South African billionaire Michiel Le Roux gains $157 million as Capitec shares rebound from record lows
Le Roux owns 11.36 percent of the Stellenbosh-based banking group.
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Nigerian billionaire Femi Otedola’s Geregu Power posts $47 million in profit in 2021
Geregu Power is 80-percent owned by Otedola.
Kenyan tycoon Suresh Bhagwanji Shah loses over $6.2 million since start of 2022
Since its founding by Shah in 1974, I&M Group has expanded its operations to other East African countries.
Botswana tycoon Gulaam Abdoola’s Turnstar Holdings expects pre-tax earnings to decline by 11.5 percent
Abdoola is the company’s largest individual shareholder.
Zimbabwean billionaire Strive Masiyiwa’s net worth slumps by $3.1 billion in 162 days
Masiyiwa is Zimbabwe’s wealthiest man.
Nigerian gaming tycoon Kunle Soname’s ValueJet to commence regional flights this week
Soname’s move into the aviation sector is aimed at helping to lower the cost of airline tickets for Nigerians.
Egyptian mogul Safwan Thabet loses $39 million in 139 days from stake in Juhayna
Thabet owns 50.07 percent of the Egyptian-based consumer goods producer.
Egyptian tycoon Hend El-Sherbini’s IDH launches sixth Al-Borg Scan branch in Cairo
El-Sherbini controls a 26.1-percent stake in the group.
Nigerian businessman Tony Elumelu pledges support to female farmers
Elumelu has played a crucial role in supporting young businesspeople in Africa.
Malawian multimillionaire Hitesh Anadkat gains $17.2 million from stake in FMB Capital
Anadkat owns 35.51 percent of the Port Louis-based firm.
South African-born billionaire Patrick Soon-Shiong’s year-to-date wealth loss exceeds $1.1 billion
Soon-Shiong remains one of the richest businessmen in the world.
Cement plant owned by Aliko Dangote’s Dangote Cement under ‘lock and key’ as state gov’t plans recovery
The Obajana Cement Factory opened in 2008.
Egyptian billionaire Naguib Sawiris’ Orascom plans to establish four new hotels in Egypt
Orascom Investment Holding reported a consolidated profit of $4.83 million in the first half of 2022.
South African mogul Neal Froneman-led Sibanye-Stillwater eyes Zambia’s Mopani Copper Mines
Froneman’s 0.074-percent stake in Sibanye-Stillwater is now worth more than $5.2 million.
Senegalese-born TikToker Khaby Lame becomes Qatar Nat’l Bank’s World Cup ambassador
Lame has over 150 million TikTok followers.
Egyptian businessman Medhat Khalil’s Raya Contact Center looks set to launch Dubai unit
Raya Contact Center is one of the many subsidiaries of Raya Holding.