7 iconic assets the late South African businessman Eric Ellerine owned
Ellerine’s legacy extends beyond furniture retail, shaping the landscape of South Africa’s business and investment sectors.
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Black executive Paul Richardson earns $5.5-million salary from Walt Disney in 2022
Richardson’s compensation package comprises a base salary of $0.76 million and a performance-based short-term incentive of $1.67 million.
Eric Ellerine, one of South Africa’s richest men, dies at 90
As one of the country’s wealthiest individuals, his passing marks the end of an era.
Patrick Soon-Shiong: The doctor who turned cancer breakthroughs into billions
Tracing the extraordinary path of Soon-Shiong, whose innovative approach to cancer treatment laid the foundations of a $9.1-billion empire.
7 companies owned by multimillionaire Black tech executive Merline Saintil
From steering Fortune 500 giants to guiding space exploration at Rocket Lab, Merline Saintil’s influence extends to diverse ventures.
Top Black executive Desiree Ralls-Morrison earns $4.8-million salary from McDonald’s
With a $4.8-million compensation package, Ralls-Morrison’s leadership redefines the role of legal counsel in the corporate landscape.
5 companies owned by Malawian multimillionaire banker Hitesh Anadkat
As the visionary force behind FMB Capital Holdings, Hitesh Anadkat’s influence extends across Southern Africa, impacting the financial sector.
South African billionaire Michiel Le Roux rakes in $208 million from Capitec Bank
This surge in his fortune reaffirms his position among South Africa’s billionaires — firmly establishing his presence within the ranks of the continent’s financial elite.
Billionaire Mike Adenuga-linked Julius Berger delivers $425-million bridge to Nigerian gov’t
Julius Berger, the renowned construction giant partly owned by Nigerian billionaire Mike Adenuga, has officially handed over the N336 billion ($425.6 million)…
Nigerian tycoon Tony Elumelu’s UBA inks $6-billion deal to boost small businesses across Africa
Babatunde Ajayi, the head of SME Banking at UBA, spoke about the initiative during the Nigerian Canadian Business Association Business 2023 Roundtable held in Lagos.
Nigerian energy magnate Austin Avuru gains $39.1 million from Seplat stake
As one of the founders and former directors of the Lagos-based energy conglomerate, Avuru owns a significant 8.2-percent stake in Seplat Energy.
South African exec Derrick Msibi’s Stanlib plans $160-million investment in Africa’s renewable energy
Stanlib Asset Management, one of South Africa’s top investment firms, led by business executive Derrick Msibi, has unveiled plans to invest $160…
Egypt’s richest man Nassef Sawiris loses $180 million in 3 days
As a result of the recent $180-million slump in his fortune, Sawiris is currently the 308th wealthiest individual globally.
SA billionaire Johann Rupert’s Richemont rules out plans to invest in loss-making British luxury retailer
Last year, Rupert’s Richemont agreed to sell a 47.5-percent stake in its Yoox Net-A-Porter (YNAP) fashion and accessories business to Farfetch.
Kenyan tycoon James Mwangi-led lender grows stronger with $47-million Cogebanque deal
The move aligns with its strategy to bolster earnings and revenue by expanding its reach across East Africa.
Gabonese oil tycoon Samuel Dossou-Aworet’s stake in Seplat crosses $230-million mark
Dossou-Aworet has recorded a notable surge in his fortune, propelled by the performance of his holdings in Nigeria’s largest listed energy group.