Mauritian tycoon Arnaud Lagesse’s IBL rebounds after two difficult years
Lagesse and his siblings own a 16.8-percent joint stake in IBL Group, or 114,369,469 shares.
Egyptian billionaire Naguib Sawiris’ Ora Developers inks $103.1-million contract with Orascom
Ora Developers is a real estate operator and joint stock company.
Nigerian billionaire Femi Otedola celebrates 60th birthday on $750,000-a-week yacht owned by Aristotle Onassis
Otedola is one of Nigeria’s richest men.
Nigerian billionaire Aliko Dangote’s sugar company posts record earnings, with profits exceeding $56 million
Dangote owns 72.3 percent of Dangote Sugar Refinery.
Kenyan sugar baron Jaswant Rai-linked firm seeks approval to set up $42.2-million factory
The Rai family is one of the wealthiest families in Kenya.
South African billionaire Johann Rupert gains $220 million in October, as Richemont shares rebound
Rupert is South Africa’s richest businessman.
Kenyan billionaire James Mwangi’s stake in East Africa’s largest bank now worth $49 million
Kenyan billionaire Mwangi owns a sizable 3.38-percent stake in Equity Group.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $168.4 million in profit in 9M 2022
Rabiu derives the majority of his fortune from his 92-percent stake in BUA Cement.
Nigerian billionaire Mike Adenuga receives $3.1 million in dividends from oil company
Adenuga owns 74.4 percent of Conoil.
Kenyan banker Gideon Muriuki gains $1 million as Co-operative Bank shares rebound
Muriuki owns a two-percent stake in the leading financial services group.
Nigerian energy magnates Bryant Orjiako, Austin Avuru to pocket $2.15 million in Seplat dividends
Orjiako and Avuru own a 6.43-percent and 8.2-percent stake in Seplat Energy, respectively.
Egyptian billionaire Nassef Sawiris loses $110 million in single day as Adidas cuts ties with Ye
Sawiris is Egypt’s richest man and one of Africa’s wealthiest billionaires.
Kanye West no longer a billionaire as Adidas cuts ties with Yeezy brand
The majority of West’s fortune was based on a multiple of annual earnings from Adidas.
Adidas terminates partnership with African-American billionaire Kanye West
The decision will cost Adidas up to $247 million in earnings this year.
Egyptian tycoon Hassan Allam’s company to invest up to $150 million in Morocco
Hassan Allam Holding is one of the largest privately held corporations in Egypt.
Egyptian tycoon Ahmed El Sewedy’s electric company denies arranging $254-million credit facility
El Sewedy Electric is one of the leading players in Egypt’s electrical equipment manufacturing industry.