Mitch Slape-led Massmart Holdings sustains sales above $3.9 billion, valuation jumps by 10 percent
Massmart Holdings is the second-largest consumer goods distributor in Africa.
U.S. fast food chain Burger King launches first outlet in Nigeria under Antoine Zammarien
Burger King is one of the many international companies drawn to Africa thanks to its appealing demographics.
Moroccan tycoon Karim Benjelloun gains nearly $3 million in three months as Disway shares surge
Disway is Morocco’s first technology distributor and a leading computer hardware distributor in the Maghreb region.
Vivienne Yeda-led Kenya Power rebounds from losses, profit soars above $13 million in H1 2021
Kenya Power transmits, distributes and retails electricity to customers throughout Kenya.
Nigerian oil tycoon Gabriel Ogbechie’s Rainoil acquires majority stake worth $26.1 million in Eterna
Founded in 1997, Rainoil is a prominent player in the Nigerian oil industry.
Egypt’s richest man Nassef Sawiris gains $80 million in October, as Adidas shares close in positive territory
The billionaire’s net worth climbed from $6.79 billion at the start of the month to $6.87 billion at its close.
Hazem Hegazy-led Al Baraka Bank Egypt suffers single-digit decline in earnings, net profit falls below $65 million in 9M 2021
Al Baraka Bank Egypt SAE is an Egypt-based commercial bank providing retail, corporate and investment banking solutions.
Nigerian billionaire Mike Adenuga’s petroleum company posts $3.9 million in profit for 9M 2021
Conoil is a Nigerian petroleum marketing company, operating under the leadership of billionaire Mike Adenuga.
Edwin Kinyua-led East African Portland Cement rebounds in 2021 after significant losses last year
EAPC is a Kenya-based construction company specializing in cement sales and production.
Tunisian tycoon Mehdi Tamarziste loses $4.1 million in six months as UBCI shares slump from record high
UBCI is a commercial bank based in Tunis, Tunisia’s capital. It operates as a subsidiary of BNP Paribas.
South African billionaire Nicky Oppenheimer gains $220 million in October
At his current wealth valuation, Oppenheimer is ranked the 332nd richest man in the world.
Jens Montanana’s Datatec to pay shareholders $70 million in special dividend after Westcon loan repayment
Datatec is a South Africa-based ICT solutions and services group operating in more than 50 countries.
Moroccan financial services magnate Said Alj gains $1.85 million in two months as Saham Assurance shares surge
Saham Assurance is a Moroccan insurance group and an operating subsidiary of Sanlam Group.
Aliko Dangote’s cement group reports highest-ever 9M revenue, profit surges above $670 million
It is the largest figure since the leading cement group commenced operations about 40 years ago.
Gambling magnate Kessington Adebutu donates eye center to Nigerian university teaching hospital
The donation to the center in Ogun State was made through his philanthropic foundation.
Aliko Dangote’s salt-processing business reports $5.9 million in profit in 9M 2021
The Nigerian billionaire has received $1.6 million in dividends from the company since the start of 2021.