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Top Billionaires.Africa News

Namibia: Nigerian Billionaire Aliko Dangote Visits Namibia
Trade · Lagos

Namibia: Nigerian Billionaire Aliko Dangote Visits Namibia

100% Center coverage: 4 sources
Nigeria businessman Aliko Dangote of Dangote Group will be paying president Netumbo Nandi-Ndaitwah a courtesy visit on 19 June.See the Story
Nigeria: Zenith Bank to Exit CBN Regulatory Forbearance in June, Assures Dividend Payment
Africa · Nigeria

Nigeria: Zenith Bank to Exit CBN Regulatory Forbearance in June, Assures Dividend Payment

Coverage: 2 sources
The CBN had barred forbearance banks from paying dividends, awarding bonuses, or making offshore investments.See the Story
Dividend Payment: Zenith Bank Expects to Exit All CBN Forbearance Arrangements by End of H1 2025
Nigeria · Nigeria

Dividend Payment: Zenith Bank Expects to Exit All CBN Forbearance Arrangements by End of H1 2025

Coverage: 2 sources
Nigeria's leading financial institution, Zenith Bank, said it plans to exit all Central Bank of Nigeria's forbearance arrangements by the end of the firstSee the Story

$20mln Agreement Reinforces Beltone Leasing and Factoring’s Role in Driving Sustainable Finance in the Region

Secures USD 20 million in funding from the SANAD Fund for MSME and the Green for Growth FundFinance · EgyptSee the Story

Uganda to Host UNESCO Africa Engineering Week

100% Left coverage: 1 sources
In a significant milestone for Uganda’s growing reputation as a hub for international events, the country has won the bid to host the 11th UNESCO Africa Engineering Week and 9th Africa Engineering Conference from September 14–20, 2025, at the Speke Resort Convention Centre (SRCC) in Munyonyo, Kampala. This victory, announced by the Uganda Tourism Board (UTB) and the Uganda Institution of Professional Engineers (UIPE), underscores Uganda’s rising…Innovation · UgandaSee the Story

Kenny Fihla-led Absa accounting ‘in disarray,’ court denies property seizure bid

Key PointsCourt rejects Absa’s R6.7 million ($372,000) loan bid over disarrayed accounting, citing inconsistent bank statements and insufficient debt evidence. New CEO Kenny Fihla faces major legal blow as Johannesburg court demands full trial over disputed loan and conflicting arrears. Absa’s accounting errors spark consumer warnings, even as the bank pushes pan-African growth and green finance investment plans.Absa Group, the Johannesburg-base…Johannesburg · JohannesburgRead Article

South African tycoon Giovanni Ravazzotti gains $18 million from Italtile stake

Key PointsItaltile’s stock rally added $18.22 million to Giovanni Ravazzotti’s wealth, lifting his holding to nearly $420 million as of June 23.Shares rose from R9.70 to R10.14 between June 19–23, pushing market capitalization above $740 million amid renewed investor demand.Despite the rebound, Italtile shares remain down 28.29% in 2025; a $100,000 investment would now be worth roughly $71,710.South African businessman Giovanni Ravazzotti, the f…Johannesburg · JohannesburgRead Article

Hassanein Hiridjee’s AXIAN Telecom secures $28.8 million loan after Jumia stake deal

Key PointsAXIAN Telecom’s Yas Comoros unit secured a $28.8 million loan from IFC to expand broadband and boost digital access across the Comoros islands.The funding will support 5G, FTTH, and FTTO rollouts starting in 2025, enhancing services for consumers, SMEs, and public institutions.AXIAN Telecom is ramping up its pan-African growth, with over 42.9 million mobile subscribers and $1.4 billion in annual revenue.AXIAN Telecom, the pan-African t…5G · ComorosRead Article

Kenyan tycoon Humphrey Kariuki’s beverage business faces insolvency

Key PointsKenya’s tax authority triggered the move after a $317 million dispute; all company operations now fall under an administrator’s control.Administrator Peter Kahi has invited creditors to submit claims by July 18, 2025, with company directors suspended from operational control.The ASL case highlights ongoing risks in Kenya’s alcohol industry amid tax enforcement and restructuring pressures.Africa Spirits Limited (ASL), the alcoholic beve…Thika · ThikaRead Article

Dis-Chem founder Ivan Saltzman restructures $377.7 million stake among heirs

Key PointsIvan and Lynette Saltzman transferred $377.7 million in Dis-Chem shares to heirs Dan and Mark, reducing their holding via Ivlyn without affecting market liquidity.The move follows a 2024 share transfer of $47 million to Dis-Chem executives under a vendor-financed management retention scheme to strengthen leadership continuity.The intra-family restructuring underscores Dis-Chem’s broader succession strategy amid a growing trend of balan…South Africa · South AfricaRead Article

Tanzanian businessman Said Bakhresa plans $500 million factory expansion

Key PointsBakhresa commits $500 million to expand drinks factory, doubling daily output to 300,000 cartons and marking 50 years of operations.BFPL sources fruit from 100,000 farmers, reinforcing local agricultural ties and promoting quality raw material production through cooperatives.Exports grow beyond East Africa, with new shipments reaching Yemen and Oman as BFPL ramps up production and regional market reach.Tanzanian multimillionaire Said B…Tanzania · TanzaniaRead Article

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