Egypt’s richest man Nassef Sawiris loses $130 million in 2021
Egypt’s richest man Nassef Sawiris saw his net worth shed $130 million in 2021.
Only four African billionaires gained over $1 billion in 2021; here is how they performed
The year 2021 delivered impressive wealth gains for African billionaires and multimillionaires.
Billionaire Patrice Motsepe’s Sanlam fails to increase stake in Said Alj-led Saham Assurance Maroc
Sanlam backed down from its ambitious pan-African expansion drive after failing to meet key conditions.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement signs deal with Wartsila to construct power plant
BUA Cement is Nigeria’s second-largest cement producer and the largest cement producer.
Led by Hazem Hegazy, Al Baraka Bank Egypt targets $89.7 million profits in 2022
Al Baraka Bank Egypt SAE provides retail, corporate, and investment banking solutions in accordance with Islamic Sharia principles.
Jailed Angolan tycoon Carlos Sao Vicente continues fight for freedom
Vicente was once a prominent figure in Angola’s oil industry.
Zimbabwean fast food mogul Zinona Koudounaris gains $1.75 million on first trading day in 2022
Axia Corp is a Zimbabwe-based specialty retail and distribution business.
Mauritian real estate mogul Arnaud Mayer’s Evaco Group suffers $5.1-million loss in 2021
Evaco Group was founded by Mauritian businessman Arnaud Mayer in 2001 as a real estate development company.
Tanzanian med-tech tycoon Dilan Ellegala’s AfiyaSasa Africa to sell controlling stake to U.S.-based Xcelerate Inc.
AfiyaSasa Africa is a virtual health company founded by Tanzanian world-renowned spinal surgery specialist Dilan Ellegala.
Kenyan tech entrepreneurs Bendon Murgor, Eliutherius Juma’s Paylend raises $2 million in seed funding
Paylend provides credit access to small enterprises.
Egyptian tycoon Ahmed El Sewedy-linked Egytech Cables signs $28.1-million contract with Kuwaiti company
Egytech Cables is a 99.98-percent-owned subsidiary of the Elsewedy family-controlled Elsewedy Electric.
Moroccan PM Aziz Akhannouch gains $179.5 million from stake in Afriquia Gaz in 2021
Afriquia Gaz SA is a Morocco-based group engaged in refining and marketing liquefied petroleum gas.
Kenyan tycoon Charles Njonjo, country’s first attorney-general, passes away at 101
Njonjo died at his home early Sunday morning.
South Africa’s richest man Johann Rupert gains $3.88 billion in 2021
Rupert’s net worth got a shot in the arm in 2021 due to sustained buying interest in Richemont and Remgro shares throughout the year.
They will be missed: The African tycoons and billionaires who passed away in 2021
An Eritrean cereals tycoon and an Egyptian billionaire patriarch are among the African mega-rich who passed away in 2021.
Ethiopian billionaire Mohammed Al-Amoudi loses $855 million in 2021
Al-Amoudi, who is the wealthiest man in Ethiopia, has a net worth of $6.71 billion.