South African exec. Fani Titi-led Investec expands advisory business into Switzerland
The move folds the Zurich-based team into Investec’s broader European advisory arm, expanding the firm’s footprint in a market where it has operated since 1978.
Billionaires.Africa
Nigerian banker Jim Ovia’s Zenith Bank sees $355 million profit in first half
Zenith Bank’s H1 profit falls to $355 million as impairments rise, while total assets reach $20.7 billion.
Anglo American, led by South Africa's Duncan Wanblad, to cut jobs in Australia’s Bowen Basin mines
The Isaac Regional Council, which covers the coal-rich Bowen Basin, said about 200 jobs will be affected.
Mellody Hobson’s Ariel Alternatives expands with industrial services acquisition
Mellody Hobson’s Ariel Alternatives expands into industrial services with its $1.45B Project Black fund, acquiring Groome Industrial Service Group.
Egyptian billionaire Mohamed Mansour points to AI as Africa’s development lever
Egyptian billionaire Mohamed Mansour sees artificial intelligence as a key lever for Africa’s growth.
Shoprite Nigeria shuts stores in major cities 4 years after Tayo Amusan’s Ketron takeover
Four years after Tayo Amusan’s Ketron takeover, Shoprite Nigeria is still struggling to steady its business in Africa’s most populous economy
South African entrepreneur André Pienaar sued over $10 billion Amazon contract
André Pienaar sued in Washington over $10 billion Pentagon cloud contract involving Amazon and lobbying claims.
Egypt’s Ghabbour family loses $46 million as GB Corp stock slides
The Ghabbour family’s stake in GB Corp. has lost over $46 million in value after a sharp drop on the Egyptian Exchange.
Egypt’s billionaire El-Sewedy family to build $29 million cold-storage facility
The project aims to strengthen Egypt’s cold chain infrastructure, improve food quality, and cut waste, the companies said in a joint statement.
Prosus, led by South African billionaire Koos Bekker, puts $139 million into Indian firm before IPO
Prosus, chaired by Koos Bekker, raised its stake in India’s Urban Company to 7.35% with a $139 million investment ahead of its IPO.
Glencore, led by Gary Nagle, in talks to rescue South African smelters
Glencore, led by Gary Nagle, pursues talks with South Africa’s government to rescue smelters as power costs rise.
Egyptian businessman Naguib Sawiris nears $10 billion fortune
Naguib Sawiris nears a $10 billion fortune as gold and real estate investments fuel his rise.
Nigerian logistics mogul Taiwo Afolabi opens new projects to boost community life
Taiwo Afolabi commissions ICT hub, market stalls, and a recreational park in Ogun State to uplift local communities.
South African billionaire Jannie Mouton's Capitec stake rebounds to $1.2 billion
South African billionaire Jannie Mouton’s Capitec stake rises to $1.2 billion as shares gain on renewed investor confidence.
Africa’s richest man leads record fuel exports from Dangote refinery
Dangote made the announcement at a conference, saying the plant has helped ease a problem that has dogged Nigeria for decades.
Ugandan lawyer William Byaruhanga buys $8 million stake in Kenya’s Sidian Bank
William Byaruhanga buys $8 million stake in Sidian Bank, ranking as the fourth-largest shareholder in the Kenyan lender.