Cameroonian mogul Samuel Foyou’s group plans to review share capital of subsidiary, Plasticam
Foyou, one of Cameroon’s wealthiest men, derives his fortune from the hotel, food, and printing industries.
Kenyan government suspends Tanzanian billionaire Rostam Aziz’s plans to build cooking gas plant
The freezing of his statutory licenses could lead to a trade spat between Kenya and Tanzania.
Wealthy Kenyatta family loses more than $4.5 million in 100 days as NCBA shares slump
The stake is linked to Ngina Kenyatta, Muhoho Kenyatta, and Uhuru Kenyatta, a leading politician who has served as Kenya’s president since 2013.
Namibian tycoon Quinton van Rooyen loses $47 million as Trustco shares slump to all-time low
Van Rooyen owns 63.94 percent of the leading Namibian company.
Led by Nigerian banker Peter Ashade, United Capital earns more than $10 million in profit in H1 2022
Profit for the six-month period ending June 30 increased by more than 41 percent, from $7.38 million in the first half of 2021 to $10.42 million.
Zimbabwean billionaire Strive Masiyiwa loses $2.9 billion, reducing net worth to $1.5 billion
Zimbabwe’s richest man and one of Africa’s wealthiest men, Masiyiwa has seen his net worth fall to $1.5 billion.
Somali tycoon Ismail Ahmed’s Zepz denies delays in $6-billion IPO
Zepz, the parent company of WorldRemit, stated that it has yet to formally announce an IPO timeline.
Led by South African businesswoman Portia Derby, Transnet signs $1.5-billion credit facility to fuel growth
The credit facility will be used to finance the company’s capital expansion program.
Egyptian billionaire Naguib Sawiris considers sale of Italy’s largest Internet services group
Sources say the Sawiris-led group is considering selling a minority stake or even a controlling stake.
Nigerian logistics tycoon Taiwo Afolabi’s Sifax Group plans strategic move into energy sector
Founded in 1988, Sifax Group is one of Nigeria’s leading conglomerates.
Tanzania’s richest man Mohammed Dewji plans $4-billion grain production investment
Dewji, 47, is the owner of MeTL Group, a Tanzania-based conglomerate founded by his father in the 1970s.
South African multimillionaire Barry Swartzberg loses $87 million in 16 weeks
Swartzberg owns a 3.93-percent stake of the Sandton-based company.
Botswana retail tycoon Ramachandran Ottapathu loses over $4.4 million since start of 2022
Ottapathu remains one of Botswana’s wealthiest businessmen, along with his long-time business partner, Farouk.
South Africa’s second-richest man Nicky Oppenheimer’s net worth rises by $400 million this year
Oppenheimer maintains private equity investments in Africa, Asia, the United States, and Europe.
Kenyan beer tycoon Ngugi Kiuna ups stake in gas manufacturer, BOC Kenya
The acquisition solidifies Kiuna’s position in BOC Kenya as one of the company’s leading shareholders.
Ethiopia’s richest man Mohammed Al-Amoudi loses nearly $1 billion this year
Al-Amoudi has lost his position as Africa’s sixth-richest man to Nigerian billionaire Mike Adenuga.