Kenyan government suspends Tanzanian billionaire Rostam Aziz’s plans to build cooking gas plant
The freezing of his statutory licenses could lead to a trade spat between Kenya and Tanzania.
Egyptian businessman Medhat Khalil loses $42 million in 15 weeks from stake in Raya Holding
Raya Holding is an Egyptian investment conglomerate formed in 1999.
Bluebell Capital wants South African billionaire Johann Rupert’s Richemont to focus on jewelry, watches
This statement comes nearly a week after Richemont reported a double-digit increase in sales in Q1 2023.
Kenyan banking magnate Jimnah Mbaru loses $2.4 million from investment in Britam
Mbaru still remains one of the Nairobi Securities Exchange’s wealthiest investors.
Nigerian billionaire Aliko Dangote’s Dangote Industries completes $452-million bond issuance
The proceeds from the landmark transaction will be used to part-finance the Dangote Oil Refinery Project.
Billionaire Mohamed Mansour’s Infinity to acquire Lekela Power in Africa’s biggest renewable energy deal
Infinity is Egypt’s only dedicated renewable energy solutions provider.
Portuguese gov’t accuses Angolan businessman Alvaro Sobrinho of embezzling hundreds of millions of dollars
The businessman was charged with aggravated fraud and the lodging of about $6.12 billion.
Wealthy Kenyatta family loses more than $4.5 million in 100 days as NCBA shares slump
The stake is linked to Ngina Kenyatta, Muhoho Kenyatta, and Uhuru Kenyatta, a leading politician who has served as Kenya’s president since 2013.
Angolan billionaire Isabel dos Santos demands pardon after death of father
The dos Santos family also demanded an apology for the treatment of the former leader.
Nigerian billionaire Tony Elumelu says UBA’s global expansion incomplete without Gulf
UBA’s entry into the Middle East comes just six months after Elumelu publicly disclosed his interest in investing in the Caribbean.
Algerian tycoon Issad Rebrab’s Cevital partners with WEG to form electrical machinery company
The JV will produce motors for washing machines manufactured by Cevital and other partners.
South African mogul Johann Rupert’s net worth soars by $240 million in four days
The increase in Rupert’s net worth follows a surge in Richemont shares from $10 on July 15 to $11 today.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Group receives $15-million guarantee from FMO
NASIRA is a financial program that assists young, female, migrant, and COVID-19-affected entrepreneurs.
Namibian tycoon Quinton van Rooyen loses $47 million as Trustco shares slump to all-time low
Van Rooyen owns 63.94 percent of the leading Namibian company.
Zimbabwe’s richest man Strive Masiyiwa plans to raise $500 million to expand digital infrastructure business
C5 Capital, a specialist venture capital firm, will provide the financing.
Nigerian banking mogul Herbert Wigwe’s Access Holdings raises $1.7 million to support education in Nigeria
Wigwe said the funds will serve as a foundation for attaining a better future for the nation.