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.
Egyptian tech entrepreneur Ashraf Sabry loses over $10 million in 33 days
With a market capitalization of $1.38 billion, Fawry is one of Africa’s few tech companies worth over $1 billion.
Johann Rupert’s Richemont in talks with Prada and Farfetch to launch online retail platform
Richemont recently disclosed that it is in talks to sell off a majority stake in the loss-making online retailer YNAP.
Malagasy tycoon Hassanein Hiridjee’s Axian Group commits to $6-billion Actis energy fund
The investment highlights the group’s commitment to projects bolstering the global transition to renewable energy.
Mauritian businessman Hector Espitalier-Noel to pocket $300,540 in interim dividends
ENL is a conglomerate managing a diverse portfolio of more than 120 global and homegrown brands.
South African billionaire and Capitec Bank Founder Michiel Le Roux gains $359.61 million in 2021
Le Roux is the founder of Capitec Bank, one of South Africa’s largest retail banks.
Moroccan tycoon Karim Benjelloun’s Disway reports $119.1 million in revenue despite chip shortages
The company reported a growth in revenue as chip shortages rock the global technology industry.
Nigerian energy magnate Ambrosie Bryant Orjiako steps down as chairman of Seplat Energy
A board announcement issued by the energy group from its offices in Lagos confirmed the transition.
Abdulwasiu Sowami’s Ardova finalizes acquisition of Nigeria’s largest downstream oil group
Ardova is now Nigeria’s largest indigenous publicly-listed downstream energy group.
Tunisian tycoon Khaled Fakhfakh loses $1.08 million as BIAT shares retreat from record highs
The group maintains operations in banking, insurance and asset management.
Moroccan business tycoon Adil Douiri loses $2.68 million in four months as Mutandis shares slump
Douiri is a venture capitalist and politician, who founded Mutandis as a packaged foods retailer in 2008.
Kenyan businessman Benson Wairegi loses $740,000 as shares in Britam Holdings decline by nearly 10 percent
Wairegi stepped down from Britam’s board on May 28 after serving in the company for more than four decades.
Royal Family of Morocco loses $272.05 million in three weeks as shares in Morocco’s largest bank decline
Attijariwafa Bank is a Moroccan multinational commercial bank based in Rabat, Morocco.
Africa’s wealthiest man Aliko Dangote loses younger brother, Sani Dangote
The death of the Nigerian industrialist has sent shock waves across Africa’s richest economy.