million loan to Mauritius firm
Partially owned by prominent Kenyan families such as Kenyatta, Merali, and Ndegwa, the conglomerate remains steadfast in strengthening operations within Kenya while expanding its footprint across the region.
Dangote’s fortune rebounds above $17 billion as naira leads global currencies in April
Dangote remains Africa’s richest person and the world’s wealthiest Black billionaire. His net worth has surged past $17 billion.
Malawian businessman Hitesh Anadkat gains nearly $16 million from FMB Capital
This recent bump in his fortune comes after his stake in FMB Capital Holdings declined by $6 million between Feb. 1 and March 9.
Egypt’s richest man loses $350 million in just six days
The leading Egyptian billionaire has seen his ranking on the Bloomberg Billionaires Index slip following a decline in the market value of his holdings.
South African tycoon Jens Montanana loses $5 million from Datatec stake
Montanana’s substantial shareholding continues to cement his status as one of the wealthiest investors on the JSE.
Nigerian real estate magnate Paul Onwuanibe says coastal highway construction unlikely to disrupt resort
Last week, Onwuanibe engaged with key stakeholders, including representatives from the Lagos State Government, Federal and State Ministries of Tourism, and the Federal Ministry of Works and Housing.
Nigerian banker Segun Agbaje-led GTCO seeks $750-million capital raise
The capital raise aligns with the Central Bank of Nigeria’s (CBN) recent increase in minimum capital requirements for the country’s largest banks.
Kenyan investment banker Jimnah Mbaru gains $1.2 million in 37 days
Thanks to the surge in Britam shares, Mbaru’s stake in the Kenya-based diversified financial services group is worth Ksh748.8 million ($5.77 million).
Africa’s first Black billionaire Patrice Motsepe’s fortune rebounds by $200 million
The surge in Motsepe’s fortune is linked to the performance of his 45.9-percent stake in African Rainbow Minerals (ARM).
Botswana tycoon Gulaam Abdoola’s Turnstar sees rental revenue top $24 million
Turnstar anticipates a significant year-on-year increase in pre-tax profit for the fiscal year ended Jan. 31, 2024, under Abdoola’s leadership.
South African tycoon Jannie Mouton’s Capitec stake slumps by $57.4 million
Despite the recent setback, Mouton still holds his position as one of the most affluent investors on the JSE and remains one of the wealthiest individuals in South Africa.
Ethiopia’s richest man Mohammed Al-Amoudi’s Preem posts $12.6-billion revenue in 2023
Al-Amoudi derives a significant portion of his wealth from his stake in Preem, which surged from $3.74 billion on Jan. 1 to $3.88 billion recently.