Lowe’s, led by Black executive Marvin Ellison, posts $21.4 billion in Q1 2024 sales
Despite the headline figures, Lowe’s reported positive growth in certain segments. The Pro division, catering to professional contractors, maintained steady sales.
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Kenya’s richest banker James Mwangi’s stake in Equity Group soars past $45 million
This surge cements James Mwangi’s position as a top investor on the NSE and underscores his status as one of Kenya’s wealthiest individuals.
South African exec Shameel Joosub-led Vodacom discusses infrastructure deals with Orange across Africa
Vodacom Group, led by telecoms veteran Shameel Joosub, boasts a network of over 200 million African subscribers.
Egyptian billionaire Yasseen Mansour’s Palm Hills signs deal for Northern Coast project
Under Yasseen Mansour’s leadership, Palm Hills reported a $51.1 million profit at the end of its 2023 fiscal year, reflecting a robust 25.9 percent year-over-year increase.
Egyptian businessman Ahmed Ezz gains over $110 million from Ezz Steel stake
According to data tracked by Billionaires.Africa, Ezz’s stake in Ezz Steel has climbed EGP5.28 billion ($113.13 million) over the past nine days.
Beyond the game: 5 Black athletes make Forbes’ top 10 highest-paid list
Black athletes are leading the charge, with five securing spots among the world’s top ten. They collectively earned $551.7 million.
Flutterwave hits $3.2 billion valuation under Nigerian tech entrepreneur Olugbenga Agboola
Under the leadership of Agboola, Flutterwave continues its mission to connect Africa to the world and vice versa by simplifying payments.
South Africa’s Ackerman family makes $11 million from Pick ‘n Pay stake
The recent increase follows a significant gain of $18.5 million between March 15 and April 9, when their stake in the retailer surged to $131.50 million.
South African tycoon Stephen Brookes’ Balwin sees revenue fall below $130 million
Brookes, a South African real estate mogul and founder of Balwin Properties in 1996, remains the company’s largest shareholder, holding a 36.08-percent stake.
Moroccan businessman Anas Sefrioui gains $29.9 million from ADH stake
Key Points: Moroccan businessman Anas Sefrioui, the majority shareholder of prominent Casablanca-based property developer Douja Promotion Groupe Addoha (ADH), has seen his…
Swazi billionaire Natie Kirsh’s net worth surges above $8.5 billion
Ranked 317th on the Bloomberg Billionaires Index, Kirsh derives a substantial portion of his wealth from private investments.
South Africa’s richest man hands some duties to new Richemont CEO
With over 30 years of experience at Richemont, Nicolas Bos is well-versed in the company’s operations and brand portfolio.
UAE group offers $558 million for stake in Egyptian billionaire family’s electric company
Founded in 1938 by the El-Sewedy family, Elsewedy Electric has become a major force in the electrical equipment manufacturing sector.
South African media mogul Terrence Moolman boosts fortune by $5.61 million
As Caxton’s CEO and co-founder, Moolman holds a 51.84-percent stake in the company, equivalent to 186,262,725 shares.
Nigeria to end petrol imports by June, says Africa’s richest man Aliko Dangote
Dangote said Nigeria could halt premium motor spirit (PMS), or petrol, imports by next month thanks to the Dangote Oil Refinery.
Zimbabwean tycoon Zed Koudounaris’ Innscor opens $30 million Bakers Inn unit
The $30-million Bakers Inn unit boasts cutting-edge technology capable of producing roughly 160,000 loaves daily, marking a leap in domestic bread production capacity.