Led by Nigerian banker Peter Ashade, United Capital earns more than $10 million in profit in H1 2022
Profit for the six-month period ending June 30 increased by more than 41 percent, from $7.38 million in the first half of 2021 to $10.42 million.
Michael Joseph-led Kenya Airways suspends London route ticket sales amid UK travel chaos
The recent development has the potential to significantly impact KQ’s third-quarter financial performance.
Zimbabwean billionaire Strive Masiyiwa loses $2.9 billion, reducing net worth to $1.5 billion
Zimbabwe’s richest man and one of Africa’s wealthiest men, Masiyiwa has seen his net worth fall to $1.5 billion.
Wealthy Mauritian Lagesse family loses $21 million in 74 days from IBL Group investment
However, the Lagesse family remains one of Mauritius’ wealthiest, most powerful families.
Tunisian businessman Mehdi Tamarziste gains $1.6 million in four weeks from stake in UBCI
The market value of his stake in the group places him among the richest investors on the Tunis Stock Exchange.
Moroccan PM Aziz Akhannouch’s net worth slumps by $300 million
Akhannouch derives the majority of his fortune from Akwa Group.
Meet Noluthando Gosa, South African businesswoman who owns $21-million stake in ArcelorMittal
Gosa leads Likamva Resources and Akhona Group.
Tanzanian Rajabali brothers lose $1.3 million after CRDB shares fall from record highs
Aunali and Sajjad Rajabali own a combined 2.6 percent stake in the Dar es Salaam-based CRDB Bank.
Egyptian tech tycoon Mostafa Kandil’s Swvl partners with German gov’t to power electric shuttles
Swvl is a global provider of transformative tech-enabled mass transit solutions.
African-American billionaire Kanye West sued by LA production firm over alleged $7.1 million in unpaid fees
The allegations come just a few weeks after West was sued for over $400,000 by a fashion rental service.
South African billionaire Johann Rupert’s luxury company records over $5.2 billion in revenue in Q1 2023
Despite the strong performance, Richemont shares have fallen 5.7 percent since this morning.
Nigerian businessman Tony Elumelu’s UBA opens new branch in Dubai
The opening brings UBA’s global presence to 24 countries and four continents.
Somali tycoon Ismail Ahmed’s Zepz denies delays in $6-billion IPO
Zepz, the parent company of WorldRemit, stated that it has yet to formally announce an IPO timeline.
Swvl, tech startup led by Egyptian entrepreneur Mostafa Kandil, moves to acquire Mexico’s Urbvan
Swvl is a global provider of transformative tech-enabled mass transit solutions.
Egyptian Khamis family loses more than $50 million in 16 weeks on stake in Oriental Weavers
The Khamis family is one of Egypt’s wealthiest families.
Led by Kenya’s Kirubi family, Haco Industries receives additional $2.3 million from Societe BIC
Haco Industries is one of the region’s leading FMCG manufacturers.