South African billionaire Christo Wiese’s Brait plans to sell UK retailer
The move is part of a broader effort to simplify its portfolio, repay debt, and return capital to shareholders.
Billionaires Africa
Burkinabe tycoon Idrissa Nassa’s Coris Bank launches operation in Central Africa
The new subsidiary, Coris Bank International Chad, takes over from Société Générale Chad following the completion of its acquisition on Feb. 31, 2024.
Zenith Bank, led by Adaora Umeoji, plans forbearance exit in first half of 2025
The lender disclosed this in a statement filed on the NGX on Wednesday, reaffirming its commitment to meeting all supervisory requirements.
Africa’s richest man Aliko Dangote to export Nigeria’s first gasoline cargo to Asia
A 90,000-metric-ton cargo of gasoline is scheduled to leave the refinery for Asia, marking the first time fuel from the Lagos-based facility will be sold outside the region.
Egyptian property billionaire Hisham Talaat Moustafa loses $78.5 million
TMG stock slumps 7%, wiping $78 million from Hisham Talaat Moustafa’s holdings amid Egypt’s cooling real estate sector.
Baloobhai Patel-linked Sanlam Kenya repays $23.5 million Stanbic loan
Sanlam Kenya, backed by investor Baloobhai Patel, has cleared a $23.5 million Stanbic loan and posted a profit rebound on stronger revenue and investment income.
150 Nigerian workers sacked after protest at firm owned by billionaire with political ties
The layoffs followed a protest at one of the company’s construction sites in Lagos, where workers stopped work and marched to demand better conditions.
Egyptian businessman Hani Berzi loses $4 million as Edita shares fall
The decline marks another blow for Berzi, who chairs the Cairo-based snack maker and owns a 44.07-percent controlling stake.
Hassanein Hiridjee’s AXIAN Telecom sees promise in Africa’s digital economy with $35 million Jumia stake
With Jumia’s market capitalization approaching $400 million, AXIAN’s growing interest underscores its faith in the platform’s renewed business focus.
Elon Musk's SpaceX to invest $28 million to expand Starlink in South Africa
The proposed investment aims to provide free high-speed broadband connectivity to 5,000 rural schools, reaching 2.4 million children nationwide.
South African billionaire Christo Wiese’s Shoprite stake falls below $1 billion
This reflects renewed pressure on South African retail stocks as investor confidence continues to waver on the Johannesburg Stock Exchange (JSE).
Laurence Rapp leads Vukile to $181 million profit in 2025
The strong result was driven by solid performance in its South African retail business and continued expansion in Spain and Portugal.
Eswatini’s richest man Natie Kirsh loses $300 million
Natie Kirsh’s fortune drops by $300 million, trimming his 2025 year-to-date gains to $774 million after a recent two-month surge.
Patrice Motsepe’s ARM hedges part of $1.1 billion Harmony Gold stake
Although ARM remains a committed long-term investor in Harmony Gold, the company has taken steps to improve liquidity.
Aliko Dangote's refinery to begin nationwide fuel distribution in August
It is ready to deploy 4,000 new Compressed Natural Gas (CNG)-powered tankers to enhance last-mile delivery and fuel accessibility across Nigeria.
Madinet Masr, led by Egyptian tycoon Abdallah Sallam, eyes Saudi expansion
Madinet Masr signs MoU with Waheej to co-develop real estate projects in Saudi Arabia, marking a key move in its regional growth strategy.