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.
African Billionaires
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.
Kevin Hart’s Hartbeat names former Warner Bros exec Jay Levine as CEO
Levine’s appointment follows the departure of former CEO Thai Randolph in November, concluding her nearly decade-long tenure.
Africa’s first female billionaire Isabel dos Santos challenges corruption charges
Dos Santos has launched a counteroffensive with a detailed cover story featured in the Portuguese magazine Expresso.
Bernard Berson drives Bidcorp to record-breaking $6.04-billion half-year revenue
Berson, who has been the CEO of Bidcorp since 2016, commended the exceptional revenue figures and financial performance.
New York Judge upholds seizure of Damon Dash’s shares, despite Jay-Z’s protests
The court’s decision comes in the wake of Dash’s alleged refusal to pay a $823,000 judgment to movie producer Josh Weber, dating back to a 2018 dispute.
Backed by South Africa’s richest man, Seacom eyes deals in East and West Africa
Seacom CEO Alpheus Mangale revealed the company’s growth strategy, highlighting the crucial role of acquisitions in its expansion plans.
Laurence Rapp-led Vukile raises $18.9 million for deals in Spain and South Africa
The move is aimed at fortifying the fund’s balance sheet, providing it with increased financial flexibility for potential acquisitions in both South Africa and Spain.