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Ninety-One boosts stake in insurer linked to Africa’s first Black billionaire to over $510 million
The move, disclosed in a regulatory filing on Friday, Feb. 21, 2025, underscores the deep relationship between the two firms.
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Tosin Eniolorunda, Moniepoint founder, eyes Europe’s 13 million unbanked adults
With 13 million adults in Europe still unbanked, he believes African fintechs can help bridge the gap.
Nigeria’s Sijuwade royal family, one of Africa’s wealthiest, eyes first oil from one of its oil blocks
The Sijuwade Group’s oil and gas arm holds a 10 percent stake in OPL 276, where production is slated to begin within the next 12 to 18 months.
Africa's richest man’s biggest bet: The $23 billion investment in Dangote Refinery
Reflecting on the decade-long journey to completion, Dangote told Forbes, “If this didn’t work, I was dead.”
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Alan Pullinger, South African banker, sees stake in FirstRand dip below $30 million
The decline in Pullinger’s stake reflects the broader uncertainty among investors.
Algerian-born French tycoon Sue Nabi’s stake in US beauty giant declines by $64 million
The recent decline has pushed the market value of her stake below $180 million.
South African businessman Barry Swartzberg’s Discovery stake rebounds by $20 million
The surge cements Swartzberg’s position as one of South Africa’s richest investors and a key player on the JSE.
TAQA Arabia, led by Egyptian executive Pakinam Kafafi, strikes deal to expand CNG use
The partnership aligns with Egypt’s push for cleaner energy in transportation, as the country looks to cut fuel costs and reduce carbon emissions.
South African billionaire Ivan Glasenberg’s Glencore stake slips below $5 billion
His holdings have declined by £647.19 million ($817.53 million) in the past month as Glencore’s stock fell under market pressure.
Abderrahmane Benhamadi, one of Algeria’s richest, to build Africa’s biggest AC plant
The facility, set to be built in Bordj Bou Arreridj, about 240 km east of Algiers, will require a $200 million investment.
Egyptian fintech mogul Mounir Nakhla’s MNT-Halan bets $10 million on Pakistan expansion
The company plans to open 100 new branches in Pakistan and expand its digital lending platform by the end of 2025.
Egyptian tycoon Hassan Allam’s firm seals deal to build nationwide EV charging network
The plan includes installing both alternate current (AC) and direct current (DC) chargers at high-traffic filling stations, making EV adoption more accessible.
Alan Pullinger, South African banker, sees stake in FirstRand dip below $30 million
The decline in Pullinger’s stake reflects the broader uncertainty among investors.
Egypt’s real estate mogul Hany El Assal’s Misr Italia rakes in $79.1 million sales in January
Misr Italia Properties saw a 200% contract sales surge in Jan. 2025, driven by strong demand, new project phases, and strategic investments across Egypt.
Egyptian billionaire shatters records as TMG hits $10 billion in 2024 sales
Egypt’s TMG Holding posts record $10 billion sales in 2024, a 253% surge, driven by expansion into Saudi Arabia and major North Coast projects.
Abdul Samad Rabiu, Nigeria’s third-richest man, donates $3.3 million at ex-President’s book launch
His $3.3 million donation, was the second-largest of the evening, surpassed only by Aliko Dangote’s contribution.
Africa’s richest man donates $5.3 million at ex-Nigerian President’s book launch
Speaking at the event, he credited Babangida’s economic policies—particularly the abolition of import licenses—for shaping Nigeria’s private sector.
Burkina Faso’s richest man secures $5.2 million to support Togo’s farmers
The funds will be channeled through Bonkoungou Distribution (BKG), a subsidiary of Mahamadou Bonkoungou’s EBOMAF.
Tosin Eniolorunda, Moniepoint founder, eyes Europe’s 13 million unbanked adults
With 13 million adults in Europe still unbanked, he believes African fintechs can help bridge the gap.
Burkina Faso’s banking tycoon Idrissa Nassa takes over TotalEnergies’ operations
The deal, executed through Coris Invest Group, one of Nassa’s holding companies, is part of a broader expansion into the oil sector.
Nigeria’s Sijuwade royal family, one of Africa’s wealthiest, eyes first oil from one of its oil blocks
The Sijuwade Group’s oil and gas arm holds a 10 percent stake in OPL 276, where production is slated to begin within the next 12 to 18 months.
