South African billionaire Patrice Motsepe’s ARM acquires Bokoni mine for $334 million
ARM will invest $334 million per year in the development of the mine to get it up and running.
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Nigerian billionaire Abdulsamad Rabiu’s BUA Cement commissions 3 million metric tonnes
BUA Cement’s market capitalization is $5.7 billion, making it the fourth most capitalized company on the Nigerian Exchange.
Controlled by Royal Family of Morocco, Managem partners with Glencore to produce cobalt
Managem is an industrial mining group with more than 90 years of experience operating a diversified metals portfolio.
Pieter Engelbrecht-led Shoprite posts $5.59 billion in revenue in H1 2022
The retailer’s market capitalization on the Johannesburg Stock Exchange is $7.8 billion.
Saltzman family of South Africa sells warehouse facilities to Dis-Chem for $14.2 million
Dis-Chem Pharmacies is a leading pharmacy retail and healthcare group based in South Africa.
Zimbabwe’s richest man Strive Masiyiwa joins Gates Foundation as board member
The Gates Foundation has given out more than $60 billion in grants since its inception 21 years ago.
Moroccan tycoon Moulay Hafid Elalamy to acquire substantial stake in Othman Benjelloun’s BMCE Group
Elalamy is the founder and owner of Saham Group, one of Morocco’s leading insurance service providers.
Aliko Dangote’s Dangote Cement buys back shares worth $84.5 million
Dangote Cement is Africa’s largest cement maker, with a production capacity of 48.6 million tonnes per year across 10 countries.
Christo Wiese-linked retailer Steinhoff receives approval for $1.6-billion global settlement for investors
The retail behemoth was founded in 1964 by German billionaire Bruno Ewald Steinhoff.
Kenyan tycoon Jaswant Rai challenges Mumias Sugar’s leasing contract to younger brother’s firm
The legal action is expected to exacerbate the Rai brothers’ feud over their late father’s inheritance.
Egyptian billionaire Yasseen Mansour loses $2.56 million as Palm Hills shares slump by double digits
Palm Hills is a leading property developer with active investments and operations in Egypt.
Mansoor Hamayun’s Bboxx secures $15-million loan facility to finance solar systems for Kenyans
Bboxx is a next-generation utility company.
Sam Darwish’s IHS Towers to acquire tower assets in Brazil in $315-million deal
IHS Towers is a leading telecom infrastructure firm founded by U.S. tycoon Sam Darwish.
Nassef Sawiris’ Orascom Construction completes acquisition of equipment distribution business
Orascom Construction has completed the acquisition of a leading equipment importation, distribution and services business in Egypt.
Mohammed Akoojee’s Imperial Logistics partners with UbiPharm to create Africa’s largest healthcare distribution network
Akoojee owns 0.19 percent of Imperial Logistics, a leading logistics company.
The 10 richest people in Africa in 2022
Africa’s billionaires recorded an impressive surge in their net worth in 2021 despite the global pandemic.