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Egyptian businessman Medhat Khalil, the founder and chairman of Raya Holding, has experienced a substantial increase in the market value of his stake in the leading investment conglomerate. This follows a share split and a subsequent rise in the company's stock price on the Egyptian Exchange (EG

Letshego Holdings, a subsidiary of the Botswana-based transnational financial services firm partly owned by Malawian banking magnate Hitesh Anadkat, delivered a resilient financial performance in the first half of its 2024 fiscal year, with its profit surging above $11 million. Accordin

Heirs Holdings, a leading African investment firm led by Nigerian business executive Tony Elumelu, is set to expand its presence on the Nigerian Exchange (NGX) with plans to list more of its portfolio companies. This move aims to "democratize prosperity" by giving more Nigerians access to invest

South Africa's second-richest man, Nicky Oppenheimer, has made a remarkable recovery from a brief decline in his fortune, with his net worth soaring by $800 million in just two weeks. The 79-year-old businessman's net worth has rebounded from $10.5 billion on Aug. 8 to $11.3 billion, according t

San Francisco and Lagos-based fintech giant Flutterwave, led by Nigerian multimillionaire tech entrepreneur Olugbenga Agboola, has secured a Payment Systems Operator (PSO) license from the Bank of Uganda. This strategic move marks a key step in Flutterwave's expansion across Africa, adding Ugand

Lighthouse Properties-a prominent Malta-based real estate firm led by South African businessman Barry Stuhler-has declared an interim dividend of $25.19 million, highlighting its dedication to shareholder value despite a challenging economic environment. The dividend, set at €0.01217 ($

Sanlam Life Insurance, a subsidiary of Sanlam, a leading insurer partly owned by Africa's first Black billionaire Patrice Motsepe, has secured the Competition Tribunal's approval for its R6.5 billion ($365 million) acquisition of Assupol Holdings. This approval, granted with an employment-relate

Just 16 days after the crown jewel of his investments surged above the $700-million mark, Egyptian businessman Ahmed Ezz is hurtling towards billionaire status as his stake in Ezz Steel skyrockets to $807 million, fueled by optimism on the Egyptian Exchange (EGX) . Ezz-who ranks among t

Madinet Masr, a leading real estate developer led by Egyptian magnate Abdallah Sallam, has inked a Memorandum of Understanding (MoU) with Smart Construction and Development (SCAD). This partnership will drive the development of the Sarai multi-purpose project in New Cairo, valued at EGP650 milli