Feyisayo Ajayi

5 days ago | billionaires.africa | Feyisayo Ajayi

Key PointsPalm Hills to develop Jirian, a 361-feddan residential city in New Sheikh Zayed, excluding the Nile river frontage, part of a 1,600-acre masterplan. The two-phase development will deliver 6,500 units and target approximately EGP200 billion ($4 billion) in total residential sales. The project marks Palm Hills’ entry into the New Delta expansion, aligning with Egypt’s westward housing push and growing demand for large-scale residential infrastructure.

6 days ago | billionaires.africa | Feyisayo Ajayi

Key PointsJohann Rupert, South Africa’s richest man, is set to earn $20.7 million in dividends from Reinet following the company’s strong net asset growth in fiscal 2025. Reinet’s NAV rose 11.85% year-over-year to $7.89 billion, driven by strategic exits like BAT and high-yield investments including Pension Insurance Corporation Group. With a 24.9% stake in Reinet, Rupert remains its largest shareholder, and his holdings now contribute $1.32 billion to his $16.4 billion fortune.

6 days ago | billionaires.africa | Feyisayo Ajayi

Key PointsLowe’s announced a $672 million quarterly dividend, or $1.20 per share, marking a 4% increase and reaffirming its commitment to sustainable shareholder returns. Despite a 1.7% sales decline due to weather, Lowe’s saw mid-single-digit growth in Pro and online sales, highlighting resilience in key segments. CEO Marvin Ellison leads strategic investments and balance sheet improvements, reinforcing Lowe’s position as a Fortune 50 home improvement leader. Lowe’s Companies Inc.

1 week ago | billionaires.africa | Feyisayo Ajayi

Key PointsIDH’s Q1 2025 revenue surged 35% to $31.8M, driven by Egypt and Jordan, despite Ramadan-related test volume dips. Net profit fell to $4.92M due to lower FX gains but adjusted profits more than doubled with improved margins. Nigeria unit reached profitability; Saudi Arabia revenue rose with plans to open four new branches in 2025.

1 week ago | billionaires.africa | Feyisayo Ajayi

Key PointsIHS is exiting Rwanda in a $274.5 million deal, part of efforts to cut leverage and invest in high-growth markets like Nigeria and Brazil. The 1,465-tower sale, priced at an 8.3x EBITDA multiple, highlights strong investor demand for African telecom infrastructure. Paradigm Tower Ventures enters sub-Saharan Africa, expanding its footprint as demand for shared digital infrastructure accelerates across emerging markets.