Tanzanian gold magnate Ketan Patel loses $2.3-million on paper as Shanta Gold shares plunge
As the founder of the Tanzania-based mining company, Patel currently holds a 4.22-percent stake in Shanta Gold.
Kenyan tycoon Jimnah Mbaru sells millions in shares, shakes up Britam ownership
While Mbaru’s recent transaction has reduced his stake in Britam, he remains the company’s largest individual shareholder.
South African tycoon Piet Mouton gains $59.1 million as Capitec Bank shares skyrocket
After suffering significant losses earlier this year, Mouton has bounced back with an impressive gain of $59.1 million in just 19 days.
Egyptian tycoon Ahmed El-Sewedy’s fortune soars as stake in electric company approaches $1 billion
El-Sewedy, alongside his siblings Sadek and Mohammed, collectively owns 68 percent of the company.
Kenyan banker Gideon Muriuki’s Co-op Bank adds over 500 jobs, bolstering expansion in Kenya
Under the leadership of Muriuki, Co-op Bank’s 2022 annual report revealed an impressive financial performance.
Meet the four African billionaires who signed The Giving Pledge
From Tanzania, Sudan, Zimbabwe and South Africa, meet the four African billionaires who have signed The Giving Pledge.
Michael Jordan is reportedly selling his Hornets stake for $3-billion
In 2010, Jordan who is today worth $2-billion, paid $275-million for a majority ownership in the Hornets.
Tanzanian billionaires Aunali and Sajjad Rajabali lose $2.8 million as CRDB bank shares plummet
Despite this setback, the Tanzanian billionaire brothers remain among the wealthiest investors on the Dar es Salaam Stock Exchange.
South African tech mogul Jens Montanana gains $17.6 million from Datatec stake
Montanana holds a 14.06-percent stake in the multinational technology company.
James Mwangi’s Equity Group set to acquire Rwandan bank for $48.2 million
Under the leadership of James Mwangi, who owns a 3.38-percent stake in the company, Equity Group saw a 15 percent increase in profit in 2022
Kenyan tycoon Jimnah Mbaru’s firm claims resounding win in $3.3-million legal battle
Dyer & Blair, owned by Mbaru, has emerged triumphant in a $3.3-million legal battle against former KCB Director John Kung’u Kiarie.
Egyptian billionaire Samih Sawiris plans major tourism investment in Saudi Arabia
Sawiris’ foray into the Saudi Arabian tourism market follows a series of successful ventures in other countries.
Flutterwave, led by tech billionaire Gbenga Agboola, suffers setback as court freezes 45 bank accounts
Flutterwave is widely recognized as Africa’s most valuable tech startup.
South African tycoon Sipho Maseko hits roadblock as Telkom rejects latest bid
Last week, Maseko supported by the Public Investment Corporation, presented a bold bid to acquire a 35-percent stake in Telkom.
South African billionaire Christo Wiese secures green light for lawsuit to reclaim wine estate
This approval comes nearly two years after Wiese initiated legal proceedings against the disgraced tycoon.
South African billionaire Stephen Saad rakes in $132 million as Aspen shares skyrocket
With a net worth of $1.2 billion, Saad’s 12.5-percent stake in Aspen Pharmacare accounts for a significant portion of his wealth.