billionaires.africa news headlines

Key Points Hani Berzi lost $9.29 million in wealth as shares of Edita Food Industries dropped 5.11% on the Egyptian Exchange in just five days. Berzis 41.95% stake in Edita Food Industries fell below $175 million, continuing a downward trend driven by macroeconomic challenges and cu

Key Points Giovanni Ravazzottis 33.88% stake in Italtile has dropped by R322.4 million ($18.01 million) after shares slid 5.52% on the JSE. Italtiles market capitalization has fallen below $1 billion as shares dropped from R13.05 ($2.036) to R12.33 ($1.954). Despite volatil

Key Points Adenia Partners exits OMOA Group, selling 100% stake to SPE Capital, marking the final exit from its 96-million ($106 million) Adenia Capital (III) fund. Adenias strategic upgrades, including new processing centers and enhanced ATM services, positioned OMOA as a regional

Key Points Sun International's profit surged to R932 million ($52 million) in H1 2024, nearly doubling last years R485 million ($27.05 million). Revenue grew 5% year-over-year to R5.99 billion ($333.8 million), driven by strong performance in gaming, which represents 77.4% of total

Key Points Standard Bank launches Reach, a digital platform, to streamline syndicated loan administration and boost operational efficiency. Reach offers a comprehensive view of loan data, streamlining communication and providing real-time access to critical information. Sta

Key Points ARMs 2024 profit plunged 75% to R2.29 billion ($128.5 million), its lowest in seven years, due to higher costs and lower revenue. Revenue fell to R12.92 billion ($722.9 million) from R16.1 billion ($900.8 million) as commodity prices dropped and operational costs increase

Key Points Acorn Holdings expands into Eldoret with a strategic land acquisition, marking its student housing growth beyond Nairobi. Acorn plans to raise $21.7 million through market offers and rights issues to fund new student hostels in key urban centers. Acorn's assets r

Key Points Sanlam's profit surged by 16.7% in H1 2024, reaching R11.32 billion ($636 million), driven by robust operating performance. Sanlams new business volumes reached R204 billion ($11.47 billion) in H1 2024, reflecting growing market share and product demand. Total as

Key Points The Khamis family's investment in Oriental Weavers has lost nearly $10 million due to declining share prices on the Egyptian Exchange. Oriental Weavers' market cap has dropped below $330 million, with shares declining 4.18% over 16 days. The Khamis family's stake