Nigerian billionaire Femi Otedola’s Geregu Power sheds $62 million in 24 hours
Geregu Power is majority owned by Nigerian billionaire Femi Otedola.
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Egyptian businesswoman Hend El-Sherbini’s IDH to roll out three new scan centers in 2023
El-Sherbini explained that the ramp-up strategy will create added value for IDH.
Moroccan tycoon Hassane Amor has now lost $25.7 million from stake in Microdata
As the company’s founder and chairman, he owns 56.17 percent of the Casablanca-based IT services business.
Gaming tycoon Kunle Soname’s airline ValueJet begins operations in Nigeria
Soname stated: “ValueJet is hardly a stranger in the industry.”
Africa’s richest man Aliko Dangote’s group says $19-billion oil refinery is 97-percent complete
The refinery project has been long hampered by a number of factors.
South African tech tycoon Jens Montanana’s Datatec to pay shareholders $149.5 million in special dividend
Montanana is Datatec’s founder and CEO.
South Africa’s richest billionaires Rupert, Oppenheimer $3.58-billion poorer than year ago
Rupert and Oppenheimer remain the two wealthiest billionaires in South Africa.
Malagasy businessman Hassanein Hiridjee’s AXIAN Group launches renewable energy subsidiary, NEA
AXIAN Group is a Malagasy-based pan-African conglomerate.
Led by Kenya’s richest families, NCBA Group plans to spin out M-Shwari, other fintech businesses as separate unit
NCBA Group is partly owned by the super-rich Kenyatta, Merali, and Ndegwa families.
Egyptian businessman Abdallah Sallam’s stake in MNHD stake slumps by nearly $4.5 million in 45 days
Sallam owns five percent of MNHD.
Nigerian billionaires Abdul Samad Rabiu, Tony Elumelu, others, receive national honors
The men have played seminal roles in the development of Nigeria’s economy.
Ugandan tycoon Sudhir Ruparelia-linked Crane Bank loses $212.5 million against dfcu Bank
Ruparelia had a $1.1-billion net worth in 2012.
Tunisian businessman Habib Essayeh loses $4.4 million in 47 days from stake in Euro-Cycles
Essayeh owns a sizeable 33.6-percent stake in the Tunis-based firm.
African Bank secures approval to acquire Johann Rupert-linked Grindrod in $97-million deal
Grindrod Limited is owned in part by Remgro Limited, Rupert’s investment holding.
Nigerian billionaire Mike Adenuga’s Globacom launches payment service bank
Globacom is Nigeria’s second largest mobile telecom company.
Serena Williams’ VC firm backs Nigerian entrepreneur Preston Ideh’s Stears
Ideh said the funds will be used to broaden Stears’ product breadth.