Oriental Weavers, controlled by Egypt’s Khamis family, reports $260 million in first-half revenue
Oriental Weavers’ half-year revenue rose 17% on strong exports and higher prices, though profit slid 24% on rising costs and soft domestic demand.
Billionaires Africa
Alex Karp, richest Black person in U.S., is now worth $16 billion after $8.9 billion gain in 2025
Alex Karp’s fortune jumps to $16 billion, rising $8.9 billion on Palantir’s AI-powered software demand.
Noluthando Gosa-linked ArcelorMittal SA faces crucial decision on South African mill
The Department of Trade, Industry, and Competition (DTIC) and the state-owned Industrial Development Corp. (IDC) are exploring options to keep the plant operational.
Two new billionaires emerge from Africa’s stock markets in August 2025
Malawi’s Thom Mpinganjira and Egypt’s Hisham Talaat Moustafa join Africa’s billionaire list after major stock gains in August.
South African billionaire Christo Wiese-backed Pepkor wins approval for $108 million purchase
Pepkor has received approval to acquire five Retailability brands in a $108.1 million deal, expanding its presence in the adultwear market.
South African businessman Christopher Seabrooke’s Sabvest stake falls below $100 million
Christopher Seabrooke’s Sabvest stake slips to $84 million as shares fall 14.55 percent since mid-June.
South African billionaire Patrice Motsepe’s ARC battles US firm in $193 million lawsuit
Patrice Motsepe’s ARC takes a $193.7 million graphite mining dispute with US-linked Pula Group to Johannesburg’s High Court.
Kenyan pharma tycoon Rupen Mulchand Haria wins $3.2 million tax case
Rupen Mulchand Haria secures $3.2 million tax victory, confirming capital gains tax applies on sale date, not registration.
Africa’s richest man Aliko Dangote’s refinery lowers petrol prices across Nigeria
Dangote refinery cuts petrol price to $0.534 per liter, boosting Nigeria’s energy independence and processing 500,000 barrels daily.
Elsewedy Electric, owned by billionaire El-Sewedy family, to develop industrial zone in Egypt
The zone will be built to international standards and host a range of industries, including mining, engineering, chemicals, manufacturing, and food production.
South African businesswoman Phuthi Mahanyele-Dabengwa’s Naspers shares now worth $12.4 million
Phuthi Mahanyele-Dabengwa’s Naspers stake rises to $12.4 million as shares surge, boosting Africa’s most valuable company.
Edita, led by Egyptian tycoon Hani Berzi, posts $190 million revenue in first half of 2025
Egypt’s Edita Food Industries, led by Hani Berzi, posts $190.7 million H1 2025 revenue, with profit up 22.7% despite lower sales volumes.
Thom Mpinganjira becomes Malawi’s first dollar billionaire
Malawian banker Thom Mpinganjira’s FDH Bank shares reach $1.12 billion, making him the country’s first billionaire and richest citizen.
Egyptian billionaire Samih Sawiris’ ODE posts $237.9 million revenue in H1 2025
Orascom Development Egypt’s H1 2025 revenue rose 12.9% to $237.9 million, fueled by strong real estate, hospitality, and commercial asset performance.
Egyptian billionaire Hisham Talaat Moustafa’s TMG stake rises above $1 billion
Hisham Talaat Moustafa’s TMG shares hit $1.04 billion in value as the company’s stock climbs 8.72%, pushing market cap above $2.4 billion.
Ugandan tycoon Charles Mbire-led MTN Uganda posts $483 million half-year revenue
MTN Uganda’s half-year revenue rose 13.1% to $483.3 million, powered by data and fintech gains, despite a tax settlement denting net profit.