Tunisian businessman Abdelwaheb Ben Ayed has now lost $4.6 million since start of 2022
Ben Ayed owns a beneficial 3.4 percent stake in the conglomerate.
Nigerian banking magnate Jim Ovia’s Zenith Bank posts $399 million in profit in 9M 2022
Ovia owns 16.2 percent of Zenith Bank.
Egyptian billionaire Nassef Sawiris loses $110 million in single day as Adidas cuts ties with Ye
Sawiris is Egypt’s richest man and one of Africa’s wealthiest billionaires.
American-Nigerian telecom tycoon Sam Darwish’s IHS Holding to spend $214 million to cut carbon footprint
Darwish owns 3.5 percent of the telecom infrastructure company.
Energy mogul Bryant Orjiako’s Seplat posts more than $70 million in profit amid surge in oil prices
Orjiako owns a 6.43 percent stake in Seplat Energy.
Ethiopian billionaire Mohammed Al-Amoudi gains $130 million in 30 days
Al-Amoudi derives the majority of his fortune from Preem and Svenska Petroleum Exploration.
Nigerian banker Herbert Wigwe’s Access Holdings to acquire stake in Sigma Pensions
Wigwe owns a significant 4.27-percent stake in Access Holdings.
Mauritian tycoon Arnaud Mayer’s Evaco rebounds from losses, profit soars above $2 million in 2022
Mayer founded Evaco in 2001 as a real estate development company.
Kenyan tech tycoon Julius Mwale meets President Julius Bio to discuss interest in Sierra Leone
Mwale is the primary investor in Mwale Medical and Technology City.
Kanye West no longer a billionaire as Adidas cuts ties with Yeezy brand
The majority of West’s fortune was based on a multiple of annual earnings from Adidas.
Egyptian mogul Medhat Khalil’s Raya Holdings becomes full owner of Haier-Raya Electric
Khalil owns 58.1 percent of Raya Holding for Financial Investments.
Segun Agbaje-led GTCO reports slight rise in earnings as profit nears $300 million in 9M 2022
Earnings during the first nine months of 2022 were significantly impacted by rising operating costs and tax obligations.
Adidas terminates partnership with African-American billionaire Kanye West
The decision will cost Adidas up to $247 million in earnings this year.
Egyptian tycoon Hassan Allam’s company to invest up to $150 million in Morocco
Hassan Allam Holding is one of the largest privately held corporations in Egypt.
South African billionaire Koos Bekker loses $345.5 million in 110 days from stake in Prosus
Naspers is a top cable TV operator and e-commerce investor.
Abdul Samad Rabiu overtakes Mike Adenuga to reemerge as Nigeria’s second-richest billionaire
Rabiu’s net worth has recently risen above $5.6 billion.