Mauritian tycoon Jean-Pierre Dalais’ CIEL posts $59.8-million half-year profit
This surge in profit can be attributed to the conglomerate’s adept cost-effective measures and strategic initiatives.
African Billionaires
Led by Egyptian exec Mohamed Adel, Roya sets sights on $1.2 billion in project sales
The Big Business District is poised to transform Cairo’s commercial landscape, offering a dynamic business hub characterized by modern design and functionality.
Burkinabe tycoon Idrissa Nassa’s Coris Bank secures $5-million facility from IFC
Under the leadership of Nassa, Coris Bank International expanded its footprint by launching Coris Bank International Guinea in 2021.
Nigerian serial entrepreneur Akintoye Akindele arraigned on $5.6-million fraud charges
Akindele, known for his roles as an entrepreneur, and venture capitalist pleaded not guilty to the charges during the arraignment.
Moroccan billionaire Othman Benjelloun loses $42.7 million from Bank of Africa stake
Benjelloun, who serves as the chairman of Bank of Africa, holds a noteworthy 27.41-percent stake in the institution, or 57,214,615 ordinary shares.
Nigerian billionaire Femi Otedola set to build staff housing at Lagos Law School
This move follows Otedola’s recent philanthropic initiatives aimed at supporting education and enhancing national security.
Zimbabwean tycoon Ken Sharpe unveils $100-million luxury estate project in the U.S.
In a call to action, Sharpe urged Zimbabweans in the United States to actively contribute to the nation’s growth.
America’s richest Black woman Oprah Winfrey steps down from Weight Watchers board
Winfrey’s choice to incorporate weight-loss medication into her routine, disclosed in December 2023, marked a shift from the usual discussions on weight control.
South African tycoon Neal Froneman-led Sibanye posts $2-billion loss
The poor financial performance comes on the heels of Sibanye’s aggressive acquisition strategy.
Egyptian billionaire Ahmed Ezz’s stake in Ezz Steel climbs by $64 million
Ezz, an influential figure in the Egyptian industrial landscape, currently owns 60.7 percent of Ezz Steel, equivalent to 329,816,198 shares.
South African executive Simon Crutchley guides AVI to $65 million half-year earnings
Simon Crutchley, who has served as CEO of AVI Limited since 2005, has played a pivotal role in steering the company towards sustained growth and success.
Aliko Dangote explores independent oil trading venture for $20-billion refinery
This strategic maneuver by Dangote is expected to bring about a significant transformation in power and profit dynamics within the petroleum industry,
French billionaire’s firm boosts bid for DStv owner, pushing valuation above $2.9 billion
Following the announcement of the increased offer, MultiChoice shares surged by 52 percent since the original bid on Feb. 1, with an additional 4.1-percent increase on Tuesday.
South African-born billionaire Patrick Soon-Shiong gains $800 million in 29 days
The recent surge in Soon-Shiong’s fortune is largely fueled by the notable increase in the market value of his 76-percent stake in ImmunityBio.
Egyptian tycoon Hassan Allam’s group expands presence with Riyadh headquarters
The inauguration of the Riyadh headquarters marks a significant milestone in Hassan Allam Holding’s international expansion.
Africa’s richest man dedicates refinery road to late Nigerian banker Herbert Wigwe
The announcement was made during a special event titled, Celebrating Herbert Wigwe – A Professional Legacy’ at Eko Hotel, Lagos.