Nigerian billionaire Abdul Samad Rabiu loses $500 million in less than 30 days
Rabiu derives most of his fortune from his 98-percent stake in BUA Foods and 92-percent stake in BUA Cement.
South African tycoon Adrian Gore’s Discovery announces secondary listing on A2X Markets
A2X Markets is a Sandton-based stock exchange founded in 2014.
Egyptian mogul Safwan Thabet’s Juhayna reports $7.5 million in profit in Q1 2022
Thabet owns a majority 50.07-percent stake in the group.
Court of Appeal blocks sale of real estate assets owned by Ugandan magnate Patrick Bitature
The decision comes at a crucial time for Bitature.
Zimbabwean billionaire Strive Masiyiwa loses $2.5 billion amid stock market sell-off
The slump in his net worth can be attributed to a plunge in the shares of his publicly traded companies.
Moroccan real estate billionaire Alami Lazraq loses $25 million in 55 days
Lazraq owns 51.7 percent of Casablanca-based property developer Alliances Developpement Immobilier SA.
Oprah Winfrey has now lost more than $100 million since beginning of 2022
Her net worth has dropped from $2.6 billion to $2.5 billion.
Mauritian tycoon Arnaud Lagesse-led IBL Group buys stake in leading Kenyan supermarket chain
The transaction highlights Naivas’ intrinsic value as Kenya’s largest supermarket chain.
Prosus N.V., led by South African billionaire Koos Bekker, sells $3.67-billion stake in JD.com
Prosus N.V. has grown into a leading global consumer Internet group.
South African mogul Neal Froneman’s Sibanye-Stillwater’s PGM mine in US suspended for 4-6 weeks
Regional floods led to the decision to pause operations.
Nigerian oil tycoon Adewale Tinubu’s Oando suffers $320 million in losses in 2020
Tinubu stated that 2020 was one of the most challenging years in the firm’s history.
Africa’s richest man Aliko Dangote to raise $723 million to finance $19-billion refinery plant in Lagos
The refinery’s pipeline infrastructure will process 540,000 barrels of Nigerian crude per day in the first phase of operation.
Nigerian tech tycoon Leo Stan Ekeh’s foundation plans to create 10,000 jobs
Ekeh is the founder of Zinox Group.
10 charitable foundations founded by African billionaires you should know
They’re putting their money when their mouth is.
Top 7 African billionaires of Instagram
They’re definitely worth following. Well, some of them at least.
Cameroonian media mogul Jean-Pierre Amougou Belinga’s Anecdote Group pays $3.2 million to tax authority
Belinga also runs Pura, a mineral water company, and Vision 4, a Cameroonian TV channel.