Aliko Dangote’s refinery, others under pressure as NNPC ends naira-for-crude deal
The move is expected to drive up operational costs and could lead to higher fuel prices.
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South Africa’s Saltzman family sees $45 million wipeout as Dis-Chem shares plunge
This latest drop comes after a $26.33 million loss earlier in the year.
Edita, led by Egyptian businessman Hani Berzi, sees profits slip below $30 million on rising costs
While revenue surged, higher operational costs and currency devaluation cut into profits, pushing earnings below the previous year’s $30 million benchmark.
Moroccan businessman Alami Lazraq’s real estate stake falls below $700 million
The decline comes after a strong run earlier this year. Between Feb. 11 and 19, the value of Lazraq’s holding jumped by $89.7 million.
South African billionaire Patrice Motsepe to pocket $25.4 million from mining business
This payout comes despite a 25% dividend cut amid falling earnings and financial strain in a volatile commodity market.
Naguib Sawiris, Egypt’s second-richest man, is $469 million richer this year
This follows a $500 million gain in 2024 when his fortune increased from $6.48 billion to $6.98 billion.
South African billionaire Christo Wiese’s Shoprite stake drops below $1 billion—first time in months
The decline reflects growing pressure on retail stocks in South Africa, as investor sentiment shifts on the Johannesburg Stock Exchange.
Malawian insurance mogul Vizenge Kumwenda gains $10.8 million from NICO stake
Beyond his investment in NICO Holdings, Kumwenda also owns a 0.17-percent stake in NBS Bank, valued at MWK1.73 billion ($1 million).
Egyptian billionaire Yasseen Mansour leads Palm Hills to $536.1 million revenue in 2024
Palm Hills Developments' revenue surged 55.6% to $536 million in 2024, doubling profits as unit sales soared as strong asset growth cements its market leadership.
Adidas sells off Kanye West’s Yeezy stockpile, bringing in $1.52 billion in two years
Adidas partnered with Kanye West in 2015 to launch Yeezy, boosting his net worth to $2 billion in 2022.
Malawi’s 15 richest people amass a stunning $1.92 billion fortune
Anadkat and Mpinganjira account for $1.66 billion of the total combined wealth of Malawi’s 15 richest individuals.
Nigerian tycoon Kessington Adebutu’s Wema Bank plans $98.9 million rights issue
The offering includes 14.29 billion shares priced at N10.45 ($0.007) each, reinforcing the bank’s efforts to strengthen its financial position.
South African tycoon Adrian Gore’s stake in Discovery rises by $42.9 million in three weeks
The steady rise in Adrian Gore’s stake reflects growing investor confidence in Discovery.
Zimbabwean billionaire Strive Masiyiwa’s Econet to pay $18.9 million to investors
Econet Wireless to pay $18.91 million dividend, up 32.73%, as data revenue surges, reflecting a shift toward data-driven services.
Nassef Sawiris, North Africa’s richest man, is $264 million richer this year
This follows a $310 million gain in 2024, when his wealth increased from $8.41 billion to $8.72 billion.
Seplat, co-founded by Nigerian tycoon Austin Avuru, to pour $320 million into onshore expansion in 2025
The company’s capital expenditure guidance for 2025 includes between $180 million and $220 million allocated to its Seplat Onshore division.