Nigerian billionaire Abdul Samad Rabiu unveils $3-million development initiative for Niger
Rabiu, Africa’s fifth-richest man, is presently worth $6.3 billion, according to Forbes.
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Moroccan tycoon Abdellatif El-Guerraoui’s Auto Hall signs deal with Stellantis to distribute new auto brands
Auto Hall distributes more than 16 brands in the automotive, mining, industrial, public works, agriculture, and oil sectors.
South African mogul Zak Calisto loses $360 million from Karooooo stake in 2022
Despite the recent drop in his wealth, Calisto remains one of South Africa’s wealthiest businessmen.
Africa’s richest man Aliko Dangote loses $1.1 billion in two months as Dangote Cement shares fall
Dangote’s net worth is still up by $832 million this year.
Cosmetics billionaire Robyn ‘Rihanna’ Fenty looks to launch haircare line under billion-dollar brand
Recently, Rihanna as seen her net worth fall by $300 million.
Nigerian billionaire Abdul Samad Rabiu receives $208 million in dividends from cement business
Rabiu is also on track to earn another $151.66 million in dividends from his newly consolidated food business, BUA Foods.
Cameroonian mogul Samuel Foyou’s group plans to review share capital of subsidiary, Plasticam
Foyou, one of Cameroon’s wealthiest men, derives his fortune from the hotel, food, and printing industries.
Kenyan mogul James Mwangi’s Equity signs MoU with EAC to fast-track growth
Under Mwangi’s leadership, Equity Group has grown into the largest financial services group in East and Central Africa.
Sudanese fintech founder Ahmed Ismail’s Bloom secures $6.5 million in seed funding
Visa joined the round and, in doing so, hopes to increase its card adoption in Sudan and East Africa.
African-American billionaire Tyler Perry on prowl for lucrative new offer as BET mega-deal nears end
The writer, producer, director, and actor is best known for his “Madea” film franchise.
Kenyan government suspends Tanzanian billionaire Rostam Aziz’s plans to build cooking gas plant
The freezing of his statutory licenses could lead to a trade spat between Kenya and Tanzania.
Egyptian businessman Medhat Khalil loses $42 million in 15 weeks from stake in Raya Holding
Raya Holding is an Egyptian investment conglomerate formed in 1999.
Bluebell Capital wants South African billionaire Johann Rupert’s Richemont to focus on jewelry, watches
This statement comes nearly a week after Richemont reported a double-digit increase in sales in Q1 2023.
Kenyan banking magnate Jimnah Mbaru loses $2.4 million from investment in Britam
Mbaru still remains one of the Nairobi Securities Exchange’s wealthiest investors.
Nigerian billionaire Aliko Dangote’s Dangote Industries completes $452-million bond issuance
The proceeds from the landmark transaction will be used to part-finance the Dangote Oil Refinery Project.
Billionaire Mohamed Mansour’s Infinity to acquire Lekela Power in Africa’s biggest renewable energy deal
Infinity is Egypt’s only dedicated renewable energy solutions provider.