Africa’s sixth richest man Abdul Samad Rabiu loses $600 million; net worth falls below $5 billion
The loss was due to poor performance by his company, BUA Cement, on the Nigerian Exchange.
South African businessman Piet Mouton gains over $75 million in 29 days from stake in Capitec Bank
The gain in Mouton’s stake can be linked to double-digit growth in the share price of the South African lender.
Diane Karusisi-led Bank of Kigali reports 33-percent increase in profit, earnings surge above $35 million
BK Group is a non-operating holding registered with the Rwanda Development Board.
Egyptian businessman Medhat Khalil gains $42.05 million in 15 days as Raya Holding shares surge
Raya Holding is an Egypt-based investment conglomerate majority owned by Egyptian tycoon Medhat Khalil.
James Mwangi-led Equity Group posts $240.83 million in profit in 9M 2021
Equity Group Holdings is Kenya’s leading financial services holding.
Strive Masiyiwa’s Liquid Intelligent Technologies partners with IFC to boost digital infrastructure in Africa
The partnership is expected to drive universal and affordable broadband access across the continent.
South African billionaire Patrice Motsepe’s ARC moves to buy, delist CSG Holdings
CSG offers staffing solutions, facilities management and personnel and industrial support in South Africa.
Johann Rupert’s Richemont gains 2.4 percent in single day as investors react to hedge fund taking equity position
The U.S. hedge fund Third Point Management owns a 1.2-percent stake in the Swiss company.
Moroccan politician Adil Douiri’s Mutandis posts $127.8 million in revenue in 9M 2021
Mutandis is an industrial group with operations in four business segments in the consumer goods industry.
Nigerian billionaire Femi Otedola sees stake in FBNH rise by $4.9 million since early November
FBNH is one of the top five financial services providers in Nigeria, Africa’s largest economy.
Malawian tycoon Hitesh Anadkat gains $40.53 million in 2021 as shares in FMB Capital Holdings surge
Anadkat founded the holding in 1995 and is the largest shareholder in the leading financial services group.
Ramachandran Ottapathu’s Choppies posts profit for first time since 2016, earnings surge above $5 million
Choppies Enterprises Limited is a Botswana-based investment holding company operating in the retail sector in Southern Africa.
Africa’s wealthiest man Aliko Dangote sees net worth rise by $1.4 billion in 2021
The richest Black man alive has amassed a staggering $19.2-billion net worth through Dangote Group.
Moroccan multimillionaire Hassan Amor loses $6.7 million in 11 days as wary investors offload stakes in Microdata
Microdata is a leading Moroccan IT company, providing integration, support and consulting services.
Egyptian real estate tycoon Hisham Talaat Moustafa gains $107 million as TMG shares surge
TMG is one of the largest conglomerates in Egypt, founded by the late Talaat Moustafa in 1974.
Karl Toriola-led MTN Nigeria receives preliminary green-light to operate payment service bank
Both MTN Nigeria and Airtel Africa have received approval-in-principle for a service bank license.