Samih Sawiris’ Orascom Development Egypt posts Q1 revenue of $127 million
Orascom Development Egypt posted $126.8 million in Q1 revenue, driven by hotels and land sales, despite a dip in real estate bookings.
Billionaires Africa
PIC takes new shares worth $11.85 million in Neal Froneman-led Sibanye
PIC has increased its stake in Sibanye to 15.409% with a $11.85 million share purchase, signaling renewed confidence ahead of CEO Neal Froneman’s retirement.
Discovery co-founder Adrian Gore sees $60 million rebound in stake
The surge follows a strong rally in Discovery’s share price on the Johannesburg Stock Exchange (JSE).
Johann Rupert’s net worth rises by $488 million in 24 hours
The boost further cements his position as Africa’s second-richest person, behind Nigerian industrialist Aliko Dangote.
Strive Masiyiwa’s Cassava strikes deal to support AI growth in Africa
The partnership marks a strategic move by Cassava to deepen its commitment to digital transformation in Africa through scalable AI solutions.
Saki Macozoma sells manganese assets to Exxaro in $638 million deal
The transaction was executed through his investment company, Ntsimbintle Holdings, in partnership with Singapore-based OM Holdings.
Edita chairman Hani Berzi loses $7 million as shares fall
The decline stems from a steep fall in the company’s share price on the EGX, reflecting growing investor caution.
Peter Ndegwa leads Safaricom to historic $3 billion revenue
Safaricom posted $3.01 billion in revenue, marking a historic first in East Africa, as it eyes tech-driven growth in Kenya, Ethiopia, and beyond.
Baloobhai Patel linked-Absa Kenya backs $52 million student housing in Nairobi
Absa Bank Kenya, partly owned by investor Baloobhai Patel, is backing a $52 million student housing drive to ease Nairobi’s 300,000-bed deficit.
South African tech mogul Jens Montanana gains $28 million from Datatec stake
This $28.1 million gain demonstrates the rising institutional interest in JSE-listed technology companies with a global presence.
Firm linked to World’s richest Black man acquires Kenya’s oldest tour company
This reflects the growing appeal of Kenya’s tourism sector to international investors.
South Africa’s richest man gains $800 million in less than a month
This boost brings his year-to-date net worth increase to $1.67 billion, making him the only African billionaire whose fortune has grown by over $1.5 billion in 2025.
Ralph Mupita leads MTN Group to $2.6 billion revenue in Q1 2025
This impressive turnaround comes from growth across its key markets, particularly in Nigeria and Ghana.
Nigeria’s 7 richest royal families
Their businesses not only fuel the economy but also create jobs, foster community development, and drive inclusive growth.
Nigerian gambling magnate Kessington Adebutu’s Wema Bank stake tops $50 million
Adebutu, who founded Premier Lotto, owns a 28.26 percent stake in Wema Bank through Neemtree Limited, amounting to 6,057,090,218 shares.
Stephen Brookes' Balwin posts $120 million revenue in 2025
Balwin posted $120.6 million in revenue for FY2025, down 6%, as rate cuts in H2 fueled an 8% profit rise despite sluggish apartment sales.