Egyptian mogul Safwan Thabet’s Juhayna says price increases caused revenue to exceed $270 million in H1 2022
Thabet founded the Egypt-based food products manufacturer nearly 38 years ago.
Egyptian billionaire Yasseen Mansour’s Palm Hills reports over $550 million in property sales
Mansour owns a sizable 5.22-percent stake in the real estate firm.
Kenya-based founder Stefano Carcoforo’s iProcure secures $10.2 million from investors
Carcoforo co-founded iProcure in 2013.
South Africa approves acquisition of Bokoni Mine by billionaire Patrice Motsepe’s ARM
The mining company announced that the multimillion-dollar transaction will go into effect on Sept. 1.
Uganda’s richest investor Charles Mbire gains $4.7 million from stake in MTN Uganda
The $4.7-million bump in his stake solidifies his position as the richest investor on the Uganda Stock Exchange.
Egyptian fintech founder Ashraf Sabry’s Fawry reports $5.1 million in profit in H1 2022
Fawry’s market cap is $640 million, while Sabry’s 2.345-percent stake is valued at $15 million.
Ethiopian billionaire Mohammed Al Amoudi’s wealth slumps after earning $230 million in July
His net worth fell in the first two weeks of August by $140 million.
Financial services firm linked to Egypt’s Sawiris family suffers over $12 million in losses in H1 2022
OFH was founded in 1997 by the late Onsi Sawiris, a member of Egypt’s billionaire Sawiris family.
Led by South African mogul Neal Froneman, Sibanye-Stillwater slashes output target for U.S. mines
The news comes nearly two months after it suspended operations in Montana for seven weeks.
Mike Adenuga beats out Abdul Samad Rabiu to reemerge as Nigeria’s second-richest billionaire
His net worth has dropped by more than $400 million this year as Globacom’s share price sank.
African-American billionaire Oprah Winfrey files lawsuit against creators of ‘Oprahdemics’ podcast
As the “Queen of Talk,” Winfrey has built a thriving media empire that includes Harpo Productions.
South African billionaire Johann Rupert-linked SEACOM partners with BT Group
Seacom is privately funded and 75 percent African-owned.
South African tech tycoon Zak Calisto gains $166 million in four weeks
Calisto is one of Africa’s richest tech entrepreneurs.
Namibian tycoon Quinton van Rooyen’s Trustco wins round in court against JSE
Shares in the group rose 35.56 percent as a result.
Led by Kenyan founder Owen Sakawa, AI-powered startup Elloe acquires Flo by Saada
Elloe was founded in 2021 by Sakawa, Abhijay Rao, and Aaron Madolora.
Controlled by Kenyan tycoons, Britam Holdings hints at sale of HF Group stake
Britam has classified its 48.2-percent stake in HF Group as held for sale.