NNPC acquires stake in $7 million CNG Plant owned by Nigerian businessman Greg Ogbeifun
NNPC acquires a 15% stake in Starzs Gas’ $7 million CNG plant, strengthening Nigeria’s clean energy drive, domestic gas expansion, and industrial development.
Nigerian oil mogul Jite Okoloko exits Eroton following major board shake-up
His exit comes amid a major board reshuffle led by political and business heavyweight James Ibori, signaling a new chapter for the company.
Kenya’s wealthiest banker takes a $3 million hit on Equity Group stake
The $3 million dip in his stake follows a modest increase of $1.2 million recorded between Jan. 1 and Jan. 22.
Kenya Airways, led by South African-born Kenyan businessman Michael Joseph, adds new boeing aircraft
The airline now operates 35 aircraft, boosting its capacity and efficiency as it competes in the African aviation market.
John Kimani, one of Kenya’s richest men, buys Centum shares worth nearly $2 million
His latest investment strengthens his position as Centum’s third-largest shareholder and reinforces his presence on the NSE.
Mauritian businessman Arnaud Mayer’s Evaco Group reports $1.2 million loss in H1 2024
Revenue dropped from MUR347.94 million ($7.5 million) to MUR232.4 million ($5 million), while finance costs surged to MUR63.1 million ($1.36 million).
Kenyan investor Baloobhai Patel buys $1.1 million additional stake in Co-op Bank
This move reflects his confidence in the bank’s potential and his ongoing commitment to expanding his influence in Kenya's financial industry.
Mauritian executive Aisha Timol leads Cim Group to $5.6 million profit in Q1 2025
Profit after tax grew by 13.6 percent, increasing from $4.97 million in the same period last year to $5.65 million.
Mauritian businessman Arnaud Dalais-led CIEL sees half-year profit slump below $50 million
While revenue edged higher, the group’s profit took a hit, weighed down by new tax levies and weaker contributions from its agro business.
Kenyan tycoon John Kimani faces $1.92 million loss on Kakuzi shares
Beyond Kakuzi, he holds a 5.21 percent stake in Centum Investments and 3.86 percent in Nation Media Group, spreading his bets across multiple sectors.
Ninety-One boosts stake in insurer linked to Africa’s first Black billionaire to over $510 million
The move, disclosed in a regulatory filing on Friday, Feb. 21, 2025, underscores the deep relationship between the two firms.
Trustco, owned by one of Namibia’s richest families, faces fresh suspension in South Africa
The move comes after Trustco revealed that it is considering delisting from the Johannesburg Stock Exchange as part of its plan to pursue a direct listing on Nasdaq.
Oppenheimer, South Africa’s second-richest man, is $550 million richer this year
In the first two months of 2025, his net worth has risen from $11.6 billion to $12.1 billion.
Neal Froneman, South African mining tycoon, leads Sibanye to $70.4 million profit in H2 2024
Sibanye-Stillwater posts a $70.4 million profit in H2 2024, driven by restructuring, cost-cutting, and higher gold prices as CEO Neal Froneman nears retirement.
South Africa’s richest man loses $400 million after brief surge to $17 billion
The drop followed a wave of profit-taking by investors, which pushed down the share price of Richemont, where Rupert holds a significant stake.
Anglo American, led by South Africa’s Duncan Wanblad, to pay $791-million dividend
This comes despite a 64.94 percent decline in headline earnings, underscoring commitment to shareholders amid a challenging operating environment.
Glencore weighs shock London delisting under South African executive Gary Nagle
Glencore’s review comes amid mounting concerns over the attractiveness of the LSE, where UK equities have traded at a persistent discount.
Sibanye, led by South African tycoon Neal Froneman, strikes chrome management deal with Glencore
The deal will see Glencore’s joint venture with Merafe Resources oversee Sibanye’s chrome recovery plants in South Africa.
Ethiopia's richest man adds $552 million to his net worth in 2025 after last year's loss
His net worth now stands at $9.4 billion, reinforcing his status among the world’s wealthiest individuals.
Africa’s richest man Aliko Dangote plans $400 million cement expansion in Ethiopia
The move is expected to double the facility’s annual capacity to 5 million tonnes, strengthening Dangote Cement Plc’s position as Africa’s leading cement manufacturer.
Zepz teams up with dLocal after $267 million raise to boost cross-border payments
The partnership aims to tackle financial access barriers in Africa, Asia, and Latin America, where millions are excluded from traditional banking systems.
