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Top Billionaires.Africa News

Bill Gates says most of the $200 billion he's pledged to donate will go to Africa

Bill Gates · United States

Bill Gates says most of the $200 billion he's pledged to donate will go to Africa

37% Right coverage: 49 sources

Bill Gates is revealing his plans for the $200 billion he intends to give away through his foundation over the next 20 years, vowing that much of the money will go to Africa. See the Story

Budget Highlights Major Investment Opportunities in SA’s Water Sector

World Bank · South Africa

Budget Highlights Major Investment Opportunities in SA’s Water Sector

50% Left coverage: 4 sources

Citing a 2023 Southern Africa Towards Inclusive Economic Development (SA-TIED) report on SA’s water sector investment requirements, the Budget Review notes that a total estimated R7.2 trillion investment is needed by 2050 to achieve water security and universal access.See the Story

High Expectations as Dangote Breaks NNPC’s Monopoly, Shrinks EU Supply to Africa

Bola Tinubu · Nigeria

High Expectations as Dangote Breaks NNPC’s Monopoly, Shrinks EU Supply to Africa

Coverage: 2 sources

Dangote Cement Plc has opened a significant N100bn commercial paper issuance for investors’ subscription. The offering comprises Series 19, 20, and 21 commercial papers, launched under Dangote Cement’s robust N300bn Commercial Paper Issuance Programme. The primary objective behind the capital raise is to fund the company’s working capital requirements and address other short-term capital needs essential for its extensive operations. Investors ar…See the Story

Moove Eyes $300M Raise to Fuel Global Robotaxi Goal, Get Unicorn Status - Tech

Moove, a Nigerian-founded mobility company backed by Uber, is currently in the market for $300 million in fresh capital, The Information reveals. If successful, this raise will push its valuation beyond the $1 billion mark, giving the company unicorn status and enable Moove to become one of the top global drivers of sustainable urban transport. In just over a year, Moove’s annual revenue jumped from $115 million to $360 million. That’s around $3…Technology · Nigeria See the Story

Oando’s annual profit surges by 265% as higher oil sales boost revenue

100% Left coverage: 1 sources

Shares in Oando had appreciated by 6.8 per cent in Lagos as of 12:54 WAT, but had shed 4 per cent about the same time in Johannesburg, where it has a secondary listing following the news. The post Oando’s annual profit surges by 265% as higher oil sales boost revenue appeared first on Premium Times Nigeria.Taxes · Nigeria See the Story

South African exec. Gary Nagle-led Glencore halts some cobalt deliveries after Congo ban

Key PointsGlencore declared force majeure on some cobalt deliveries after Congo suspended exports to ease a supply glut that had depressed global prices.Glencore shifted $30 billion in mining assets, including coal and copper, into its Australian unit, doubling its asset base and signaling deal readiness.Cobalt prices have risen 35% since the export freeze, though it’s unclear if Congo will extend the ban or introduce quotas post-June.Glencore P…Trade · South Africa Read Article

Ghabbour family, among Egypt’s richest, gains $40 million on GB Corp shares

Key PointsThe Ghabbour family's 63.4% stake in GB Corp. surged in value by EGP2.02 billion ($40.65 million) over the past 18 days, driven by a 14% rise in the company's share price.GB Corp. reported a 71% year-on-year revenue increase in Q1 2025, exceeding $330 million. The strong performance reflects its dominance in Egypt’s premium auto segment.Year-to-date, GB Corp. shares have returned 39.75%, turning a $100,000 investment into nearly $140,0…Cairo, Egypt · Cairo Read Article

Ninety One to complete transfer of Sanlam Investments' active asset management business

Ninety One is expected to complete the transfer of Sanlam Investments UK Limited's active asset management business next week. This comes following the previous announcements about the deal in November 2024 and March this year.London, England · London See the Story

Africa’s newest billionaire Zak Calisto sells Karooooo shares worth $75 million

Key PointsZak Calisto offloads $75 million in shares to enhance Karooooo’s stock liquidity and widen its investor base, while retaining majority control of the company.Calisto’s stake falls from 64.81% to 58%, or 57.27% if underwriters fully exercise their option, but voting control remains secure through governance agreement.Karooooo’s fiscal 2025 revenue grew 8.6% to $249.87 million, driven by Cartrack’s expanding subscription base across 25 c…South Africa · South Africa See the Story

Malawian banker Hitesh Anadkat makes $73 million from FMB Capital stake

Key PointsHitesh Anadkat’s FMB Capital stake surged 13% in a week, boosting his net worth by $73.8 million to $642.8 million.FMB Capital’s market value topped $1.4 billion, driven by strong regional expansion across five Southern African countries.FMB stock rose 80.18% year-to-date, rewarding investors with gains reflecting growing confidence in African regional banking.After a difficult few months marked by sharp losses, Malawian banker Hitesh …Malawi · Malawi Read Article

Hisham Talaat Moustafa’s TMG eyes $2.4 billion in sales from Sharm Bay project

Key PointsTMG targets $2.4 billion in lifetime sales from its luxury Sharm Bay coastal project near Sharm El-Sheikh, anchored by high-end villas and resort-style amenities. Sharm Bay delivers a 20% profit margin, with $606 million recurring income from premium residences, marina, retail, and wellness offerings. TMG scales Middle East footprint, launching $3.9 billion Oman projects after strong Saudi entry, cementing regional dominance in luxury …Sharm El-Sheikh · Sharm El-Sheikh Read Article

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