Angolan tycoon Carlos Manuel de Sao Vicente sentenced to nine years over graft
He has been sentenced to nine years in jail by a local court for embezzlement.
Qatari-backed fund acquires luxury Cape Town hotel from John Moxon’s Meikles
Meikles Limited, a conglomerate controlled by Moxon, has sold off The Cape Grace at the V&A Waterfront.
Richemont, controlled by billionaire Johann Rupert, sells off 20-percent stake in Greubel Forsey
Greubel Forsey, which was founded in 2004, manufactures very complicated timepieces.
Mauritian businessman Hector Espitalier-Noel’s ENL suffers $23.98 million in losses in 2021
The multimillion-dollar losses posted by the Mauritian conglomerate brings its total operating losses since June 2019 to $47.6 million.
Egyptian investor Hisham Talaat Moustafa loses $12.4 million as Egyptian pound slumps
Moustafa failed to realize dollarized profits from his position.
Angolan businessman Alvaro Sobrinho has 10 days to pay deposit of $6.64 million
Aside from the $6.64-million bond, Sobrinho was subjected to a number of coercive measures.
Kenyan businessman Joshua Oigara’s KCB Group plans strategic acquisition in DRC
The proposed deal comes after the Oigara-led group expressed interest in negotiating another acquisition in Tanzania.
Kenya’s Kirubi family loses $2.6 million in 53 days
Kirubi died last year at the age of 80 following a four-year battle with illness.
Egyptian tycoons Hassan Allam, Ahmed El Sewedy back logistics startup Naqla with $10.5 million
Naqla has transported 4.6 million tonnes of goods in over 35 zones in Egypt since its inception over five years ago.
Ralph Mupita-led MTN Group reports double-digit percent decline in profits
Earnings were hurt by an impairment loss of $29.8 million.
Egyptian real estate mogul Hisham Talaat Moustafa’s TMG reports $2.06 billion in revenue in 2021
Moustafa, who played a key role in the firm’s transformation, controls a 43.16-percent stake in the conglomerate.
Zimbabwean tycoon Zinona Koudounaris gains $14.5 million since start of 2022
Koudounaris, a multimillionaire serial investor and one of Zimbabwe’s richest men, owns a 20.9-percent stake in Axia Corp.
Mauritian tycoon Hector Espitalier-Noel’s New Mauritius Hotels posts $12.5 million in profit
The pioneer and leader of the Mauritian tourism industry posted impressive results for Q2 2022.
Tanzanian Rajabali brothers gain $2.1 million as CRDB Bank shares skyrocket by double digits
The multimillionaire brothers, Aunali and Sajjad Rajabali, own a 2.6-percent stake in the Dar es Salaam-based lender.
South African tycoon Stephen Saad’s Aspen partners with Siemens to boost vaccine production for Africa
The collaboration will enable Africa’s largest drugmaker to increase its production capacity to meet the rising vaccine demand in Africa.
Egyptian tycoon Hisham Talaat Moustafa pledges $635,000 to Egypt’s national team
The multimillionaire made the pledge during a phone call with the country’s minister of youth and sports.