Absa Bank, linked to Kenyan tycoon Baloobhai Patel, posts $42 million profit in Q1 2024
Customer deposits also climbed 14.47 percent to Ksh359.46 billion ($2.74 billion), reflecting the bank’s customer-centric approach.
Hot News
U.S.-Nigerian telecom mogul Sam Darwish’s stake in IHS rises by $2.8 million
This follows a $9.63 million loss he recorded between May 7 and 16, when his holding fell from $55.13 million to $45.50 million.
South Africa’s richest man Johann Rupert makes $900 million in just three weeks
While his commanding stake in Richemont forms the cornerstone of his wealth, Johann Rupert has diversified his investment portfolio across a spectrum of industries.
Black executive Kenneth Frazier loses $3.7 million from Merck & Co. stake
Kenneth Frazier, a top figure among America’s top Black executives, owns a 0.028-percent stake in Merck & Co., equivalent to 705,220 shares.
Bank led by Nigerian billionaire Femi Otedola partners with French financier on climate initiative
This collaboration aims to establish FBN Holdings as a frontrunner in African climate finance.
Bravura Holdings unveils Zimbabwe’s first world-class lithium upgrade facility at Victoria Falls Mining Indaba
Benedict Peters, through Bravura Holdings, has propelled this project forward, showcasing its comprehensive design at the Indaba.
Egyptian billionaire Ghabbour family gains $20.7 million in 16 days
This surge has pushed the group’s market cap above $255 million, delivering substantial gains to shareholders, including the wealthy Ghabbour family.
South African mogul Christo Wiese-linked Pepkor posts $2.4 billion half-year revenue
In 2014, South African billionaire Christo Wiese sold Pepkor to Steinhoff International in exchange for a 20 percent stake in Steinhoff.
Bravura Sets the Record Straight: Rebuttal to Inaccurate Claims in Zimbabwean Mail
Bravura clarifies that the Kamativi Lithium Tailings Project, launched in December 2021, is progressing steadily despite encountering regulatory hurdles and global economic challenges.
South African tycoon Adrian Gore’s Discovery stake surges $22.1 million
This follows a $14 million loss recorded between April 30 and May 14, when his stake dropped from R10.49 billion ($571.56 million) to R10.24 billion ($557.54 million).
Leading Black venture capitalist Henri Pierre-Jacques’ firm seeks $150 million for third fund
The new fund follows a successful $134 million raise in 2021, building on the firm’s impressive financial success in recent years.
Nigerian billionaire Femi Otedola’s FBN Holdings posts $149.7 million profit in Q1 2024
Femi Otedola’s leadership continues to be a driving force behind the group’s sustained growth and expansion, with high expectations for the remainder of the fiscal year.
Laurie Dippenaar’s FirstRand secures $250 million IFC green housing loan
The funding consists of a $200 million direct loan from IFC and up to $50 million mobilized through the managed co-lending portfolio program.
South African real estate mogul Michael Georgiou sells $3.1 million stake in Accelerate
According to a statement released by the Accelerate Property Fund, Georgiou sold 107 million shares, which were subsequently seized by Investec.
Egyptian tycoon Medhat Khalil earns $4.2 million in just 12 days
As a result of the double-digit share price increase, the market value of Medhat Khalil’s stake has risen to $28.89 million from $24.66 million.
Bank with Kenya’s wealthiest backing launches trustee services to enhance investment options
This move allows NCBA to enter the trustee services market, providing clients with more investment options and reinforcing its commitment to comprehensive financial services.