10 lessons from African billionaires on achieving business growth
Billionaires.Africa shares 10 key lessons from African billionaires, practical insights to help entrepreneurs overcome challenges, seize opportunities, and build lasting businesses.
Billionaires Africa
Absa Kenya, linked to Kenyan tycoon Baloobhai Patel, posts $229.3 million profit in 2024
The leading lender’s earnings soared past $220 million, fueled by strong growth in both net interest and non-interest income.
Peter Munga: Kenyan banker who built East Africa’s banking giant, Equity Group
His influence extends beyond banking, shaping industries such as insurance, agriculture, and education.
Burkina Faso opens new cement plant with Chinese support, challenging Dangote’s operations
With a production capacity of 2,000 tonnes per day, the new plant is expected to create hundreds of jobs for Burkina Faso’s youth.
George Foreman, boxing legend and successful entrepreneur, passes away at 76
The Texas-born boxing legend died peacefully at a Houston hospital on Mar. 21, 2025, surrounded by loved ones.
BlackRock stock slide wipes $100 million off Adebayo Ogunlesi’s net worth
Adebayo Ogunlesi's fortune fell to $2.2 billion as BlackRock shares declined from $1,075 to $951.73 since Jan. 31.
Botswana tycoon Ramachandran Ottapathu’s Choppies rakes in $346 million in just six months
Choppies' H1 2025 revenue surged 19.4% to $346.2 million, driven by new stores, inflation, and sales growth. Profit rose despite margin pressures in key markets.
Africa’s top 15 richest women
From oil and finance to cocoa and pharmaceuticals, Africa’s richest women are reshaping industries, driving economic growth, and redefining leadership.
Oyindamola Adeyemi: Nigerian businesswoman involved in the engineering of Dangote’s $23 billion refinery
She leads Still Earth Holdings, a Nigerian conglomerate with interests in construction, energy, finance, and hospitality, expanding across West Africa.
Seplat, co-founded by Nigerian tycoon Austin Avuru, buys back $567.46 million in notes to cut debt
The transaction, which covers 87.3 percent of the outstanding amount, is part of a broader plan to streamline its capital structure and ease debt obligations.
Co-op Bank shatters records with $197.1 million profit under Gideon Muriuki
Co-op Bank posts a record $197.1 million profit for 2024, driven by strong revenue growth, efficiency gains, and a 12.5% rise in total operating income.
Standard Bank, led by Sim Tshabalala, makes $165 million bet on platinum group metals
The 5.74 percent stake in Northam Holdings boosts the bank’s mining investments in South Africa.
South African billionaire Ivan Glasenberg takes $684 million hit on Glencore stake
This decline follows a steeper loss earlier this year, when his stake dropped by $817.53 million between Jan. 24 and Feb. 23.
Nigerian billionaire Femi Otedola’s FirstHoldCo raises $125 million in oversubscribed rights issue
Otedola, one of Africa’s billionaires since 2009, played a key role in guiding the group toward this milestone, reinforcing his influence in Nigeria’s financial sector.
Trustco’s debt to Namibia’s Van Rooyen family rises to $280 million
Trustco Group’s debt to Next Capital hit $280 million, boosting the Van Rooyen family’s financial control.
JPMorgan cuts Sibanye-Stillwater stake from over $215 million to $157 million
This move signals a reassessment of its exposure to the $3-billion mining group amid evolving economic dynamics in South Africa.