Egyptian tycoon Waleed Zaki’s Pioneers Properties profit drops 82% in first half of 2025
Egyptian businessman Waleed Zaki reports Pioneers Properties profit down 82% in early 2025, as costs offset revenue growth.
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Michiel Le Roux now worth $2.6 billion as Capitec becomes Africa’s most valuable bank
Michiel Le Roux’s fortune has climbed to $2.6 billion as Capitec overtakes FirstRand to become Africa’s most valuable bank.
South African billionaire Patrice Motsepe-linked Sanlam sells KwaZulu-Natal shopping mall
Sanlam, linked to Patrice Motsepe, has finalized the sale of Southcoast Mall in KwaZulu-Natal, streamlining property holdings to focus on core finance.
Ackerman family’s Pick ‘n Pay to close Fourways store
Pick ‘n Pay, partly owned by the Ackermans, exits Fourways as Accelerate sells local malls amid debt-reduction and retail restructuring efforts.
Sibanye narrows loss to $211 million in H1 2025 under Neal Froneman
Sibanye Stillwater narrows H1 2025 loss to $211 million under CEO Neal Froneman, showing signs of recovery amid weak metal markets and operational restructuring.
Accelerate Property Fund, partly owned by Michael Georgiou, sells two Gauteng shopping centers
Accelerate Property Fund sells Buzz and Waterford Centers for $12.2 million to reduce debt, improve liquidity.
Oprah Winfrey, world’s richest Black woman, is $100 million richer
Oprah Winfrey’s net worth rises by $100 million, reaching $3.1 billion, cementing her as the world’s richest Black woman.
Beyoncé, Jay-Z buy $11.5 million U.K. estate while carrying $110 million Bel-Air debt
Beyoncé and Jay-Z buy an $11.5 million Cotswolds estate, adding privacy and scenic views to their $300 million global property portfolio.
French billionaire’s firm Canal+ moves forward with $2.9 billion MultiChoice deal
The approval clears one of the last regulatory hurdles, allowing Canal+ to proceed with its mandatory offer to minority shareholders.
Ethiopia’s richest man Mohammed Al-Amoudi gains $2.2 billion; wealth nears $8 billion
Mohammed Al-Amoudi’s fortune rises $2.2 billion after Svenska sale, pushing his net worth toward $8 billion.
South African billionaire Patrice Motsepe drives Harmony Gold to $4.1 billion revenue
Harmony Gold, led by Patrice Motsepe, posts $4.07 billion revenue and $824 million profit as higher prices offset weaker output.
Africa's richest man, Aliko Dangote, gets $2.5 billion deal in Ethiopia
Aliko Dangote signs $2.5 billion fertilizer deal with Ethiopia to cut costly imports, boost food security and expand Africa’s farm output.
Orascom Construction, led by Egypt's richest family, reports $9.6 billion backlog in first half
Orascom Construction, led by Egypt’s Sawiris family, posts $9.6 billion backlog and $3.4 billion in new H1 2025 awards globally.
South African billionaire Johann Rupert’s Richemont brings Panerai’s first boutique to Stuttgart
Richemont, led by Johann Rupert, opens Panerai’s first Stuttgart boutique, expanding in Europe as Specialist Watchmakers find stability amid global headwinds.
South African brothers, Brett and Mark Levy, lead Blue Label Telecoms to $140 million profit
Blue Label Telecoms, led by Brett and Mark Levy, posts $140.6 million profit as Cell C turnaround and digital growth drive headline earnings surge.
Egypt’s Ghabbour family gains $51 million from GB Corp stake
GB Corp shares climb 16.8%, earning the Ghabbour family $51 million and lifting market confidence in Egypt’s automotive industry.