Wealthy South African Mouton family loses $40 million in less than 10 weeks as PSG shares fall
The South African Mouton family owns 24.5 percent of the company.
Moroccan real estate billionaire Alami Lazraq loses $25 million in 55 days
Lazraq owns 51.7 percent of Casablanca-based property developer Alliances Developpement Immobilier SA.
Billionaire Issad Rebrab retires as CEO of Algeria’s largest private group, Cevital
On July 1, his son Malik Rebrab, who has previously held high positions in Cevital, will take over as CEO.
‘We won’t reopen Keroche,’ KRA replies to Kenyan liquor tycoon Tabitha Karanja
The Kenya Revenue Authority (KRA) said it is demanding full accountability from Karanja.
Tanzanian billionaire Mohammed Dewji looks to raise $1 billion to expand empire
Dewji, Tanzania’s richest man, is the CEO of MeTL Group, one of East Africa’s largest business groups.
James Mwangi’s Equity Group funds Kigali Financial Towers with $100-million investment
Rwandan President Paul Kagame participated in the groundbreaking ceremony of the project.
Aliko Dangote receives $704.1 million in Dangote Cement dividends
Dangote owns an 86-percent stake in Dangote Cement, Africa’s largest cement producer.
South African tycoon Johan Burger loses $5.8 million on investment in FirstRand
FirstRand Limited is Africa’s largest financial services group in terms of market capitalization.
South African businessman Alan Pullinger loses $4.35 million from stake in FirstRand
Pullinger owns about 0.1 percent of the leading lender, or 5,634,679 ordinary shares.
Africa’s richest man Aliko Dangote restates commitment to 1.5 metric tonnes per year of sugar production
Dangote Sugar Refinery has a refining capacity of 1.44 million metric tonnes.
Algerian media mogul Anis Rahmani jailed for graft
Rahmani, the head of Ennahar, had been on trial for violation of foreign exchange regulations.
Kenyan businessman Joe Wanjui sues British multinational firm Unilever over sale of stakes in Limuru Tea
Wanjui derives his wealth from a diversified investment portfolio.
Shell to receive final bids from Nigerian mogul Tony Elumelu’s oil firm, others for $2.3-billion oil assets
The move comes nearly a year after the British energy giant announced plans to divest its interests in Nigeria.
Moroccan billionaire Othman Benjelloun has now lost $200 million since start of 2022
Benjelloun, one of Africa’s richest billionaires, has a net worth of $2 billion.
Moroccan billionaire Aziz Akhannouch’s net worth slumps by $200 million since start of 2022
Akhannouch has a fortune of $2 billion.