Kenyan banking exec Andrew Ndegwa gains $1.5 million in 43 days from investment in NCBA Group
Ndegwa, an executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group.
Led by South African Mouton family, PSG embarks on strategic restructuring
The South African Mouton family owns 24.5 percent of the company.
Malagasy tycoon Hassanein Hiridjee says Africa needs to invest in clean energy transition
Hiridjee is one of Madagascar’s wealthiest and most powerful business leaders.
Ardova dismisses winding-up order, as Femi Otedola’s Zenon serves majority shareholder petition over $6-million debt
The once promising relationship between Otedola’s Zenon and Abdulwasiu Sowami’s Prudent Energy has taken a new turn.
South African billionaire Patrice Motsepe’s net worth slumps by $400 million as rand tumbles
Despite his declining net worth, Motsepe remains one of South Africa’s richest men.
Billionaire Robert Smith’s Vista to acquire Avalara business software for $8.4 billion
Smith directs Vista’s investment strategy.
Tycoon Anas Sefrioui loses $111 million from stake in Moroccan property developer
The market value of Sefrioui’s 64.1-percent stake has now dropped to $189.43.
Kenyan businessman James Mwangi gains $9.9 million in less than two months as Equity shares rebound
Mwangi’s 3.38-percent stake has now risen in value to $51.71 million.
Indian-Kenyan entrepreneur Kamal Budhabatti’s Little plans to raise $17 million in stake sale
The funding will also aid in the development of its infrastructure and talent pool through retention and strategic recruitment while growing its presence in the region.
Madagascar’s richest man Ylias Akbaraly’s Thomson Broadcast finalizes GatesAir acquisition
Thomson Broadcast is a wholly owned subsidiary of Group Sipromad.
South African exec Arrie Rautenbach-led Absa Group expects earnings to rise by 27 percent in H1 2022
Rautenbach owns a 0.023-percent stake in the banking group, worth $1.94 million.
Kenyatta family-linked NCBA unveils $16.8-million EV financing as demand for battery-powered cars soars
NCBA Group is a Nairobi-based financial services conglomerate with subsidiaries in Tanzania, Rwanda, Uganda, and Cote d’Ivoire.
Ethiopia’s wealthiest man Mohammed Al-Amoudi gains $230 million in July; net worth nears $6 billion
The increase in his net worth follows a $1-billion wealth loss in the first half of 2022.
Nigerian energy magnates Bryant Orjiako, Austin Avuru to pocket $2.15 million in Seplat dividends
Orjiako and Avuru own a significant 6.43-percent and 8.2-percent stake in the leading energy firm, respectively.
Egyptian businessman Hassan Allam’s company joins subcontractors in El-Dabaa nuclear plant construction
Hassan Allam Holding is one of the largest privately held enterprises in Egypt, the Middle East, and North Africa.
Nassef Sawiris gains $7 million in July, recoups only fraction of June $600-million loss
Sawiris sits on the boards of Adidas and OCI N.V.