billionaires.africa news headlines
Greek tycoon John Coumantaros gains $11.1 million from Flour Mills stake
John Coumantaros, the Greek multimillionaire and chairman of Flour Mills of Nigeria Plc, has experienced a remarkable rise in the market value of his stake in the renowned food and agro-allied conglomerate. According to recent data from Billionaires.Africa , Coumantaros' stake has risen
South African billionaire Christo Wiese's Brait completes $82.3 million rights issue
Brait SE, a South African investment holding company with billionaire businessman Christo Wiese among its major stakeholders, has successfully raised R1.5 billion ($82.3 million) through a rights offer. This move marks a significant show of investor confidence, strengthening Brait's financial st
Kenya's wealthy Merali family suffers over $4 million loss from Sasini Tea stake
Kenya's wealthy Merali family is grappling with a significant decline in the market value of their stake in Sasini Tea, marking a continuation of recent financial setbacks for the prominent agribusiness. According to data tracked by Billionaire.Africa , the Merali family's investment in
Cote d'Ivoire-based executive Francis Dufay announces 8-percent reduction in Jumia's operating losses
Francis Dufay, the Cote d'Ivoire-based executive of Jumia Technologies AG, announced an eight-percent reduction in the company's operating losses, despite the challenging economic environment. In its latest financial report, Jumia revealed that its operating loss decreased year-over-yea
Cameroonian banker Alain Nkontchou-led Ecobank reports $196-million profit in H1 2024
Ecobank Transnational Incorporated (ETI) has reported a staggering profit after tax of N311 billion ($196 million) for the first half of 2024, showcasing an impressive 196-percent increase compared to the N105 billion ($66 million) recorded in the same period last year. This exceptional
Aga Khan IV-backed Jubilee launches dollar-denominated money market fund
Jubilee Asset Management, a subsidiary of Jubilee Holdings led by Aga Khan IV, also known as Shah Karim al-Husayni, has launched a dollar-denominated money market fund. This new offering is designed for retail and institutional investors seeking stable returns in U.S. dollars.
Africa's richest man Aliko Dangote's firms secure $105-million in CBN FX auction
Fitch Ratings highlighted the group's urgent need to service a significant syndicated loan maturing in August 2024. The group plans to use funds from the equity sale to meet this obligation. However, Fitch expressed concerns about the timely completion of this sale. Delays could force the group
CBN denies investigating Ecobank, led by Cameroonian Alain Nkontchou, over alleged extortion
The Central Bank of Nigeria (CBN) has categorically denied any involvement in investigating Ecobank, led by Cameroonian Alain Nkontchou and its parent company, Ecobank Transnational Incorporated Specialised Resolutions Company (ETISRC), for alleged extortion activities. This clarificati
Attacq, led by South African executive Jackie van Niekerk, to offload mall stakes in Nigeria, Ghana
Attacq Limited , a JSE-listed real estate investment trust (REIT) led by South African executive Jackie van Niekerk, and Hyprop, a major specialized shopping center REIT in Africa, have announced plans to divest their stakes in shopping mall assets in Ghana and Nigeria. The assets will be sold t