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.
Nigerian investment banker Peter Ashade’s United Capital gains $29 million in 18 days
Ashade has been at the helm of United Capital since 2018.
Moroccan tycoon Othman Benjelloun on verge of losing ‘billionaire’ status
BMCE Group is Morocco’s largest financial services provider.
Zimbabwean tycoon John Moxon gains $2 million from stake in Harare-based firm
Moxon owns 10.8 percent of Meikles Limited.