billionaires.africa news headlines

Key Points FCMB completed the first stage of its capitalization program, issuing 15.2 billion shares at N7.3 ($0.0044) each to strengthen its financial base and expand in Africa. Ladi Balogun highlighted the Central Bank of Nigeria and Nigerian Exchange Group's support in boosting i

Key Points Christopher Seabrooke's 40.61% stake in Sabvest Capital has dropped by $4.44 million over 11 days, reducing his total investment below $70 million. Sabvest Capitals stock fell 6.25% recently, from $4.47 to $4.17 per share, lowering its market cap below $165 million.

Key Points Custodian Investment forecasts a 119.74% profit increase in Q4 2024, expecting profit after tax to reach N30.98 billion ($18 million). The company projects a 31.59% rise in gross revenue, reaching N144.8 billion ($89 million) in Q4 2024 due to robust sector performance. <

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