Led by wealthy Ivorian Billon family, Palmci’s market cap slumps by $58.9 million in 138 days
Jean-Louis Billon has been instrumental in the growth of Palmci.
Africa’s second-richest man Johann Rupert loses $690 million in seven days
Despite his year-to-date wealth loss, Rupert remains not only one of Africa’s richest men, but also one of the world’s richest billionaires.
Senegalese-born TikToker Khaby Lame could earn as much as $10 million this year
Lame has become a global influencer in recent years.
Kanye West’s Yeezy brand terminates deal with U.S. retailer Gap
Gap earlier made headlines for selling Yeezy products in its Times Square store.
Ghanaian founder Gregory Rockson’s mPharma acquires majority stake in HealthPlus
mPharma manages pharmaceutical inventories for African mom-and-pop pharmacies.
Ethiopia’s richest man Mohammed Al Amoudi has now lost $1.45 billion so far in 2022
Al-Amoudi still remains Ethiopia’s richest man and one of Africa’s wealthiest businessmen.
Herbert Wigwe’s Access Holdings announces first-ever interim dividend as profits surge above $205 million
Earnings growth at the bank was hampered by increased fee and commission expenses.
Multimillionaire Rajabali brothers gain $3.4 million from stake in Tanzania’s largest bank
The Rajabali brothers own a 2.6-percent stake in CRDB Bank Plc.
Greek businessman John Coumantaros’ Flour Mills to raise $467 million in new capital
Coumantaros controls a majority 63.34-percent stake in the company.
Moroccan tycoon Alami Lazraq gains $15 million from stake in Casablanca-based property developer
The news solidifies his position as one of the richest investors on the Casablanca bourse.
Nigerian billionaire Tony Elumelu to receive $1.11 million in interim dividends from UBA
Elumelu owns 6.96 percent of UBA, or 2,380,941,756 ordinary shares.
South African retail mogul Mark Lamberti’s Massmart starts shutting down loss-making Game stores
Massmart is the continent’s second-largest distributor of consumer products.
Led by Kenyan banker James Mwangi, Equity Group set to acquire Spire Bank
The acquisition could present additional challenges and opportunities to Equity Group.
Kenyan banking exec Jeremy Awori to take over from Ade Ayeyemi as CEO of Ecobank
Absa Bank Kenya reported triple-digit earnings growth in the 2021 fiscal year.
African-American billionaire Oprah Winfrey earns $6.6 million in profit from sale of CA property
Her primary residence is still her 66-acre “Promised Land” estate in Montecito, California.
Egyptian billionaire Nassef Sawiris’ OCI N.V. to build ammonia plant in Texas
OCI N.V. stated that the project is well under way.