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.
Indian tycoon Sunil Bharti Mittal’s Airtel Africa becomes ‘most-capitalized’ on NGX
Airtel Africa is a leading provider of telecom and mobile money services in East, Central and West Africa.
Billionaire mining mogul Patrice Motsepe acquires luxury wine farm in South Africa
The leading businessman purchased the 28-hectare farm for between $5.5 million and $7.9 million.
Moncef Sellami’s OneTech Holdings reports $313.9 million in revenue in 2021
Sellami founded the industrial behemoth in 1978.
Egypt’s richest man Nassef Sawiris enters ‘exclusive negotiating agreement’ to own MLS 30th extension team
MLS is a men’s professional soccer league and the highest level of professional soccer in the United States and Canada.
Capitec CFO Andre Du Plessis’ shareholding in bank now worth $120.4 million
Du Plessis, a co-founder and the outgoing CFO of the South African bank, has a beneficial 0.008-percent ownership in the company.
Nigerian mogul Abdul Samad Rabiu’s food business posts huge profit since listing
The news comes despite a slump in fortified sugar sales and a single-digit increase in its direct production costs.
Moroccan tycoon Anas Sefrioui records $25.4-million gain as shares in Groupe Addoha soar
Sefrioui, one of Morocco’s richest men, controls a 64.1-percent stake in Groupe Addoha.
Egyptian tycoon Ahmed El Sewedy’s electric company signs $28.3-million contract for project in new administrative capital
Elsewedy Electric for Trading and Distribution is a 99.8-percent-owned subsidiary of Elsewedy Electric.
Kenyan tech entrepreneur Eric Muli’s Lipa Later secures $12 million to expand in Africa
Lipa Later is a Kenyan consumer credit platform co-founded by Kenyan tech entrepreneur Eric Muli in 2018.