Nigerian tycoon Samuel Bolarinde’s Vitafoam posts $11.2 million in profit in 2022
Bolarinde owns a 13.03-percent stake in Vitafoam.
Money Fellows, led by Egyptian founder Ahmed Wadi, raises $31 million for expansion
Wadi worked on a number of projects for Microsoft and Daimler before founding Money Fellows in 2016.
Swazi billionaire Natie Kirsh’s net worth soars by $300 million in October
Kirsh is one of Africa’s wealthiest businessmen.
Africa’s richest man Aliko Dangote’s cement firm posts $486-million profit as energy costs rise
Dangote Cement is finding it hard to outdo its performance last year.
South African mogul Mark Lamberti’s Massmart to close Game stores in Nigeria on Christmas day
Massmart is the continent’s second-largest consumer product retailer.
Tunisian businessman Abdelwaheb Ben Ayed has now lost $4.6 million since start of 2022
Ben Ayed owns a beneficial 3.4 percent stake in the conglomerate.
Energy mogul Bryant Orjiako’s Seplat posts more than $70 million in profit amid surge in oil prices
Orjiako owns a 6.43 percent stake in Seplat Energy.
Mauritian tycoon Arnaud Mayer’s Evaco rebounds from losses, profit soars above $2 million in 2022
Mayer founded Evaco in 2001 as a real estate development company.
Segun Agbaje-led GTCO reports slight rise in earnings as profit nears $300 million in 9M 2022
Earnings during the first nine months of 2022 were significantly impacted by rising operating costs and tax obligations.
Botswana-based mogul Jonathan Gibson gains $1 million from stake in Chobe Holdings
Gibson is Chobe’s deputy chairman and CEO.
Zimbabwean social entrepreneur Tsitsi Masiyiwa launches AGI to tackle gender inequality in Africa
AGI was introduced more than seven months after Masiyiwa, along with other notable businesswomen and philanthropists launched a $1 billion gender fund.
Startup led by three Egyptian entrepreneurs raises $3.5 million eight months after launch
Kenzz aims to deepen e-commerce adoption in Egypt.
British-Nigerian entrepreneur Ladi Delano’s Moove secures $16.6 million to scale up UK operations
Founded by Delano and Jide Odunsi in 2020, Moove has successfully scaled to nine markets across Sub-Saharan Africa and India.
Cameroonian businessman Paul Fokam’s Afriland launches Togo investment holding
Fokam is one of Africa’s richest men.
South African businessman Fleetwood Grobler-led Sasol declares force majeure due to Transnet strike
Sasol operates in 33 countries and employs 30,100 people globally.
Moroccan real estate billionaire Alami Lazraq loses $8.3 million in 16 days from stake in ADI
ADI is an active member of the Alliances Group.