Kenyan mogul John Kimani’s Kakuzi sees revenue top $40 million in 2023
Kimani, a significant shareholder with a 33.3-percent stake in Kakuzi, is positioned to receive a substantial portion of the group’s dividend payout.
African Billionaires
Egyptian tycoon Hassan Allam’s group wins $346-million contract for Saudi entertainment complex
The Al Kharj Entertainment Complex will be positioned between the cities of Abha and Khamis Mushait near Abha International Airport, covering 64,000 square meters.
South African exec Josua Malherbe faces $2-million loss from Remgro shares
Malherbe, Remgro’s non-executive co-deputy chairman, is one of Remgro’s largest individual shareholders with a holding of 1,178,995 ordinary shares.
Egypt’s second-richest person Naguib Sawiris sees net worth top $6.5 billion
Sawiris’ recent surge underscores his significant influence in the Middle East and North Africa and his ascent among the world’s elite billionaires.
Led by South African exec July Ndlovu, Thungela reports $263 million in earnings in 2023
Since its 2021 demerger from Anglo-American, Thungela has undergone significant expansion under Ndlovu.
South African tycoon Adrian Gore’s Discovery targets U.S. healthcare market
Gore expressed confidence in penetrating the U.S. market further, leveraging the success and innovation that Discovery has pioneered in the wellness space.
Investec, led by South African exec Fani Titi, eyes 10-percent rise in earnings
Under Titi’s leadership, Investec has demonstrated resilience and growth despite challenging market conditions.
South African billionaire Stephen Saad gains $49 million as Aspen shares soar
This increase cements Saad’s position in the South African business scene, placing him among the leading investors on the JSE.
Kenyan banker Gideon Muriuki gains $2.6 million from Co-op Bank stake
Gideon Muriuki’s $2.6 million gain underscores the positive impact of his leadership at Co-op Bank.
Nigerian businessman Tony Elumelu’s UBA stake nears $50 million
As his stake in UBA approaches $50 million, Elumelu’s influence and commitment to Africa’s economic prosperity remain undeniable.
FSCA seeks $25-million fine from estate of late South African mogul Markus Jooste
The announcement comes in the wake of Jooste’s tragic demise, which occurred on Thursday, a day after the FSCA levied a penalty of $25 million against him.
Nigerian banker Jim Ovia’s Zenith Bank invests in Niteon to boost digital export infrastructure
Zenith Bank’s decision to invest in Niteon underscores its dedication to fostering economic growth and innovation across Africa.
Kenyan banker Gideon Muriuki leads Co-op Bank to record $170-million profit in 2023
Muriuki, who was instrumental in the Co-op Bank’s expansion, owns a two-percent stake in the leading financial services group.
Sibanye led by South African exec Neal Froneman completes $155.9-million acquisition of U.S. metal business
The $155.9-million cash purchase consideration for Reldan was financed through a $500-million senior unsecured guaranteed convertible bond issued in November 2023.
Nigerian businessman Tony Elumelu awards $5-million seed capital to 1,000 African entrepreneurs
Each recipient is set to receive a $5,000 non-refundable seed capital to kickstart their entrepreneurial endeavors.
Egypt’s richest man Nassef Sawiris makes $230 million in just 2 weeks
Egypt’s richest man Nassef Sawiris has experienced a remarkable upswing in his fortunes, with his net worth skyrocketing by $230 million in…