Mohammed Akoojee-led Imperial Logistics acquires controlling stake in Africa FMCG Distribution Limited
The transaction is Imperial’s first since being acquired by DP World on March 21.
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Ugandan pharma tycoon Emmanuel Katongole loses over $1 million in one year
Katongole owns 2.79 percent of the company, which translates to 101,933,042 ordinary shares.
Led by Kenyan businesswoman Nasim Devji, Diamond Trust Bank intends to open 17 new branches
DTB has grown into a financial services industry leader under Devji.
Egyptian billionaire Naguib Sawiris considers sale of Italy’s largest Internet services group
Sources say the Sawiris-led group is considering selling a minority stake or even a controlling stake.
Samsung welcomes South African billionaire Michiel Le Roux’s Capitec on payment platform
The long-term success of Samsung Pay is driven by strong partnerships.
South African-born Kenyan businessman Michael Joseph prolongs term as KQ chairman
Joseph was appointed chairman of KQ in October 2016.
Burundi asks Nigerian billionaire Aliko Dangote to establish cement plant
Dangote owns an 86-percent stake in Dangote Cement Plc, Africa’s largest cement producer.
Egyptian billionaire Yasseen Mansour loses over $6.7 million from stake in Palm Hills
Despite the year-to-date loss, Mansour remains one of Africa’s wealthiest men.
Nigerian logistics tycoon Taiwo Afolabi’s Sifax Group plans strategic move into energy sector
Founded in 1988, Sifax Group is one of Nigeria’s leading conglomerates.
Billionaire Strive Masiyiwa denies interest in South Africa’s SuperSport United FC
He stated in a Facebook post that the reports are a fabrication.
Tanzanian tycoon Said Salim Bakhresa’s Bakhresa Group kicks off sugar production
Bakhresa is one of Africa’s wealthiest men, with an estimated fortune of more than $600 million in 2015.
Mediclinic gains over $690 million four weeks after Johann Rupert’s Remgro launches takeover bid
Similarly, Remgro’s 44.6-percent stake in Mediclinc has increased in value by $281.5 million.
Tanzania’s richest man Mohammed Dewji plans $4-billion grain production investment
Dewji, 47, is the owner of MeTL Group, a Tanzania-based conglomerate founded by his father in the 1970s.
Kenyan banking magnate Gideon Muriuki loses $1.6 million in 16 weeks
Muriuki owns a two-percent stake in the leading financial services group, totaling 102,528,400 shares.
Angola’s former President Jose Eduardo dos Santos dies at 79
President Joao Lourenco has declared five days of national mourning.
The 10 richest billionaires in Africa as of June 2022
From January to June, the combined net worth of Africa’s 10 richest billionaires fell by $1.22 billion.