Kenyan businessman Samuel Macharia closes company, lays off employees
Earlier this year, Directline had outlined ambitious plans to diversify its product portfolio.
Billionaires Africa
Africa’s richest man Aliko Dangote’s refinery pushes petrol production to mid-July
The petrochemical complex was previously scheduled to begin churning out premium motor spirit (PMS) in June.
Nigerian billionaire Femi Otedola’s energy firm targets $28.2-million revenue in Q3 2024
Geregu Power’s impressive forecast is bolstered by its plans to expand total capacity from 435MW to 1,200MW.
South African real estate tycoon Stephen Brookes faces major market losses
This loss compounds the $2 million loss recorded between March 20 and April 3, when his stake dipped from $17.34 million to $15.33 million.
Egyptian billionaire Hisham Talaat Moustafa’s TMG reports $1.3 billion in Q1 sales
The company’s financial health remains robust, maintaining a net cash position of EGP23.9 billion ($501 million).
Nigerian banker Aigboje Aig-Imoukhuede-led Access Holdings acquires Tanzanian bank
With the recent entry into Tanzania, Access Holdings targets local, regional, and international revenue opportunities across within the East African region.
Beyoncé’s net worth falls below $800 million, losing $40 million
Beyoncé’s music career, spanning nearly three decades as a solo artist and with Destiny’s Child, has been the cornerstone of her financial empire.
Firm backed by South Africa’s second-richest man prepares third fund for African tech startups
4DI Capital backed by South Africa’s second-richest man Nicky Oppenheimer has established itself as a prominent venture capital player in Southern and Eastern Africa.
Egyptian tycoon Hani Berzi takes $15.8-million hit in Edita stake
This setback follows earlier gains made between May 14 and 27, when the value of Berzi’s stake surged by $17.18 million.
Africa’s richest man Aliko Dangote shares how he overcame challenges to build Dangote Oil Refinery
Dangote’s refinery project represents a monumental effort to industrialize Africa and underscores his belief in the continent’s potential to drive its own development.
Tiger Woods earns $67.2 million, ranking among highest-paid athletes in 2024
The majority of his earnings, totaling $55 million, came from off-field activities such as businesses, endorsement deals, appearances, memorabilia, and licensing.
Jay-Z’s entertainment company announces $300 million scholarship fund
This ambitious program was unveiled on June 7 and targets children from Kindergarten through Grade 12
South Africa’s richest man Johann Rupert makes $500 million in just 10 days
This solidifies his position as South Africa’s richest man and Africa’s second-wealthiest individual.
Egyptian billionaire Samih Sawiris’ tourism company in Europe files for bankruptcy
FTI has set up a hotline and website to assist customers, announcing that all trips starting June 4 will either be canceled or partially fulfilled.
Nigerian oil magnate Wale Tinubu’s Oando announces participation in $3.3-billion facility
Tinubu emphasizes ability to create value as an indigenous partner of choice in Project Gazelle as another win for Oando and Nigeria.
Ghanaian tycoon Joseph Agyepong’s Jospong Group seeks support for African businesses from South Korea
Dr. Joseph Siaw Agyepong, Executive Chairman of the Jospong Group of Companies, emphasizes the potential benefits of Ghana and Africa’s partnership with South Korea in business and development.