Kenyan mogul John Kimani-linked NMG announces layoffs as restructuring commences
Kimani owns a significant 2.35-percent stake in NMG.
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Kenyan billionaire families Moi, Rai secure court pardon in $8.2-million land battle
The Moi family is said to be Kenya’s second-largest landowner after the Kenyattas.
Egyptian billionaire Nassef Sawiris-linked Fertiglobe posts $1.07 billion in profit in 9M 2022
Fertiglobe is a 58-42 percent joint venture between OCI N.V. and ADNOC.
Abdul Samad Rabiu to construct $2.3-million ICT hub at Nigerian university
ASR Africa is a nonprofit foundation founded by Rabiu in April 2021.
Egyptian billionaire Naguib Sawiris’ Ora Developers inks $103.1-million contract with Orascom
Ora Developers is a real estate operator and joint stock company.
Nigerian tycoon Tony Elumelu’s stake in UBA sheds $6.8 million, as shares plunge on NGX
Elumelu is on track to pocket another sizable dividend in 2023.
Ye’s net worth slumps by $1.6 billion to $400 million in days
Ye’s $400-million fortune is made up of real estate, cash, a music catalog, and a five-percent stake in Skims.
South African mogul Neal Froneman’s Sibanye-Stillwater may cut 2,000 jobs
Sibanye-Stillwater is a multinational precious metal mining group.
OPEC says Aliko Dangote’s petrochemical refinery to account for over half of Africa’s refining additions
THE Dangote Refinery is a $19-billion integrated petrochemical refinery complex.
Nigerian billionaire Femi Otedola celebrates 60th birthday on $750,000-a-week yacht owned by Aristotle Onassis
Otedola is one of Nigeria’s richest men.
South African billionaire Nicky Oppenheimer gains $100 million in October
Oppenheimer’s $7.93-billion net worth is derived from a mix of private equity investments.
Nigerian billionaire Aliko Dangote’s sugar company posts record earnings, with profits exceeding $56 million
Dangote owns 72.3 percent of Dangote Sugar Refinery.
Angolan gov’t takes ownership of Unitel S.A. from billionaire businesswoman Isabel dos Santos
Dos Santos was once considered Africa’s wealthiest woman.
U.S. billionaire Jeff Bezos’ cloud computing business AWS opens first office in Nigeria
AWS is a subsidiary of Amazon.com.
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.
Somali tycoon Abdirashid Duale’s Dahabshiil donates $500,000 to families affected by Mogadishu bombing
Duale is known for his charitable donations and habit of assisting Somalis in times of need.