Siemens, Nassef Sawiris-linked Orascom to collaborate on world’s sixth-largest high-speed rail system
Sawiris owns 28.97 percent of Orascom Construction.
Namibia-based tech entrepreneur David Akinin’s JABU raises $15 million from investors
Akinin founded JABU in mid-2020.
African Bank to acquire Johann Rupert-linked Grindrod in $97-million deal
Grindrod is a freight logistics and shipping services company owned in part by Rupert’s Remgro Limited.
Nigerian businessman Fola Adeola’s IWOSAN Investments acquires Lagoon Hospitals
Lagoon Hospitals will be rebranded as IWOSAN Lagoon Hospitals.
Nigeria’s Kano State renames university after Africa’s richest man Aliko Dangote
Dangote’s net worth has risen by more than $1.88 billion this year.
Kenyan mogul Gideon Muriuki’s Co-operative Bank Group records over $103.5 million in profit in Q1 2022
Muriuki owns a two-percent stake in the group.
Jumia gains $250.7 million in 17 days after alleged takeover bid by Nigerian tech mogul Leo Stan Ekeh
Jumia shares have skyrocketed as of late.
Cameroonian mogul Paul Fokam’s Afriland exits Uganda over lack of customers
Fokam is one of Africa’s richest men, with a fortune assessed at more than $800 million in 2020.
Moroccan businessman Adil Douiri loses $2.6 million from stake in Mutandis
Douiri owns 6.88 percent of the consumer goods firm.
Nigerian tycoon Akanimo Udofia wins Akwa Ibom APC governorship primary
Udofia is the owner of Desicon Engineering.
Egyptian tycoon Ahmed El Sewedy’s electric company records over $44 million in profit in Q1 2022
The El-Sewedy family owns 68 percent of the corporation, or 1,478,689,860 ordinary shares.
Swazi billionaire Natie Kirsh gains $340 million in five days
Kirsh’s net worth is now estimated at $7.82 billion.
Nigerian tycoons Femi Otedola, Hassan-Odukale to pocket $3.9-million in dividends from FBNH
The news comes several months after the businessmen revealed their stakes in the bank.
Moroccan pharmaceutical tycoon Lamia Tazi loses $9.4 million from her stake in Sothema
Tazi owns a sizable 3.93-percent stake in the company, totaling 282,644 shares.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Group earns $23.2 million in profit in Q1 2022
Shah built I&M Group into East Africa’s leading commercial banking organization.
Strive Masiyiwa’s Ecocash discontinues waste collection services in Harare
EcoCash Holdings is now the fourth most valuable stock on the Zimbabwe Stock Exchange.