Royal family of Morocco gains $2.2 billion from Attijariwafa Bank stake
Alaouite family’s stake in Attijariwafa Bank rises $2.2 billion, reflecting strong bank performance and strategic investments.
Billionaires.Africa
Black executive Marvin Ellison-led Lowe’s to return $676 million to shareholders in Q2 dividend
Lowe’s, led by CEO Marvin Ellison, declares $676.2 million quarterly dividend, up 4.35%, underscoring its commitment to shareholder value amid market challenges.
Millionaires from 4 nations account for more than half of Africa’s wealthy
Four nations now host more than half of Africa’s 122,500 millionaires, reshaping the continent’s wealth landscape.
South African businessman Mario Maio’s ACDC Dynamics acquires battery firm
South African businessman Mario Maio’s ACDC Dynamics acquires Blue Nova Energy from Reunert to expand lithium-ion battery operations amid easing load-shedding.
Hip-hop billionaire Jay-Z gains $100 million, remains world’s richest musician
Hip-hop billionaire Jay-Z gains $100 million, boosting his net worth to $2.6 billion and keeping him the world’s richest musician.
Allen Onyema’s Air Peace launches Nigeria’s first direct route to Brazil
Air Peace begins direct Nigeria–Brazil service, boosting trade, tourism, and cultural ties, while cutting travel time by nearly a day.
Nigerian entrepreneur Olakunle Williams expands Tetracore Energy gas facility in Ogun State
Tetracore expands CNG capacity to 6.2 million cubic feet per day, powering industries and supporting Nigeria’s cleaner energy goals.
Preem, linked to Ethiopian billionaire Mohammed Al-Amoudi, posts $2.7 billion in Q2 sales
Preem reports Q2 revenue below $3 billion and swings to a $93.6 million loss as refinery downtime and weaker margins weigh.
Nigerian banker Segun Agbaje-led GTCO boosts GTBank's paid up capital to $328 million
GTCO injects $238.5 million into GTBank, boosting paid-up capital to $328.5 million as lender meets new CBN rules and strengthens growth drive.
South African billionaire Johann Rupert-backed poultry giant reports nearly $900 million revenue
Rainbow Chicken, partly owned by Johann Rupert, reported $895.6 million in 2025 revenue, driven by strong chicken sales and tighter operations.
Britam, backed by Kenyan business leaders, to expand into Congo
Kenya's biggest publicly traded insurer is seeking acquisitions in Congo markets with low insurance penetration to boost growth and diversify revenue streams.
Nigerian gambling magnate Kessington Adebutu's Wema Bank stake nears $90 million
Kessington Adebutu’s Wema Bank stake nears $90 million as digital banking fuels strong investor gains in 2025.
Egyptian tycoon Waleed Zaki’s Pioneers Properties profit drops 82% in first half of 2025
Egyptian businessman Waleed Zaki reports Pioneers Properties profit down 82% in early 2025, as costs offset revenue growth.
Michiel Le Roux now worth $2.6 billion as Capitec becomes Africa’s most valuable bank
Michiel Le Roux’s fortune has climbed to $2.6 billion as Capitec overtakes FirstRand to become Africa’s most valuable bank.
South African billionaire Patrice Motsepe-linked Sanlam sells KwaZulu-Natal shopping mall
Sanlam, linked to Patrice Motsepe, has finalized the sale of Southcoast Mall in KwaZulu-Natal, streamlining property holdings to focus on core finance.
Ackerman family’s Pick ‘n Pay to close Fourways store
Pick ‘n Pay, partly owned by the Ackermans, exits Fourways as Accelerate sells local malls amid debt-reduction and retail restructuring efforts.