billionaires.africa news headlines

Absa Bank Kenya, a Nairobi-based lender partly owned by Kenyan businessman Baloobhai Patel, is ramping up its expansion efforts within the country with the opening of a new branch in Eldoret, its 85th branch in Kenya. The move is part of a broader strategy to enhance its presence in und

MTN Nigeria, the country's largest telecom operator led by leading business executive Karl Toriola, has reported a 32.8 percent increase in revenue to $927.07 million for the six months ending June 30, 2024. However, the naira's depreciation significantly eroded profitability due to for

Dangote Sugar Refinery, a leading integrated sugar business majority-owned by Nigerian billionaire Aliko Dangote, suffered a loss of more than $86 million in the first half of 2024. The company's retained loss totaled N77.1 billion ($46.4 million) as of June 30, 2024, turning the sugar

Egyptian billionaire Hisham Talaat Moustafa, chairman of Talaat Moustafa Group (TMG) Holding, has experienced a significant decline in the market value of his stake in the real estate group, spurred by recent pull back on the Egyptian Exchange (EGX). According to data tracked by Billion

Glencore Plc, the Swiss multinational commodity trading and mining giant led by South African executive Gary Nagle, is poised to unveil plans for a potential spinoff of its coal business at its upcoming result next week. This decision follows the recent acquisition of Teck Resources' coal mines

Access Bank, the flagship banking subsidiary of Access Holding, a leading financial services group led by Nigerian banker Aigboje Aig-Imoukhuede, has disbursed N740 billion ($456.8 million) through its QuickBucks digital loan platform over the past seven years. This initiative aims to enhance le

Conoil Plc, the Nigerian Exchange-listed petroleum marketing company controlled by billionaire Mike Adenuga, continued its strong performance in the first half of 2024, with revenue surging by 107 percent to over $110 million in the first six months of its current fiscal year. According

Egyptian steel magnate Ahmed Ezz, founder of Ezz Steel, Egypt's leading steel producer, has seen his stake in the company rebound, with its market value increasing by over $18 million. Ahmed Ezz's Ezz Steel stake up $18 million According to data tracked by Billionaires.Africa ,

Ivan Glasenberg, the South African billionaire and largest shareholder of Glencore, has seen his stake in the Swiss multinational commodity trading and mining company decline by $1.03 billion over the past 25 days. According to data tracked by Billionaires.Africa , Glasenberg's 9.81 per