billionaires.africa news headlines

South African billionaire and pharmaceutical mogul Stephen Saad has seen the market value of his stake in Aspen Pharmacare decline by over $74 million in the past two weeks, due to a recent drop in the company's share price. According to data tracked by Billionaires.Africa , Saad's stak

Britam Holdings, a Nairobi-based financial services conglomerate partly owned by some of Kenya's wealthiest investors, has launched a three-month pre-incubation program for six fintech startups through its innovation hub, BetaLab. The initiative aims to address critical challenges in th

Access Holdings, the Lagos-based financial services giant led by Nigerian banker Aigboje Aig-Imoukhuede, has received approval from the Securities and Exchange Commission (SEC) to extend its N351bn ($229 million) rights issue until August 23. The extension was granted following disrupti

Seplat Energy Plc, the energy conglomerate co-founded and partly owned by Nigerian energy tycoon Austin Avuru, has announced an interim dividend payout of $17.61 million, reflecting its commitment to delivering value to its shareholders amidst a challenging economic landscape. The decla

MTN Group, Africa's largest mobile network operator led by Zimbabwean executive Ralph Mupita, has resumed governance talks with tower operator IHS Holding, after a year of strained relations. This follows the renewal of tower leases across 26,000 sites in six African nations -a pivotal commercia

Nigerian oil magnate Wale Tinubu has seen his wealth rise sharply since his uncle, Bola Ahmed Tinubu, became Nigeria's president in May 2023. As Group CEO of Oando Plc, Tinubu's stake in the leading energy group has surged to over $120 million, driven by a significant increase in share price. Th

Groupe Canal+ SA (Canal+), the media arm of Vivendi, a Paris-based firm controlled by French billionaire Vincent Bollore's Bollore Group, is set to become the majority shareholder in the Mauritian digital Pay-TV company MC Vision. The French media firm will raise its stake to 75 percent

Juhayna Food Industries, a prominent Egyptian dairy, juice, and cooking product manufacturer under the leadership of Safwan Thabet, has exceeded investor expectations with a remarkable surge in profits, reaching $30 million in the first half of its 2024 fiscal year. The company's recently re

Equity Group, East and Central Africa's leading financial services group led by Kenyan banker James Mwangi, achieved notable financial results for the first half of 2024. The group posted a profit of $229 million, marking a 12 percent increase from the same period last year, buoyed by strategic