South African billionaire Ivan Glasenberg set to acquire Italian bicycle maker, Pinarello
Glasenberg ranks among the world’s richest individuals, ranking 283rd on the Bloomberg Billionaires Index.
Kenyan tycoon John Kimani gains $3.7 million in 45 days
Kimani, known for his diverse investment portfolio, owns a 34.54-percent stake, equivalent to 6,762,133 shares, in Kakuzi.
Burkinabe tycoon Idrissa Nassa’s Coris Bank acquires Societe Generale’s assets in Mauritania, Chad
The latest move places Nassa-led bank as a key player among the new generation of emerging lenders.
Kenyan tycoon Julius Mwale’s $2-billion smart city project expands to Botswana
The expansion of MMTC to Botswana underscores Mwale’s dedication to fostering innovation and sustainable development across Africa.
Kenyan banker Gideon Muriuki’s Co-op Bank to transform banking experience with $50-million platform
Muriuki revealed that the core banking system upgrade, which aims to propel the bank to the “next growth frontier.”
Ahmed El-Sewedy’s ed-tech firm prepares to launch educational institution in Egypt
Under El-Sewedy’s leadership, the group’s ed-tech firm aims to establish universities that adopt innovative educational approaches.
Egyptian billionaire Yasseen Mansour’s Palm Hills faces profit decline in Q1 2023
Under Mansour’s leadership, the firm delivered exceptional financial results at the end of the 2022 fiscal year.
Nigerian ‘tycoon’ Dozy Mmobuosi allegedly running fraudulent company — Hindenburg Research
Mmobuosi is interested in acquiring the English Football League (EFL) club Sheffield United for more than $110 million.
Kenyan tycoon James Mwangi’s Equity Group loses $8.34-million tax dispute against KRA
Equity Bank Kenya is the Kenyan banking unit of Equity Group Holdings, a financial services groupi.
Nigerian billionaire Abdul Samad Rabiu raises $500 million to boost cement production
Rabiu’s company, BUA Cement, will develop two new, energy-efficient cement production lines at its plant in Sokoto State.
Led by Egyptian exec Pakinam Kafafi, TAQA Arabia to list more than 1 billion shares on EGX
Under Kafafi, TAQA Arabia has experienced remarkable growth.
Seven assets owned by Kenyan billionaire Humphrey Kariuki
Kariuki is one of the richest men in Kenya with businesses in real estate and hospitality, energy, beverages and infrastructure.
South Africa’s Ackerman family suffers $157-million loss from Pick ‘n Pay stake
Despite this setback, the Ackerman family remains among the country’s richest families and top investors on the local bourse.
Kenyan tycoon Baloobhai Patel transfers Bamburi cement stake to family office
Patel established Aksaya to consolidate his property, private equities, and public-traded equities into a single vehicle.
Wealth decline continues for Africa’s first Black billionaire Patrice Motsepe, as he loses another $100 million
The decline in Motsepe’s wealth can be attributed to the sustained drop in the share price of African Rainbow Minerals.
Billionaire Christo Wiese-linked retailer files for Dutch court approval for debt restructuring
Wiese-linked retailer Steinhoff files for Dutch court approval for debt restructuring as it looks to regain stability.