U.S. billionaire Jeff Bezos’ cloud computing business AWS opens first office in Nigeria
AWS is a subsidiary of Amazon.com.
Latest
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.
Nigerian billionaire Abdul Samad Rabiu’s food business posts $156.5 million in profit in 9M 2022
Rabiu and his son own 99.8 percent of BUA Foods.
South African billionaire Johann Rupert gains $220 million in October, as Richemont shares rebound
Rupert is South Africa’s richest businessman.
Kenyan billionaire James Mwangi’s stake in East Africa’s largest bank now worth $49 million
Kenyan billionaire Mwangi owns a sizable 3.38-percent stake in Equity Group.
Egyptian mogul Hend El-Sherbini’s IDH to launch diagnostic venture in Saudi Arabia
IDH is a major consumer healthcare group in the Middle East and Africa.
Nigerian tycoon Samuel Bolarinde’s Vitafoam posts $11.2 million in profit in 2022
Bolarinde owns a 13.03-percent stake in Vitafoam.
Moroccan multimillionaire Anas Sefrioui has lost nearly $135 million in 10 months from stake in ADH
Sefrioui owns a 64.1-percent stake in Douja Promotion Groupe Addoha.
Money Fellows, led by Egyptian founder Ahmed Wadi, raises $31 million for expansion
Wadi worked on a number of projects for Microsoft and Daimler before founding Money Fellows in 2016.
South African tycoon Stephen Brookes’ Balwin Properties posts $9 million in mid-year profit
Brookes owns a 36.08-percent stake in Balwin Properties.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $168.4 million in profit in 9M 2022
Rabiu derives the majority of his fortune from his 92-percent stake in BUA Cement.
South African tech tycoon Zak Calisto gains nearly $150 million as Karooooo surges on Nasdaq
Calisto is one of Africa’s richest tech entrepreneurs.
Swazi billionaire Natie Kirsh’s net worth soars by $300 million in October
Kirsh is one of Africa’s wealthiest businessmen.
Nigerian billionaire Mike Adenuga receives $3.1 million in dividends from oil company
Adenuga owns 74.4 percent of Conoil.
Exit strategies for family businesses
Exit strategies include acquisition, merger, IPO, cash cow, selling to a friend, or shutting down operations.