Kenyan tycoon Suresh Bhagwanji Shah gains nearly $7 million from I&M stake
Over the past 41 days, I&M shares have experienced a notable upturn, resulting in an increase of Ksh919.35 million ($6.97 million) in the market value of Shah’s holdings.
African Billionaires
Moroccan real estate mogul Alami Lazraq nets nearly $18 million from ADI stake
This recent increase not only bolsters Lazraq’s net worth but also reaffirms his status as a leading investor on the Casablanca bourse.
Startup led by Nairobi-based entrepreneur secures $3-million investment from CFAO
According to Bhattacharya, CEO of BasiGo, the partnership with CFAO Group marks a significant milestone in the company’s journey.
South African tycoon Laurie Dippenaar loses $17.2 million in FirstRand shares
Despite the notable decline in his stake’s value, Dippenaar remains a top investor on the JSE and one of the most affluent business leaders on the African continent.
WPP Scangroup faces potential job cuts post $30-million lawsuit by Kenyan tycoon Bharat Thakrar
This decision, triggered by the challenges in meeting revenue targets, aims to align the firm with market demands and macroeconomic trends.
South African billionaire Saltzman family’s Dis-Chem stake gains $21 million
The $21.08-million increase in the market value of the Saltzman family’s stake in Dis-Chem solidifies their position as significant investors on the JSE.
South African tycoon Jonathan Jawno’s Transaction Capital sells Australian unit of Nutun
Aligned with its value-maximization strategy, Transaction Capital is also pursuing the separation of its WeBuyCars unit, targeting R1.25 billion ($65 million) in capital.
Ugandan tycoon Charles Mbire’s MTN Uganda reports $127.1 million in profit in 2023
Voice revenue rose 11.6 percent, while data and mobile money revenue surged 21.6 percent and 17.6 percent, respectively.
South African banker Sim Tshabalala-led Standard Bank provides $31.6 million in sustainable financing to CNBM
This initiative includes a R500-million ($26.4 million) invoice financing facility and a R100-million ($5.3 million) working capital facility.
Moroccan businessman Anas Sefrioui’s stake in ADH nears $600 million
Over the past three weeks, ADH’s share price has experienced significant growth, pushing the market value of Sefrioui’s stake up by MAD890.33 million ($88.19 million).
Kenyan banker Paul Russo-led KCB seeks $200-million loan for Kenyan subsidiary
KCB Bank Kenya’s loan book has surged in recent years, outpacing its deposit base.
South African billionaire Nicky Oppenheimer’s net worth climbs to $10.7 billion
With a current net worth of $10.7 billion, Oppenheimer ranks 223rd on the global wealth list.
Moroccan tycoon Lamia Tazi stake in Sothema rebounds above $60 million
Tazi’s recent financial gains are tied to the surge in Sothema’s stock on the Casablanca bourse.
Kenyan tycoon Bharat Thakrar initiates $30.2 million lawsuit against WPP plc
This move follows his suspension from the company in 2021 and his announcement in February of plans to sue WPP for £24 million ($30.2 million).
Media group with French billionaire ties buys stake in Senegalese production firm
Bollore-backed Canal+ has been actively expanding in Africa.
South African tycoon Gus Attridge’s stake in Africa’s biggest pharma company hits $215 million
Attridge’s recent financial triumph is attributed to the recent surge in Aspen Pharmacare’s shares on the Johannesburg Stock Exchange (JSE).