Mozambican tycoon Salimo Abdula’s kidnapped son rescued in South Africa
One of the alleged kidnappers has been arrested. The search is still underway to arrest the remaining kidnappers.
Mauritian businessman Pierre Guy Noel gains $2.3 million in 2021 as MCB Group shares surge
MCB Group is Mauritius’ most extensive banking institution.
Ade Adeyemi-led Ecobank Group gets $113.2-million loan from EIB to support SMEs in Africa
Ecobank is the leading independent regional banking group in West and Central Africa.
Kenyan startup founder Ken Njoroge’s Cellutant links up with ImaliPay to ease payments for gig workers
ImaliPay is a financial platform for digital workers co-founded by two Cellutant alumni.
Egyptian tycoon Hassan Allam’s construction group secures first-ever project in Jordan
Hassan Allam Holding is Egypt’s leading privately owned engineering, construction, and infrastructure group.
Gideon Muriuki’s Co-operative Bank of Kenya secures $56.4-million EU loan to support SMEs
The facility will be used to provide capital and long-term local currency loans to businesses hit by COVID-19.
Moroccan real estate tycoon Alami Lazraq’s Alliances Group posts $37.2 million in revenue in Q3 2021
Alliances Group is Morocco’s largest home and hotel builder.
Honeywell Flour Mill gains $12.57 million as Greek tycoon John Coumantaros makes acquisition move
Honeywell Flour Mills is a leading flour and pasta product manufacturer in Nigeria.
Moroccan billionaire Othman Benjelloun’s Bank of Africa posts $268.1 million in net profit in 9M 2021
Bank of Africa is a multinational pan-African banking conglomerate with operations in 18 African countries.
South African billionaire Patrice Motsepe’s ARC to acquire Crossfin fintech platform
The acquisition marks a landmark deal in the fintech industry that will see Crossfin secure the requisite capital to pursue the next phase of its growth.
Egyptian billionaire Nassef Sawiris’ net worth slumps by $190 million in just a week
The decline can be linked to a slump in Adidas’ shares, as investors sell off their positions in the company.
Heineken loses over $4 billion in eight days after revealing plans to acquire Johann Rupert’s Distell
Distell is South Africa’s most expansive wine and spirits maker.
U.S.-Nigerian telecom tycoon Sam Darwish’s IHS Towers suffers $30 million in losses during Q3 2021
IHS Towers is the largest telecom infrastructure group in Africa, Europe, Latin America and the Middle East by tower count.
South African billionaire Nicky Oppenheimer gains $2.02 million from stake in IDH
One of the wealthiest men in Africa and the second richest man in South Africa, he holds a significant stake in IDH.
Save the Children UK appoints Nigerian billionaire Femi Otedola as vice president
His daughter, Florence Ifeoluwa Otedola, popularly known as “DJ Cuppy,” is a Save the Children ambassador.
Egyptian billionaire Yasseen Mansour’s Palm Hills plans to invest $242 million in 2022
The projected investment for the coming financial year represents a 52-percent increase from last year.