Cosmetics billionaire Robyn ‘Rihanna’ Fenty looks to launch haircare line under billion-dollar brand
Recently, Rihanna as seen her net worth fall by $300 million.
Portuguese gov’t accuses Angolan businessman Alvaro Sobrinho of embezzling hundreds of millions of dollars
The businessman was charged with aggravated fraud and the lodging of about $6.12 billion.
Algerian tycoon Issad Rebrab’s Cevital partners with WEG to form electrical machinery company
The JV will produce motors for washing machines manufactured by Cevital and other partners.
Michael Joseph-led Kenya Airways suspends London route ticket sales amid UK travel chaos
The recent development has the potential to significantly impact KQ’s third-quarter financial performance.
Moroccan PM Aziz Akhannouch’s net worth slumps by $300 million
Akhannouch derives the majority of his fortune from Akwa Group.
Egyptian tech tycoon Mostafa Kandil’s Swvl partners with German gov’t to power electric shuttles
Swvl is a global provider of transformative tech-enabled mass transit solutions.
Swvl, tech startup led by Egyptian entrepreneur Mostafa Kandil, moves to acquire Mexico’s Urbvan
Swvl is a global provider of transformative tech-enabled mass transit solutions.
French businessman Jeremy Hodara’s Jumia partners with Realme to drive African smartphone adoption
Jumia is Africa’s leading e-commerce platform.
Mediclinic gains over $690 million four weeks after Johann Rupert’s Remgro launches takeover bid
Similarly, Remgro’s 44.6-percent stake in Mediclinc has increased in value by $281.5 million.
Burkinabe tycoon Mahamadou Bonkoungou’s IB Bank plans to crash interest rates in Togo
Bonkoungou acquired IB Bank in Togo last December.
Malawian banking mogul Hitesh Anadkat gains $40 million from stake in FMB Capital
Anadkat owns 35.51 percent of the Port Louis-based firm.
Egypt’s richest man Nassef Sawiris loses $600 million in June after gaining $1.25 billion in May
His fortune is derived from a 38.8-percent stake in Netherlands-based OCI N.V. and a six-percent stake in German sportswear behemoth Adidas.
Egyptian entrepreneur Mounir Nakhla’s MNT-Halan acquires e-commerce platform, Talabeyah
The acquisition aligns with the fintech firm’s strategic expansion plans as it moves to deliver value.
Nigerian oil tycoon Adewale Tinubu’s Oando suffers $320 million in losses in 2020
Tinubu stated that 2020 was one of the most challenging years in the firm’s history.
10 charitable foundations founded by African billionaires you should know
They’re putting their money when their mouth is.
Tanzanian gold magnate Ketan Patel suffers $1.8-million loss as Shanta Gold shares retreat
Patel owns 44,274,017 ordinary shares, or 4.22 percent of the company.