Mohammed Al-Amoudi’s wealth falls $1-billion amid asset revaluation, legal disputes
Ethiopia’s wealthiest man, Mohammed Al-Amoudi, lost over $1 billion in recent months, with his net worth dropping to $8.76 billion.
Safaricom reaches 52 million subscribers in Ethiopia
The telecom giant reported this milestone with its half-year results, marking rapid growth in one of Africa’s biggest telecom markets.
Safaricom reports mixed results for H1 2025, faces challenges in Ethiopia, Kenya
East Africa's telecom giant, Safaricom, sees revenue growth but faces profitability hurdles.
Safaricom expands M-PESA platform to Ethiopia, boosting regional financial inclusion
The move aims to strengthen regional financial inclusion and boost economic activity across borders.
Somali tycoon Ismail Ahmed’s Zepz raises $267 million to expand in Africa
The venture capital firm Accel, along with Leapfrog and TCV, led the latest funding round for Zepz.
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TAQA Arabia, led by Egyptian executive Pakinam Kafafi, strikes deal to expand CNG use
The partnership aligns with Egypt’s push for cleaner energy in transportation, as the country looks to cut fuel costs and reduce carbon emissions.
Ninety-One boosts stake in insurer linked to Africa’s first Black billionaire to over $510 million
The move, disclosed in a regulatory filing on Friday, Feb. 21, 2025, underscores the deep relationship between the two firms.
South African billionaire Ivan Glasenberg’s Glencore stake slips below $5 billion
His holdings have declined by £647.19 million ($817.53 million) in the past month as Glencore’s stock fell under market pressure.
Kenya’s wealthiest banker takes a $3 million hit on Equity Group stake
The $3 million dip in his stake follows a modest increase of $1.2 million recorded between Jan. 1 and Jan. 22.
Trustco, owned by one of Namibia’s richest families, faces fresh suspension in South Africa
The move comes after Trustco revealed that it is considering delisting from the Johannesburg Stock Exchange as part of its plan to pursue a direct listing on Nasdaq.
Abderrahmane Benhamadi, one of Algeria’s richest, to build Africa’s biggest AC plant
The facility, set to be built in Bordj Bou Arreridj, about 240 km east of Algiers, will require a $200 million investment.
Kenya Airways, led by South African-born Kenyan businessman Michael Joseph, adds new boeing aircraft
The airline now operates 35 aircraft, boosting its capacity and efficiency as it competes in the African aviation market.
Oppenheimer, South Africa’s second-richest man, is $550 million richer this year
In the first two months of 2025, his net worth has risen from $11.6 billion to $12.1 billion.
Alex Karp loses $700 million after becoming third U.S. Black billionaire worth over $10 billion
The decline is tied to the performance of his 2.63 percent stake in Denver-based AI and big data analytics firm, Palantir.
Egyptian fintech mogul Mounir Nakhla’s MNT-Halan bets $10 million on Pakistan expansion
The company plans to open 100 new branches in Pakistan and expand its digital lending platform by the end of 2025.
Egyptian tycoon Hassan Allam’s firm seals deal to build nationwide EV charging network
The plan includes installing both alternate current (AC) and direct current (DC) chargers at high-traffic filling stations, making EV adoption more accessible.
Alan Pullinger, South African banker, sees stake in FirstRand dip below $30 million
The decline in Pullinger’s stake reflects the broader uncertainty among investors.
Abdul Samad Rabiu, Nigeria’s third-richest man, donates $3.3 million at ex-President’s book launch
His $3.3 million donation, was the second-largest of the evening, surpassed only by Aliko Dangote’s contribution.
John Kimani, one of Kenya’s richest men, buys Centum shares worth nearly $2 million
His latest investment strengthens his position as Centum’s third-largest shareholder and reinforces his presence on the NSE.
Neal Froneman, South African mining tycoon, leads Sibanye to $70.4 million profit in H2 2024
Sibanye-Stillwater posts a $70.4 million profit in H2 2024, driven by restructuring, cost-cutting, and higher gold prices as CEO Neal Froneman nears retirement.
Egypt’s real estate mogul Hany El Assal’s Misr Italia rakes in $79.1 million sales in January
Misr Italia Properties saw a 200% contract sales surge in Jan. 2025, driven by strong demand, new project phases, and strategic investments across Egypt.
