Gemfields, linked to South African billionaire Desmond Sacco, sells Fabergé for $50 million
Gemfields is selling luxury jeweler Fabergé to SMG Capital for $50 million, refocusing on core mining operations in Mozambique and Zambia.
Billionaire Africa
South African executive, Gary Nagle, leads Glencore to $231 billion revenue in 2024
Despite the topline growth, adjusted EBITDA dropped 16 percent to $14.4 billion, weighed down by lower energy coal prices.
South African billionaire Patrice Motsepe re-elected unopposed as CAF President
His leadership has reshaped CAF’s financial outlook, attracting record sponsorship deals and boosting revenue streams.
Senegalese mogul Yérim Sow faces international arrest warrant over fraud charges
Benin issues warrant for Sow and collaborator, signaling a crackdown on economic crimes in West Africa.
Standard Chartered and BII renew $350-million trade finance agreement to drive growth across Africa and South Asia
Standard Chartered and BII expand their trade finance partnership, injecting $350 million to boost economic growth across Africa and South Asia, with a focus on sustainable development and empowering small and medium-sized businesses.
Swazi billionaire Natie Kirsh gains $340 million in five days
Kirsh’s net worth is now estimated at $7.82 billion.
Nigerian gambling magnate Kessington Adebutu, daughter pocket $1.22 million in Wema Bank dividends
Adebutu is expected to earn $1.05 million, while his daughter is on course to earn $169,965.
Nigerian entrepreneur Abdul Hassan’s Mono raises millions to power Internet economy
The Nigerian fintech startup Mono has closed a $2-million deal in a seed funding round.