Segun Agbaje-led GTCO posts lower earnings amid higher operating expenses
Agbaje holds a minority 0.14-percent stake in GTCO.
South Africa’s richest man Johann Rupert’s net worth slumps by $1.05 billion
The recent drop in his net worth brings his year-to-date wealth loss to $2.79 billion.
Zimbabwean mogul John Moxon’s Meikles records $11 million in profits in 2022
Meikles is a Zimbabwean conglomerate with a diversified portfolio of investments.
Africa’s richest man Aliko Dangote loses $2 billion in three months as Dangote Cement shares fall
Dangote derives the majority of his wealth from his 86-percent stake in Dangote Cement.
Nigerian billionaire Abdul Samad Rabiu suffers $1.2-billion loss in August from stake in BUA Cement
BUA Cement is Nigeria’s second-largest cement producer with a combined installed capacity of 8 million tonnes per annum.
Zimbabwean businessman Zinona Koudounaris loses over $53 million in 18 weeks from stake in Axia Corp
Koudounaris still ranks as one of the richest investors on the Zimbabwe Stock Exchange.
Led by Kenya’s richest families, NCBA Group plans to launch seven new branches before year’s end
This year alone, the group has launched four branches in Kenya.
Cameroonian banker Alain Nkontchou loses over $1 million from investment in Ecobank
The company’s market capitalization is presently $471 million.
Egyptian tech tycoon Mostafa Kandil gains over $1 million from stake in startup, Swvl Holdings
Kandil owns 6.35 percent of Swvl, a global supplier of disruptive tech-enabled mass transit solutions.
Walmart to buy remaining stake in South African mogul Mark Lamberti’s Massmart for $377 million
If shareholders agree, the retailer will be delisted from the Johannesburg Stock Exchange.
Kenyan banker Gideon Muriuki’s Co-operative Bank posts $95.6 million in profit in H1 2022
Its profit rose by more than 55 percent to $95.7 million.
Uganda’s richest investor Charles Mbire acquires additional 2.26 million shares in MTN Uganda
Mbire is anticipated to receive $1.16 million from the telecom group’s interim dividend payout.
Nigerian banking tycoon Jim Ovia’s Zenith Bank posts $264 million in profit in H1 2022
The increase in the bank’s profit can be attributed to a 17-percent rise in its gross earnings.
South African mogul Adrian Gore’s Discovery partners with BlackRock to launch new asset management entity
Gore revealed that the move is a strategic attempt to deliver value.
Egyptian mogul Medhat Khalil’s Raya to manage Zain KSA customer experience in Saudi Arabia
Raya CX will provide outsourcing services to Zain KSA.
South African-born billionaire Patrick Soon-Shiong’s net worth sheds $290 million in six days
His biotech company’s share price has dropped by more than 15 percent in the past six days.