Africa’s richest man Aliko Dangote’s refinery begins supplying fuel to local market
The Dangote Petrochemical Complex, located on a peninsula on the outskirts of Lagos, represents a significant leap in industrial advancement.
Billionaires Africa
Femi Otedola returns to world’s billionaires list as global billionaire wealth hits $14.2 trillion
With Otedola’s return to the billionaire ranks, Africa now boasts 20 billionaires, up from 19 in 2023 and 18 in 2022.
Ethiopia’s richest man loses $100 million in just 6 days
Ethiopia’s richest man Mohammed Al-Amoudi’s net worth has declined by $100 million in just six days, the latest setback in a string of wealth declines.
South African tech mogul Zak Calisto loses $34.5 million from Karooooo shares
Amid the recent market volatility, the market value of Calisto’s stake has dropped significantly by $34.52 million, falling from $609.57 million on March 21 to $575.05 million.
Kenya’s richest banker James Mwangi makes nearly $4 million in 2 weeks
The recent gain not only reinforces Mwangi’s standing as one of the top investors on the NSE but also strengthens his position as Kenya’s wealthiest banker.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M targets 100 branches in Kenya by 2026
The group kicked off its Kenyan expansion in mid-January with the inauguration of eight new branches.
Tunisian tycoon Abdelwaheb Ben Ayed gains $2.9 million from Poulina stake
The $2.87-million surge in the market value of his holding solidifies Ben Ayed’s status as one of the wealthiest investors on the Tunis Stock Exchange.
Magic Johnson joins Taylor Swift and 263 others in the ranks of world’s newest billionaires
His inclusion in the exclusive billionaire club underscores his enduring legacy both on and off the basketball court.
Globacom founder Mike Adenuga’s net worth rebounds sharply, nearing $7 billion
Adenuga remains among the world’s 400 richest people and one of the top five wealthiest individuals in Africa.
Botswana tycoon Farouk Ismail’s Choppies to pay first dividends since 2017
The founders, Ramachandran Ottapathu and Farouk Ismail, are poised to benefit from the dividend payout.
South African businessman Barry Swartzberg loses $8.7 million in Discovery stake
Despite these substantial losses, Swartzberg continues to hold his ground as one of South Africa’s prominent businessmen.
Top Black CEO Marvin Ellison gains $6.6 million from Lowe’s shares
This recent boost follows a previous rise in Ellison’s wealth, with his stake in Lowe’s seeing a $3.3-million uptick between Jan. 24 and Feb. 14.
Kenyan banker James Mwangi leads Equity’s expansion into general and health insurance
The expansion follows a successful foray into life insurance in 2022 and subsequent approval from the Insurance Regulatory Authority (IRA) in May 2023 to establish a general insurance company.
Nigerian tycoon Tony Elumelu-linked power company posts revenue exceeding $100 million in 2023
The surge in the company’s revenue led to a significant 74.9-percent jump in profit, reaching N30.23 billion ($23.15 million) at the end of 2023.
Nigeria’s richest banker Jim Ovia’s stake in Zenith Bank grows by $20.4 million
This recent gain strengthens Ovia’s position as Nigeria’s wealthiest banker, underscoring his success as a leading figure in the financial services industry.
African-American billionaire Alex Karp’s fortune drops $100 million in 19 days
The pullback coincides with a recent downgrade of Palantir Technologies (PLTR), the data analytics software firm Karp co-founded.