Seplat spent $450 million in transactions linked to Nigerian energy magnates Bryant Orjiako, Austin Avuru
The payments were made to 18 firms linked to Orjiako and Avuru.
Led by Kenyan banker James Mwangi, Equity Group set to acquire Spire Bank
The acquisition could present additional challenges and opportunities to Equity Group.
Kenyan banking exec Jeremy Awori to take over from Ade Ayeyemi as CEO of Ecobank
Absa Bank Kenya reported triple-digit earnings growth in the 2021 fiscal year.
Nigerian multimillionaire banker Jim Ovia loses nearly $22 million in 11 days
Ovia owns a significant 16.2-percent stake in Zenith Bank.
African-American billionaire Oprah Winfrey earns $6.6 million in profit from sale of CA property
Her primary residence is still her 66-acre “Promised Land” estate in Montecito, California.
Egyptian billionaire Nassef Sawiris’ OCI N.V. to build ammonia plant in Texas
OCI N.V. stated that the project is well under way.
Kenyan investment banker David Owino’s Ascent Capital secures $128 million to invest in small businesses
Owino founded Ascent in 2012.
Nigerian banker Tony Elumelu’s UBA posts $164 million in profit in H1 2022
Elumelu owns a sizable 6.96-percent stake in the banking group, or 2,380,941,756 ordinary shares.
Egyptian businessman Raouf Ghabbour’s GB Auto considers selling stake in leasing business to Chimera
GB Lease was founded in 2008.
Senior banking executive Jeremy Awori steps down after decade as CEO of Absa Bank Kenya
His resignation will take effect on Oct. 31.
South African tycoon Jens Montanana’s Datatec joins UN corporate sustainability initiative
Montanana founded Datatec in 1986 and owns a significant 11.98-percent stake in the group.
North African billion-dollar conglomerates shine in Forbes ranking of Arab family businesses
Arab family businesses have recently experienced a V-shaped recovery.
South African mogul Adrian Gore’s Discovery posts more than $310 million in profit in 2022
Gore’s stake in Discovery is presently valued at $320 million.
South African billionaire Christo Wiese to pocket $13 million in Shoprite dividends
Wiese owns an 11.58-percent stake in Shoprite.
French businessman Jeremy Hodara’s Jumia partners with Zipline to pioneer drone delivery across Africa
Jumia is Africa’s leading e-commerce platform.
Swazi billionaire Natie Kirsh has now lost nearly half a billion dollars since start of 2022
Kirsh also owns 54 percent of Sydney-based Abacus Property Group.