Indian billionaire Gautam Adani's energy firm pushes on with transmission deal in Kenya
This clarification comes after a presidential adviser previously suggested that deals worth up to $1.3 billion had been finalized.
Hot News
South African billionaire Johann Rupert’s Richemont seals acquisition of Italian jewelry brand
The move expands Richemont’s “Jewellery Maisons” division, which includes brands like Cartier and Van Cleef & Arpels.
South African billionaire Nicky Oppenheimer’s wealth surges by $1.43 billion in 2024
Oppenheimer’s net worth has risen from $9.85 billion at the start of the year to $11.3 billion, solidifying his place among the world’s wealthiest individuals.
Sasol names South African executive Muriel Dube as new chair amid strategic shift
Her appointment comes at a pivotal moment for Sasol, which is repositioning itself in the energy market by expanding its natural gas operations.
Elon Musk’s Starlink plans South Africa launch despite regulatory hurdles
South African President Cyril Ramaphosa confirmed the discussions, underscoring the potential for deeper collaboration with the U.S. billionaire.
Bamburi Cement, linked to Kenyan tycoon Baloobhai Patel, receives new $193.7-million offer
Savannah Clinker has proposed purchasing all 362.9 million shares of Bamburi at Ksh70 ($0.54) per share.
Nigerian billionaire Femi Otedola lauds Aliko Dangote’s refinery as fuel distribution begins
The Dangote Oil Refinery, which started loading petrol into trucks on Sun., Sept. 15, is seen as a breakthrough in Nigeria’s decades-long struggle with fuel imports and shortages.
Zimbabwean billionaire Strive Masiyiwa boosts capacity for cross-border services in East Africa
This underscores Liquid’s commitment to enhancing East Africa's digital infrastructure as competition in the region intensifies.
Sibanye, led by South African tycoon Neal Froneman, reports $379 million loss for first half of 2024
The results mark a stark contrast to the same period in 2023, when Sibanye posted a profit of R7.8 billion ($427 million).
Nigerian billionaire Aliko Dangote tops Africa’s richest list again
Dangote has reclaimed the title of Africa’s richest person, surpassing South African Johann Rupert, according to Bloomberg and Forbes data.
Egyptian fintech founder Islam Shawky’s Paymob raises $22 million
The latest funding follows a $50-million Series-B round in 2022 led by PayPal Ventures, Kora Capital and Clay Point.
Nigerian banker Ladi Balogun-led FCMB Group completes initial phase of capital raise
This move is aimed at strengthening the bank's financial foundation and supporting its expansion within Africa's financial markets.
Egyptian mogul Abdallah Sallam's Madinet Masr unveils new luxury project in Mostakbal City
Madinet Masr, led by Abdallah Sallam, launches luxury project in Mostakbal City.
Black billionaire Alex Karp's Palantir expands AI partnership with BP for oil and gas operations
This builds on a decade-long success of incorporating Palantir software into BP’s oil and gas production systems.
Antoine Delaporte’s Adenia sells African payment firm to SPE Capital
Adenia Partners has sold its entire stake in OMOA Group to SPE Capital, marking the completion of its €96-million ($106 million) Adenia Capital III fund.
Giovanni Ravazzotti loses $18 million in two weeks from Italtile stake
South African tycoon Giovanni Ravazzotti sees $13.8-million decline in Italtile stake amid share price slide.