Egyptian tycoon Medhat Khalil’s Raya tops $650 million in 2023 revenue
The company’s recently released financial statements reveal a significant revenue increase of 53.31 percent, from $429.22 million in 2022 to $650 million in 2023.
Billionaires Africa
South African billionaire Ivan Glasenberg gains $520 million in two weeks
Glasenberg’s rising fortune further cements his position among the world’s richest individuals.
South African tycoon Jonathan Jawno’s Transaction Capital debuts WeBuyCars on JSE
The move is seen as a strategic maneuver to unlock shareholder value and expand WeBuyCars’ brand presence in the competitive used-car market.
Egyptian tycoon Hani Berzi makes $7.7 million from Edita Foods in just 11 days
The single-digit percent surge in share price has propelled the market value of Berzi’s stake in Edita Food by EGP370.05 million ($7.78 million).
Nigerian banker Segun Agbaje’s GTCO to distribute $63.8 million in dividends to shareholders
With Segun Agbaje at the helm, GTCO continues to chart a path of sustained growth and profitability in the Nigerian financial landscape.
South African billionaire Stephen Saad gains $21.1 million as Aspen shares soar
This rise in Saad’s stake underscores his pivotal role in South Africa’s business landscape, placing him among the top investors on the JSE.
Capitec Bank shares slump costs South African billionaire Michiel Le Roux $76 million
The recent slump in his fortune follows the $60-million gain recorded on April 4, when his stake in Capitec Bank soared from $1.48 billion to $1.54 billion.
Elon Musk’s Starlink cuts hardware price in Nigeria by 45 percent as naira strengthens
The recent crash in hardware prices to N440,000 is linked to the recent strengthening of the Nigerian naira against the U.S. dollar.
Africa’s richest person Aliko Dangote says diesel price cut could curb Nigeria’s inflation
By offering diesel at N1,200 ($1), below the market rate of N1,650 ($1.325), Dangote believes inflation will decrease.
Nigerian tycoon Tony Elumelu’s UBA to reward shareholders with $63-million dividend
The leading lender, led by Elumelu, one of Africa’s most influential business figures, reported a stellar 257 percent increase in profit to N607.7 billion ($468.8 million).
Egyptian billionaire Yasseen Mansour gains $1.8 million from Palm Hills stake
This significant increase reinforces Mansour’s position as one of Egypt’s and Africa’s billionaires, solidifying his position among the continent’s financial elites.
Sibanye mulls $500-million metals streaming deal under South African tycoon Neal Froneman
Froneman underscored the importance of fortifying liquidity buffers to mitigate potential downturns. He explicitly ruled out equity issuance as a means of capital procurement.
Tunisian tycoon Habib Essayeh suffers $1.3-million loss from Euro-Cycles shares
With a 33.6-percent stake in Euro-Cycles, equivalent to 3,293,136 ordinary shares, Essayeh stands as one of the most affluent investors on the Tunis Stock Exchange.
Standard Bank, led by South African banker Sim Tshabalala, seeks banking license in Egypt
Standard Bank’s push into Egypt, a nation of more than 100 million people, follows its strong 2023 financial performance, with headline earnings surging to $2.3 billion.
South African tycoon Jonathan Jawno gains $7.9 million from Transaction Capital stake
This recent uptick follows a period of steady gains for Jawno, during which his holdings in Transaction Capital rose by $7.7 million between Feb. 12 and March 18.
Zimbabwean exec Ralph Mupita-led MTN set to invest $102 million to tackle South Africa’s blackouts
Mupita emphasized the critical nature of the situation, describing the power outages as a “crisis” further compounded by vandalism of mobile phone towers and base stations.