Billionaires.Africa

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 | Omokolade Ajayi

Key PointsMM Group partners with Tata Motors to distribute commercial vehicles in Egypt, expanding its automotive footprint in the country’s logistics sector. The lineup includes Tata’s Xenon, Ultra, Prima, and LP 613 bus models, tailored for Egypt’s transport and infrastructure demands. CEO Khaled Mahmoud drives MM Group’s growth, leveraging a vast retail network and brand partnerships to deepen market presence.

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsVista Equity Partners will acquire Acumatica from EQT, aiming to scale its AI-powered ERP platform for small and mid-sized businesses. With Vista’s backing, Acumatica plans to accelerate AI development, deepen partner ties, and expand its presence in the ERP market. The tech-focused Vista has completed over 600 deals worth over $320 billion, reinforcing its status under billionaire founder Robert F. Smith. Vista Equity Partners, the technology investment firm led by billionaire Robert F.