billionaires.africa news headlines

First Bank of Nigeria Holdings (FBN Holdings), a leading financial services group led by Nigerian billionaire Femi Otedola, has reported a significant surge in profit for the first half of 2024, cementing its position among Africa's most profitable financial services providers. FBN Hold

BUA Cement Plc, a leading cement manufacturer led by Nigeria's third-richest man Abdul Samad Rabiu, announced mixed financial results for the first half of its 2024 fiscal year. The company reported a significant increase in its revenue which surpassed $220 million, according to its una

Standard Bank Group, Africa's largest bank by assets led by South African banker Sim Tshabalala, has signed a Memorandum of Understanding (MoU) with the African Union Peace Fund to assist the African Union (AU) in mobilising resources for peace across the continent. Standard Bank will c

Aliko Dangote, Africa's richest man and the richest Black individual globally, has experienced a dramatic reduction in his fortune, losing nearly $10 billion in just six months. According to the Bloomberg Billionaires Index , Dangote's fortune - which surged to a record high of $23.3 bi

Shoprite Holdings, Africa's largest retailer and partly owned by South African billionaire Christo Wiese, has announced a record-breaking $13.14 billion in merchandise sales for the fiscal year ending June 30, 2024. This milestone represents a robust 12 percent increase from the previou

Sanlam, Africa's leading insurer, partially owned by South African billionaire Patrice Motsepe, has partnered with German multinational financial services company Allianz SE to form a $1.9 billion joint venture in Africa. This venture follows a year of extensive negotiations and regulatory appro

Hitesh Anadkat, one of Malawi's richest man, has seen the market value of his stake in FMB Capital Holdings rebound to $200 million, thanks to a recent rise in the market value of his holdings in the Mauritius-based investment firm. According to data tracked by Billionaires.Africa , Ana

MNT-Halan, Egypt's pioneering fintech startup and the nation's first unicorn led by tech entrepreneur Mounir Nakhla, has acquired Turkish commercial finance company Tam Finans. This strategic move, facilitated by Actera Group and the European Bank for Reconstruction and Development (EBRD), under

Burnstone, in partnership with Flanagan Gerard, has acquired a 50-percent stake in The Neighbourhood Square for R380 million ($21 million). Following successful past transactions, this acquisition marks a move to boost long-term income and capital growth. Additionally, the plans include