Malagasy businessman Hassanein Hiridjee’s AXIAN Group launches renewable energy subsidiary, NEA
AXIAN Group is a Malagasy-based pan-African conglomerate.
Led by Kenya’s richest families, NCBA Group plans to spin out M-Shwari, other fintech businesses as separate unit
NCBA Group is partly owned by the super-rich Kenyatta, Merali, and Ndegwa families.
Ugandan tycoon Sudhir Ruparelia-linked Crane Bank loses $212.5 million against dfcu Bank
Ruparelia had a $1.1-billion net worth in 2012.
Tunisian businessman Habib Essayeh loses $4.4 million in 47 days from stake in Euro-Cycles
Essayeh owns a sizeable 33.6-percent stake in the Tunis-based firm.
African Bank secures approval to acquire Johann Rupert-linked Grindrod in $97-million deal
Grindrod Limited is owned in part by Remgro Limited, Rupert’s investment holding.
Nigerian billionaire Femi Otedola’s Geregu Power posts $47 million in profit in 2021
Geregu Power is 80-percent owned by Otedola.
Kenyan tycoon Suresh Bhagwanji Shah loses over $6.2 million since start of 2022
Since its founding by Shah in 1974, I&M Group has expanded its operations to other East African countries.
Egyptian mogul Safwan Thabet loses $39 million in 139 days from stake in Juhayna
Thabet owns 50.07 percent of the Egyptian-based consumer goods producer.
Egyptian tycoon Hend El-Sherbini’s IDH launches sixth Al-Borg Scan branch in Cairo
El-Sherbini controls a 26.1-percent stake in the group.
South African-born billionaire Patrick Soon-Shiong’s year-to-date wealth loss exceeds $1.1 billion
Soon-Shiong remains one of the richest businessmen in the world.
South African mogul Neal Froneman-led Sibanye-Stillwater eyes Zambia’s Mopani Copper Mines
Froneman’s 0.074-percent stake in Sibanye-Stillwater is now worth more than $5.2 million.
Senegalese-born TikToker Khaby Lame becomes Qatar Nat’l Bank’s World Cup ambassador
Lame has over 150 million TikTok followers.
Egyptian businessman Medhat Khalil’s Raya Contact Center looks set to launch Dubai unit
Raya Contact Center is one of the many subsidiaries of Raya Holding.
Tanzanian billionaire Mohammed Dewji says food insecurity is Africa’s biggest threat
The billionaire believes that drastic measures are required to ensure food security on the continent.
Within 24 hours of NGX listing, Nigerian billionaire Femi Otedola’s Geregu Power gains $120 million
Geregu Power is majority owned by Otedola.
South African billionaire Nicky Oppenheimer’s net worth slumps by $100 million in 2022
Despite the slump in his net worth, Oppenheimer still ranks as the second-richest man in South Africa.