South African tech mogul Zak Calisto gains $41.7 million from Karooooo stake
This rise comes on the heels of a significant setback, where Calisto experienced a $26.41-million loss between Feb. 12 and Feb. 23.
African Billionaires
America’s second-richest Black billionaire David Steward gains $300 million in 20 days
Steward’s recent wealth surge underscores his prominence within the technology sector, his investment positions him favorably for continued prosperity in the foreseeable future.
Malawian businessman Hitesh Anadkat loses $6 million from FMB Capital stake
Despite the recent decline in the market value of his stake, Anadkat retains his position as one of the wealthiest investors on the Malawi Stock Exchange.
South African tycoon Gerrie Fourie gains $8.6 million in 65 days
Fourie’s stake in Capitec Bank has risen by R2.16 billion ($8.63 million) over the past 65 days, solidifying his position among South Africa’s top executives.
Egyptian billionaire Hisham Talaat Moustafa faces $727-million loss due to devaluation
Despite the setback and financial challenges, Moustafa remains a prominent figure in the Egyptian business landscape.
Nigerian-born British boxer Anthony Joshua secures $50 million in recent Riyadh bout
Beyond the financial rewards of his $50 million purse, Joshua’s victory represents a significant personal and professional triumph.
South Africa’s richest man Johann Rupert’s fortune surges to $14.1 billion
The $600-million recent surge in his fortune is linked to the performance of Rupert’s 9.14-percent stake in Richemont.
Tony Elumelu’s Heirs Energies expands gas supply operations to boost power generation in Nigeria
The recent success of Heirs Energies is linked to strategic acquisitions.
Nigerian billionaire Femi Otedola’s energy firm targets $23.9-million revenue in Q2 2024
According to the latest earnings forecast, the power-generating giant is optimistic about achieving a gross profit of N20.79 billion ($13.04 million) in the second quarter of 2024.
Africa’s first Black billionaire Patrice Motsepe’s ARM reports $157.8 million in earnings
Headline earnings plummeted by 43 percent, falling from R5.17 billion ($275.5 million) in the first half of 2023 to R2.96 billion ($157.8 million) in the same period of 2024.
South African exec Neal Froneman views Sibanye-Stillwater’s rights offer as a last resort
Speaking at the group’s annual results presentation, Froneman stressed that such an offer would be a last resort measure.
South African billionaire Patrice Motsepe-backed Sanlam posts $73-million profit in 2023
Sanlam CEO Paul Hanratty, a notable figure in South Africa’s business landscape, lauded the company’s robust delivery in the face of extraordinary challenges during the past fiscal year.
Elon Musk’s Starlink raises hardware prices by 112 percent in Nigeria
While Starlink has not officially addressed the reasons behind the price increment, the timing of the move coincides with Nigeria’s recent currency devaluation.
South African exec Shameel Joosub-led Vodacom launches digital skills initiative to combat youth unemployment
The initiative aims to provide free access to digital training courses through the newly unveiled Mzansi Digital Learning platform.
Led by South African Ackerman family, Pick ‘n Pay set to liquidate Baladakis Stores
As the legal battle unfolds, the retail industry watches closely to see the implications and outcomes of Pick ‘n Pay’s unprecedented move to liquidate a major franchisee in its extensive network.
South African billionaire Saltzman Family gains $41 million from Dis-Chem shares
Thanks to the recent upswing in Dis-Chem’s shares, the Saltzman family’s stake in Dis-Chem has surged by R776.36 million ($41.42 million) since Feb. 19.