Egypt’s richest man Nassef Sawiris loses $621.8 million due to slump in Adidas shares
Investors fear supply chain disruptions caused by COVID-19 could impact Adidas’ sales.
Kenyan tech tycoon Julius Mwale outbids participants in deal to control Mumias Sugar
The bid puts him ahead of steel tycoon Narendra Raval and Rai Group Chairman Jaswant Rai.
Nigerian billionaire Abdul Samad Rabiu donates $2.4 million to Nnamdi Azikiwe University
The donation was made through his Abdul Samad Rabiu Africa Initiative, the philanthropic arm of BUA Group.
Christo Wiese’s Invicta Holdings acquires controlling stake in Dartcom for $33 million
Dartcom is Africa’s leading distributor of communication and renewable energy technology solutions.
Mauritian businessman Guillaume Dalais to earn $158,600 in interim dividend from CIEL Limited
The dividend will be paid from the group’s full-year profits of $10.45 million for the period ending June 30.
Kenyan billionaire David Langat and family dragged to court over $152,000 travel debt
The plaintiff claims that they flew around the country and abroad for a year and now refuse to pay the bill.
Nigerian billionaire Benedict Peters’ Aiteo Group sues Shell over sale of OML-29 operating license
Aiteo Group has sued Shell for more than $2.5 billion over the ownership status of the OML-29 block.
African Judo Union President: ‘Businesses must support sport. It has the power to change the world.’
MP and AJU President Siteny Thierry Randrianasolo-Niaiko is one of Madagascar’s most dynamic public figures.
Obafoluke Otudeko wins twice on Nigerian Exchange as stake in First Bank gains $3.2 million in 10 days
The multimillion-dollar gain in Otudeko’s stake can be linked to price movements in the lender’s shares.
South African businessman Hendrik Jordaan’s 1K1V acquires $13.5-million stake in DigiCo
DiGiCo is an investment holding providing integrated technology services to the telecom sector.
Ugandan multimillionaire Charles Mbire in high spirits as MTN IPO looms
MTN Uganda has been operating in Uganda since 1998 when it acquired a 20-year license.
Congolese billionaire Lucien Ebata, advisor to president, arrested in Paris airport
French officials arrested him at Le Bourget Airport in Paris carrying a large amount of undeclared cash.
Billionaire Patrice Motsepe’s Sanlam finalizes deal to create massive South African money manager
The company’s merger with Absa Investments will result in one of the country’s largest Black-owned asset managers.
Former Steinhoff International CEO Markus Jooste gains $7.4 million in three months
Steinhoff is a South African-German-Dutch global retail holding dual-listed in Germany and South Africa.
Ten of the richest businessmen in Ethiopia — most of whom you’ve likely never heard of
Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands.
Egyptian property tycoon Hisham Talaat Moustafa looks to Iraq, Saudi Arabia for growth
Iraq’s instability over the past 30 years has created a demand for housing projects.