Kenyan investment banker Jimnah Mbaru gains $1.2 million in 37 days
Thanks to the surge in Britam shares, Mbaru’s stake in the Kenya-based diversified financial services group is worth Ksh748.8 million ($5.77 million).
Billionaires Africa
Africa’s first Black billionaire Patrice Motsepe’s fortune rebounds by $200 million
The surge in Motsepe’s fortune is linked to the performance of his 45.9-percent stake in African Rainbow Minerals (ARM).
Botswana tycoon Gulaam Abdoola’s Turnstar sees rental revenue top $24 million
Turnstar anticipates a significant year-on-year increase in pre-tax profit for the fiscal year ended Jan. 31, 2024, under Abdoola’s leadership.
South African tycoon Jannie Mouton’s Capitec stake slumps by $57.4 million
Despite the recent setback, Mouton still holds his position as one of the most affluent investors on the JSE and remains one of the wealthiest individuals in South Africa.
Ethiopia’s richest man Mohammed Al-Amoudi’s Preem posts $12.6-billion revenue in 2023
Al-Amoudi derives a significant portion of his wealth from his stake in Preem, which surged from $3.74 billion on Jan. 1 to $3.88 billion recently.
One of America’s richest Black CEOs, Craig Arnold loses $6.2 million from Eaton stake
The market value of Arnold’s stake in the company has declined by $6.21 million over the past eight days, dropping from $170.89 million on April 5 to $164.68 million.
Nigerian billionaire Abdul Samad Rabiu to receive $79.4 million from food business
The $79.4-million dividend which will be paid electronically into the bank accounts of Abdul Samad Rabiu and his son from the group’s 2023 earnings of $210.48 million, is part of a proposed cash distribution by the board of directors.
Moroccan billionaire Moulay Hafid Elalamy’s Saham acquires Societe Generale Maroc for $793 million
The acquisition marks a strategic shift for Saham Group as it absorbs all activities, client portfolios, and employees of the acquired entities.
South African tycoon Neal Froneman-led Sibanye considers cutting 4,000 jobs in major gold restructuring
Froneman underlines restructuring need to fortify balance sheet
South African tech mogul Zak Calisto gains $55.6 million from Karooooo shares in just 9 days
This surge highlights Calisto’s influence in South Africa’s tech sector, underscoring his role in shaping Karooooo’s path forward as a top provider of intelligent transportation solutions.
Black executive Kenneth Frazier loses $3.4 million from Merck & Co. stake
Despite the recent decline, Frazier remains a top Black executive.
Ethiopia’s richest man Mohammed Al-Amoudi gains $320 million in 15 days
The recent uptick in his fortune is mainly credited to the strong performance of his broad industrial investments in Sweden, Saudi Arabia, and Ethiopia.
South African tycoon Barry Swartzberg’s stake in Discovery declines by $10.7 million
Despite the recent setback in Swartzberg’s stake, he retains his position as one of South Africa’s wealthiest businessmen and one of the most successful investors on the JSE.
Zenith Bank, led by Nigerian banking tycoon Jim Ovia, to distribute $88.3-million dividend
The record dividend payout underscores its unwavering dedication to shareholder value and its position as a top player in Nigeria’s banking sector.
Firm linked to Egypt’s billionaire Mansour family sells $3-million stake in Palm Hills
MMID divested 39.4 million shares of Palm Hills on April 7, 2024, for a total of EGP141.5 million ($2.98 million) at an average price of EGP3.59 ($0.0755) per share.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods to distribute $79.5-million dividend
The substantial dividend underscores the company’s dedication to rewarding its shareholders following an outstanding performance in 2023.