Kenny Fihla-led Absa accounting ‘in disarray,’ court denies property seizure bid
The court rejected Absa’s application, insisting the matter requires full trial and mediation, which the bank had declined.
Billionaires Africa
South African tycoon Giovanni Ravazzotti gains $18 million from Italtile stake
Giovanni Ravazzotti gains $18 million in four days as Italtile shares rebound, lifting his stake to nearly $420 million despite year-to-date losses.
Dalia Khorshid leads Beltone in securing $20 million in green funding
Beltone secures $20 million from SANAD and GGF to fund MSMEs and green projects, deepening its sustainability push under Dalia Khorshid’s leadership.
Hassanein Hiridjee’s AXIAN Telecom secures $28.8 million loan after Jumia stake deal
AXIAN Telecom secures $28.8 million from IFC to expand broadband in Comoros, including 5G rollout and fiber upgrades starting in 2025.
East Africa's first billionaire hands over multimillion-dollar faculty complex in Uganda
The project, delivered by Vcon Construction, the construction arm of the Ruparelia Group, was reportedly completed in just under two years.
Dis-Chem founder Ivan Saltzman restructures $377.7 million stake among heirs
Dis-Chem’s Ivan Saltzman restructures $377.7 million stake, transferring shares to heirs in a move reinforcing family control, succession, and executive alignment.
Tanzanian businessman Said Bakhresa plans $500 million factory expansion
The move is aimed at boosting production and reinforcing the company’s leadership in the regional market.
Egyptian businesswoman Hend El-Sherbini expands IDH with $8 million CAIRO RAY acquisition
IDH moves deeper into radiology with $8 million CAIRO RAY deal.
Larry Ellison’s Oracle opens research and development center in Morocco
Oracle launches a seven-floor research center in Casablanca to drive AI and cloud innovation across Africa
Egyptian billionaire Yasseen Mansour loses $6 million from Palm Hills stake
Yasseen Mansour loses $6 million as Palm Hills shares drop nearly 11%, exposing real estate risks amid Egypt’s economic volatility
Pick ‘n Pay, backed by Ackerman family, fuels retail recovery in South Africa
The group’s portfolio optimization reflects a growing trend toward efficiency and modernization in South African retail.
Adaora Umeoji acquires $2.1 million in additional Zenith Bank shares
Zenith Bank CEO Adaora Umeoji deepens her stake with a $2.1 million share buy, affirming long-term faith in the bank’s growth and profitability.
Johann Rupert’s Richemont debuts Van Cleef & Arpels boutique in Florence
Richemont’s Van Cleef & Arpels opens its first Florence boutique, showcasing high-jewelry heritage and bolstering the group’s luxury retail presence in Europe.
Barry Swartzberg’s Discovery stake declines by $10 million
In just 16 days, his stake declined from $318.68 million to $308.54 million, tracking a 3.18-percent drop in Discovery’s stock.
How Palantir's CEO Alex Karp quietly became America’s richest Black billionaire
In May, he sold $50 million worth of Palantir stock, a small portion of his holdings, but a sign of how liquid his wealth has become.
Otedola's FirstHoldCo pumps nearly $10 million into cybersecurity defenses
The bold move underscores the group’s commitment to safeguarding customer assets amid rising cyberattacks targeting financial institutions across Nigeria.