South African tycoon Giovanni Ravazzotti suffers $16.8-million loss from Italtile stake
Despite the loss, Ravazzotti retains his position as one of the wealthiest investors on the JSE and one of South Africa’s most prosperous businessmen.
African Billionaires
Moroccan tycoon Lamia Tazi’s Sothema stake slumps below $60 million
Despite the recent decline in her fortune, the Moroccan executive remains among the affluent investors on the Casablanca bourse.
South African mining mogul Neal Froneman’s Sibanye stake hits $10.5 million
This surge in his fortune cements Froneman’s position as a key figure in South Africa’s mining sector.
Bank linked to Nigerian tycoon Atedo Peterside posts $108.9-million profit in 2023
Founded in 1989 as an investment bank, Stanbic IBTC had Atedo N.A. Peterside as its first CEO.
Nigerian tycoon Paul Onwuanibe’s firm addresses Lagos-Calabar road project concerns
Landmark Africa boasts a 20-year history and a diverse portfolio exceeding 130,000 square meters of mixed-use space.
Discovery shares plunge, costing South African tycoon Adrian Gore $43.2 million
Despite the recent decline, Gore remains a top figure on the JSE.
Africa’s first Black billionaire Patrice Motsepe loses $100 million in six weeks
The decline is a significant blow to Motsepe’s wealth, as his holding in ARM represents a substantial portion of his net worth.
Tony Elumelu-linked distribution company faces sanctions for violating new electricity tariffs
NERC levied a N200-million ($0.468 million) fine against AEDC for incorrectly billing customers outside Band A – those exempt from the tariff increase – at the higher rates.
Namibian tycoon Quinton van Rooyen’s Trustco to postpone $61.7-million loan repayment
Trustco is primarily owned and managed by the Namibian van Rooyen family, which holds a substantial 63.94-percent ownership stake, or 1,004,000,060 ordinary shares.
South African billionaire Christo Wiese’s Shoprite employee trust pays out $27 million in two years
Established in May 2022, the SET is a non-vesting, perpetual trust funded with 40 million Shoprite Checkers shares valued at R8.9 billion ($478.07 million).
South African tycoon Gerrie Fourie gains $5.5 million from his shares in Capitec Bank
This uptrend adds to his previous gains, with his stake increasing by $8.6 million between Jan. 4 and Mar. 9.
Egyptian tycoon Hisham Talaat Moustafa suffers $180-million loss in 26 days
Moustafa holds a controlling stake of 43.16 percent in the group, representing 890,633,483 ordinary shares.
Nigerian banker Aigboje Aig-Imoukhuede-led Access Holdings discloses $8.47 billion in contingent liabilities
Critics have previously expressed concerns that Access Holdings’ historical reporting practices may have obscured the true scale of its legal issues.
Egyptian tycoon Safwan Thabet’s Juhayna records $340-million revenue in 2023
Juhayna’s exceptional financial results for 2023 highlight its resilience in navigating the dynamic landscape of the fast-moving consumer goods industry in North Africa.
South African billionaire Michiel Le Roux’s Capitec Bank stake gains $60 million in 24 hours
This surge not only cements Le Roux’s status among South Africa’s billionaires but also strengthens his reputation as a key investor on the JSE.
Nigerian billionaire Abdul Samad Rabiu leads educational advancement with ASR Africa Initiative
ASR Africa has initiated the construction of a state-of-the-art administrative block and conference room at Al-Qalam University in Katsina State, Nigeria.