Egypt’s richest man Nassef Sawiris loses $130 million in August as net worth slides below $6.8 billion
Sawiris derives his wealth from a 38.8-percent stake in Netherlands-based OCI N.V. and his six-percent shareholding in Adidas.
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African-American billionaire Shawn ‘Jay-Z’ Carter’s has now lost $100 million since start of 2022
Jay-Z is the world’s 2,076th richest man.
Kenyan Ndegwa family acquires additional $2.46-million stake in Nairobi-based lender, NCBA
The Ndegwa family’s 13.13-percent stake in NCBA Group is worth $54 million.
Nigerian billionaire Abdul Samad Rabiu suffers $1.2-billion loss in August from stake in BUA Cement
BUA Cement is Nigeria’s second-largest cement producer with a combined installed capacity of 8 million tonnes per annum.
Somali tycoon Abdirashid Duale’s Dahabshiil says diaspora remittances to boost regional economy
Diaspora remittances are a lifeline for many people in the Horn of Africa
South African billionaire Patrice Motsepe’s ARM reports lower earnings and revenue as iron ore prices decrease
ARM is a major South African mining and minerals company.
South African pharma billionaire Stephen Saad’s Aspen signs vaccines deal with India’s Serum Institute
Saad owns a 12.5-percent stake in Aspen worth $566 million.
Kenyan businessman John Kimani acquires additional $1.7-million stake in Centum
Aside from his ownership interest in Centum, Kimani controls 32.3 percent of Kakuzi and 2.99 percent of Nation Media Group.
Zimbabwean businessman Zinona Koudounaris loses over $53 million in 18 weeks from stake in Axia Corp
Koudounaris still ranks as one of the richest investors on the Zimbabwe Stock Exchange.
Billionaire Aliko Dangote’s oil refinery to commence operation by mid-2023
The project is back on track after being hampered by several issues.
Led by Kenya’s richest families, NCBA Group plans to launch seven new branches before year’s end
This year alone, the group has launched four branches in Kenya.
Kenyan mogul Manu Chandaria regains control of Kaluworks as banks write off $55-million debt
Kaluworks is a manufacturing firm and a subsidiary of Chandaria’s main company, Comcraft Group.
South African billionaire Nicky Oppenheimer gains $130 million in August
Oppenheimer’s net worth rose from $8.3 billion to $8.43 billion.
Gbenga Agboola-led Flutterwave advances plans for NASDAQ IPO despite allegations
Flutterwave is a San Francisco- and Lagos-based fintech group.
Africa’s richest man Aliko Dangote to cut Nigerian sugar imports by 40 percent
Dangote founded Dangote Sugar Refinery in the 1970s.
Cameroonian banker Alain Nkontchou loses over $1 million from investment in Ecobank
The company’s market capitalization is presently $471 million.