Tyler Perry halts $800-million studio expansion in Atlanta after OpenAI’s Sora launch
Perry reportedly expressed reservations about AI’s impact on creative storytelling and its ability to replicate the human touch in filmmaking.
African Billionaires
Fortunes to Felony: The Merciless Bludgeoning of a Forbes Folk Hero
The media’s narrative craftsmanship shines through in the saga of dos Santos, where the portrayal of Africa’s former richest woman ascends into fame and descends into infamy.
Africa’s largest salt mine owner advocates for secure global pharmaceutical salt supply
Daniel McKorley’s key recommendation was the establishment of a global consortium to ensure a steady pharmaceutical salt supply.
Fani Titi-led Investec secures Takealot as tenant for $313-million logistics park
The move highlights the diversified nature of its business, extending beyond financial services.
Mauritian tycoon Arnaud Lagesse’s IBL nearly doubles half-year revenue to over $1.1 billion
Arnaud Lagesse, along with his siblings Benoit, Hugues, Jean-Pierre, Thierry, and Stephane Lagesse, collectively holds a substantial 16.8-percent joint stake in IBL Group.
Moroccan tycoon Lamia Tazi’s Sothema strikes major deal to boost healthcare in Mauritania
Sothema and CAMEC: Collaborative commitment to addressing healthcare challenges in Mauritania/
Led by South African Ackerman family, Pick ‘n Pay plans $210-million rights issue, listing of Boxer
Pick ‘n Pay announces plans for a rights issue to raise up to R4 billion ($210 million) and the listing of its discount grocery chain, Boxer.
Shoprite backed by South African tycoon Christo Wiese secures $64 million from Standard Bank
The funding, part of Shoprite’s ongoing expansion initiative, is set to address the anticipated volume and logistics demands for the next decade.
Hassanein Hiridjee’s AXIAN Group acquires solar assets in Madagascar and Burkina Faso
This acquisition follows AXIAN’s collaboration with GreenYellow a year ago, which brought a groundbreaking 1.8MW solar photovoltaic power plant to Madagascar’s Sava region.
Nigerian tycoon Michael Nzewi’s firm sells stake in i-Fitness for $12 million
The transaction, valued at $18.5 million, marks a significant achievement for Cardinal Stone, which realized $12 million from the sale of its 65-percent stake in i-Fitness.
Nigerian tycoon Wale Tinubu promotes resilient oil and gas value chain at Guyana Energy Conference
At the Guyana Energy Conference, Tinubu emphasized the imperative of fostering conducive environments for the oil and gas industry’s growth.
South African tycoon Neal Froneman-led Sibanye suffers $2.52-billion impairment
Froneman, instrumental in driving Sibanye’s transformation into a leading producer of platinum, palladium, and gold, presently holds a 0.3-percent stake in the group.
Nigerian tycoon Tony Elumelu urges private sector approach to unlock national asset value
Elumelu’s influence extends beyond his roles at UBA, where he serves as chairman, and other entities like Transnational Corporation of Nigeria Plc and Heirs Holdings.
Africa’s richest man Aliko Dangote faces $1.4-billion net worth plunge in 24 hours
The major driver behind this sudden fall is the recent decline in the market value of his substantial holdings in Dangote Cement Plc.
Beyonce launches Cecred, her first-ever hair care line
Early in May 2023, Beyonce began dropping hints about Cecred during the Renaissance Tour, and now the line has been officially introduced to the market.
Egyptian billionaire Ahmed Ezz rakes in $45 million in 2 weeks
His stake, which translates to a total of 329,816,198 shares in the steel giant, has solidified his position among the richest investors on the Egyptian Exchange.