Led by Egypt’s richest family, Orascom Construction reports profits of $125.3 million in 2021
The billionaire Sawiris family controls 51.8 percent of the Egypt-based contractor through OS Private Trust Company.
Egyptian investor Hisham Talaat Moustafa loses $12.4 million as Egyptian pound slumps
Moustafa failed to realize dollarized profits from his position.
Kenyan banking mogul James Mwangi’s Equity Group reports record profits of $350 million
Equity Group has grown to become East and Central Africa’s largest financial services firm.
July Ndlovu-led Thungela recovers from deficits; earnings exceed $440 million in 2021
Thungela is a leading pure-play producer and exporter of high-quality, low-cost thermal coal.
Africa’s richest man Aliko Dangote set to launch continent’s largest fertilizer plant
The $2.5-billion urea fertilizer plant is reported to be the Africa’s largest granulated urea fertilizer complex.
Angolan businessman Alvaro Sobrinho has 10 days to pay deposit of $6.64 million
Aside from the $6.64-million bond, Sobrinho was subjected to a number of coercive measures.
Kenyan businessman Joshua Oigara’s KCB Group plans strategic acquisition in DRC
The proposed deal comes after the Oigara-led group expressed interest in negotiating another acquisition in Tanzania.
Led by Abdelmajid Iraqui Houssaini, TAQA Morocco declares profit of $131.3 million in 2021
TAQA Morocco has evolved into a prominent participant in Morocco’s energy industry.
Led by Egyptian Khamis family, Oriental Weavers open four new sales locations in Egypt
Oriental Weavers’ market capitalization is now valued at $324.9 million.
Nigerian banker Herbert Wigwe is set to receive $2.56 million in dividends from Access Bank
Wigwe has played a key role in the growth and expansion of the pan-African banking group.
Dubai-based businessman Sultan Ahmed bin Sulayem’s DP World acquires South African logistics firm
The buyout will see South African businessman Mohammed Akoojee earn at least $1.5 million.
Nigerian banking tycoon Tony Elumelu gains $3.7 million from stake in UBA since start of 2022
Elumelu is the founder of Heirs Holdings and Transcorp.
Angolan businessman Alvaro Sobrinho under investigation for allegedly embezzling $387 million
In 2015, Sobrinho was linked to a $5.7-billion fraudulent loan scheme.
Moroccan real estate mogul Alami Lazraq gains $25.7 million in 77 days
Lazraq is one of the wealthiest investors on the Casablanca bourse.
South African billionaire Patrice Motsepe’s net worth rises by $300 million in 11 weeks
The billionaire is one of the richest men in Africa.
Egyptian businessman Ashraf Sabry loses more than $8.5 million from stake in fintech unicorn
Sabry, who founded the payment platform in 2008 and pioneered electronic bill payments in Egypt, owns 2.345 percent of the company.