Timilehin Adejumobi

2 days ago | billionaires.africa | Timilehin Adejumobi

Key PointsZak Calisto’s stake in Karooooo rose by $71.5 million in two weeks, driven by a 9.67% surge in the company’s Nasdaq-listed shares. Calisto owns a 64.81% stake—roughly 20 million shares—in Karooooo, a global SaaS mobility firm founded in South Africa in 2001. Despite a 10.37% year-to-date stock decline, Karooooo remains a dominant player in fleet management and telematics, serving 2.2 million users globally.

2 days ago | billionaires.africa | Timilehin Adejumobi

Key PointsCIVH’s new valuation stands at $667 million, far below Remgro’s $1.4 billion figure, prompting scrutiny over its telecom asset’s market value. Vodacom’s $322.57 million bid for 30% of Maziv faces delays after regulatory pushback; a court decision is expected by July 2025. Remgro’s 2024 headline earnings surged 39% to $200.53 million, despite impairments in Mediclinic and Heineken Beverages holdings.

4 days ago | billionaires.africa | Timilehin Adejumobi

Key PointsVodacom updates medium-term guidance, forecasting double-digit EBITDA growth through 2030, driven by strategic bets in Egypt and fintech. The acquisition of a 55% stake in Vodafone Egypt boosts Vodacom’s Africa growth strategy, benefiting from regulatory support and currency stability. Vodacom faces high capital expenditure but is focused on network efficiency and a potential stake in fiber operator Maziv to strengthen its South African position.

6 days ago | billionaires.africa | Timilehin Adejumobi

Key PointsDavido is expanding his empire into Nollywood, investing in film production alongside music, aiming to revitalize the struggling industry. The Grammy-nominated artist's fifth album, “5ive,” features global stars like Chris Brown and reinforces his influence in music. Beyond music, Davido is involved in his family's billion-dollar energy company, Pacific Energy, contributing to Nigeria’s power sector.

1 week ago | billionaires.africa | Timilehin Adejumobi

Key PointsAckerman family’s stake in Pick n Pay surged by $19.35 million in two weeks, now worth over $180 million. Pick n Pay shares jumped 12% on the JSE, lifting market cap past $1 billion amid restructuring and expansion. The retailer’s rebound follows strategic store closures and expansion, including a new outlet at Westown Square. South Africa’s wealthy Ackerman family, founders of Pick n Pay,  has seen significant paper gains from shares in the country’s second-largest grocer.