South African tycoon Barry Swartzberg's Discovery stake falls by $15 million
Barry Swartzberg’s Discovery stake falls $15 million as weak sentiment hits JSE financial stocks, thus cutting the insurer’s market capitalization.
Billionaires Africa
betPawa posts record $111 million profit in 2024
BetPawa, the African mobile betting platform founded by Kresten Buch, reported its biggest annual profit yet on surging digital wagers.
Australian mining tycoon Colin Ikin, tied to Chagoury family, targets Nigerian lithium rights amid Jupiter dispute
Colin Ikin, linked to Nigeria’s influential Chagoury family, pushes for Kaduna’s lithium rights as Jupiter Lithium fights to keep its permits.
Michael Jordan, Kobe Bryant card sells for nearly $13 million
A rare Michael Jordan and Kobe Bryant card sells for nearly $13 million, breaking records in sports collectibles.
Nigerian oil mogul Muazzam Mairawani plans $225 million U.S. IPO after $15 billion oil find
Nigerian tycoon Muazzam Mairawani’s MSM Group plans a $225 million U.S. IPO after discovering $15 billion in oil reserves to expand Nigeria energy ventures.
Egyptian billionaire Naguib Sawiris proposes land sales to ease debt burden
Egyptian billionaire Naguib Sawiris urges state land sales in dollars to tackle Egypt’s $157-billion debt and boost foreign reserves.
Beyoncé and Jay-Z, worth nearly $3.4 billion, face $110 million in debt
Despite $3.4 billion in wealth, Beyoncé and Jay-Z owe $110.55 million on their Bel-Air home, with mortgages and taxes adding up.
Misr Italia, led by Mohamed Khaled El Assal, to invest $227 million in Egypt real estate in 2025
The company has already deployed EGP5 billion ($103.3 million) and will channel another EGP6 billion ($124 million) in the coming months.
Malagasy tycoon Hassanein Hiridjee’s AXIAN Energy to build $53 million solar plants in Benin
AXIAN Energy partners with Sika Capital on a $53 million solar project to power 50,000 homes in Benin.
Patrick Bitature, one of Uganda’s richest men, faces $10 million legal setback
Ugandan tycoon Patrick Bitature faces $10 million legal setback from South Africa’s Vantage Mezzanine Fund II Partnership.
Moroccan developer Alami Lazraq sees stake recover to $700 million
Moroccan tycoon Alami Lazraq’s stake in Alliance rebounds to nearly $700 million as ADI shares surge on the Casablanca bourse, lifting Morocco’s real estate market.
Nigerian tycoon Rasheed Sarumi-led Presco gets nod for $162.8 million raise
Presco shareholders approve $162.8 million rights issue to fund acquisitions, expansion, and balance sheet growth under Rasheed Sarumi’s leadership
Mike Teke backs $1.1 million education program for vulnerable children in South Africa
Mike Teke’s Seriti Trust invests $1.1 million in early learning centers, boosting education access and skills for vulnerable children in mining regions.
Malawian executive Jimmy Lipunga leads Illovo in $45 million loan deal
The facility, backed by majority shareholder Sucoma Holdings, will pay down part of Illovo’s $72 million liabilities, much of it owed to foreign suppliers and sister companies.
Baloobhai Patel-backed Sanlam Kenya reports sharp profit decline in first half
Sanlam Kenya, backed by Nairobi investor Baloobhai Patel, reported an 89% profit fall in H1 2025 as rising expenses outweighed investment gains.
U.S.-Nigerian mogul Sam Darwish’s stake in IHS nears $90 million
Sam Darwish’s stake in IHS Towers approaches $90 million as the NYSE-listed telecom company climbs 137% in 2025 on growth in Africa and Brazil.