Billionaires Africa
Luxury online retailer, linked to South Africa’s richest man, to exit Chinese market
The decision to exit China underscores the increasing pressures faced by luxury retailers in the world’s second-largest economy.
Aliko Dangote’s sugar firm raises $28.8 million via commercial paper
Despite challenges, Dangote Sugar aims to leverage the funds raised from the Notes to meet its operational and growth objectives.
Egyptian businessman Ahmed Ezz gains nearly $45 million from Ezz Steel stake
This surge follows a previous increase of EGP5.28 billion ($113.13 million) between May 12 and 21.
Africa’s first female billionaire Isabel dos Santos fights $734-million asset freeze
The legal battle continues as dos Santos seeks to overturn the freezing order and address the charges against her.
Britam, owned by Kenya’s richest investors, plans entry into DRC market
DRC’s liberalized insurance sector, valued at $300 million in 2023, presents substantial growth prospects for Britam Holdings.
FirstRand stake of South African tycoon Laurie Dippenaar nears $400 million
Laurie Dippenaar currently holds a 1.76-percent stake in FirstRand, amounting to 98,726,988 shares, making him one of South Africa’s leading investors.
Wema Bank backed by Kessington Adebutu secures approval to raise $26.3 million
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have approved the bank’s $26.3 million rights issue.
Nigerian banker Segun Agbaje-led GTCO eyes July for $329-million capital raise
The capital raise, aimed at generating N500 billion ($329.5 million) through the issuance of ordinary shares, underscores GTCO’s strategy to bolster its technological infrastructure