South African billionaire Michiel Le Roux’s stake in Capitec Bank soars as shares surge on local bourse
The star banker’s ownership stake has surged by about $250 million since April 13.
Billionaires Africa
Olalekan Olude’s Jobberman partners with Nigerian Youth Service Corps to train 120,000 youth yearly
The youths will be trained in soft skills to enhance their employability.
South African billionaire Johann Rupert’s Sukuma fund to offer $7.18-million loan to local restaurants
The fund aims to help restaurants that suffered due to COVID-19.
Locals demand safer operations from Bahamas-based businessman James Longshore’s Xtra-Gold
Several communities in Ghana claim the company’s subcontractors fail to keep mining sites safe.
NBA, Nigerian energy mogul Tunde Folawiyo gear up to launch $1-billion NBA Africa
The venture will be implemented with private equity firm Helios Fairfax Partners Corporation.
South African billionaire Koos Bekker loses $111.1 million as Naspers’ shares decline
The drop occurred after its Dutch subsidiary Prosus announced plans to acquire Naspers shares.
BNP Paribas charged on suspicion of laundering millions for late Gabonese President Omar Bongo Ondimba
Radio France International reported the development as part of a long-running investigation.
Aliko Dangote to earn $570 million this week from stake in Dangote Cement
The chairman and single majority shareholder, Dangote founded the cement company in 1981.
Botswana real estate tycoon Gulaam Abdoola to earn $672,000 from stake in Turnstar Holdings
Turnstar is a property loan stock company listed on the Botswana Stock Exchange since 2002.
Nigerian president, Plateau State governor mourn death of NASCO’s Ahmed Idris Nasreddin
Nasreddin was the Eritrean founder of the Jos-based NASCO Group.
Moi family of Kenya to pocket $380,000 Standard Chartered Bank dividend
The family of the late Kenyan President Daniel arap Moi will pocket $380,000 in dividends from Standard Chartered Bank.
U.S. firm accuses Ghanian tycoon and party founder Papa Kwesi Nduom of laundering $63 million
There is little publicly available information about the company that brought forward the case.
Safaricom, MTN Group bid for licenses in Africa’s second-most populous country, Ethiopia
The bureaucratic bidding process seems to finally be nearing an end.
James Mwangi-led Equity Group partners with KfW on Kenyan scholarship program
The Wings to Fly program is implemented with the Mastercard Foundation and Germany’s KfW.
Kenyan steel tycoon Narendra Raval makes bid to rescue struggling sugar company
Founded in 1971, Mumias Sugar was once the largest sugar manufacturer in Kenya.
Egyptian billionaire Nassef Sawiris’ net worth rises by $820 million in May
The surge is largely due to gains in his shares in Adidas and OCI N.V.