Portuguese gov’t accuses Angolan businessman Alvaro Sobrinho of embezzling hundreds of millions of dollars
The businessman was charged with aggravated fraud and the lodging of about $6.12 billion.
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Wealthy Kenyatta family loses more than $4.5 million in 100 days as NCBA shares slump
The stake is linked to Ngina Kenyatta, Muhoho Kenyatta, and Uhuru Kenyatta, a leading politician who has served as Kenya’s president since 2013.
Angolan billionaire Isabel dos Santos demands pardon after death of father
The dos Santos family also demanded an apology for the treatment of the former leader.
Nigerian billionaire Tony Elumelu says UBA’s global expansion incomplete without Gulf
UBA’s entry into the Middle East comes just six months after Elumelu publicly disclosed his interest in investing in the Caribbean.
Algerian tycoon Issad Rebrab’s Cevital partners with WEG to form electrical machinery company
The JV will produce motors for washing machines manufactured by Cevital and other partners.
South African mogul Johann Rupert’s net worth soars by $240 million in four days
The increase in Rupert’s net worth follows a surge in Richemont shares from $10 on July 15 to $11 today.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Group receives $15-million guarantee from FMO
NASIRA is a financial program that assists young, female, migrant, and COVID-19-affected entrepreneurs.
Namibian tycoon Quinton van Rooyen loses $47 million as Trustco shares slump to all-time low
Van Rooyen owns 63.94 percent of the leading Namibian company.
Zimbabwe’s richest man Strive Masiyiwa plans to raise $500 million to expand digital infrastructure business
C5 Capital, a specialist venture capital firm, will provide the financing.
Nigerian banking mogul Herbert Wigwe’s Access Holdings raises $1.7 million to support education in Nigeria
Wigwe said the funds will serve as a foundation for attaining a better future for the nation.
Led by Nigerian banker Peter Ashade, United Capital earns more than $10 million in profit in H1 2022
Profit for the six-month period ending June 30 increased by more than 41 percent, from $7.38 million in the first half of 2021 to $10.42 million.
Michael Joseph-led Kenya Airways suspends London route ticket sales amid UK travel chaos
The recent development has the potential to significantly impact KQ’s third-quarter financial performance.
Zimbabwean billionaire Strive Masiyiwa loses $2.9 billion, reducing net worth to $1.5 billion
Zimbabwe’s richest man and one of Africa’s wealthiest men, Masiyiwa has seen his net worth fall to $1.5 billion.
Wealthy Mauritian Lagesse family loses $21 million in 74 days from IBL Group investment
However, the Lagesse family remains one of Mauritius’ wealthiest, most powerful families.
Tunisian businessman Mehdi Tamarziste gains $1.6 million in four weeks from stake in UBCI
The market value of his stake in the group places him among the richest investors on the Tunis Stock Exchange.
Is the African Union passport a potential game changer?
The African Union passport is a common passport document set to replace existing nationally issued AU member-state passports.