U.S.-Nigerian telecom tycoon Sam Darwish’s IHS Towers suffers $30 million in losses during Q3 2021
IHS Towers is the largest telecom infrastructure group in Africa, Europe, Latin America and the Middle East by tower count.
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South African billionaire Nicky Oppenheimer gains $2.02 million from stake in IDH
One of the wealthiest men in Africa and the second richest man in South Africa, he holds a significant stake in IDH.
Moroccan magnate Anas Sefrioui loses $75.72 million as ADH shares slump
ADH is Morocco’s largest property developer and operator with real estate programs across the North African country.
Prosus, led by South African billionaire Koos Bekker, reports $15.8 billion in profit in H1 2022
Prosus is the global Internet assets division of the South African multinational group, Naspers.
Greek tycoon John Coumantaros’ Flour Mills of Nigeria eyes $194.6-million acquisition deal
Flour Mills of Nigeria and Honeywell Flour Mills will combine to create an industrial behemoth.
Save the Children UK appoints Nigerian billionaire Femi Otedola as vice president
His daughter, Florence Ifeoluwa Otedola, popularly known as “DJ Cuppy,” is a Save the Children ambassador.
Nigerian billionaire Abdul Samad Rabiu donates $9.72 million hospital to Nigerian Police
Rabiu said the hospital was conceived to provide world-class healthcare services to security operatives.
Egyptian billionaire Yasseen Mansour’s Palm Hills plans to invest $242 million in 2022
The projected investment for the coming financial year represents a 52-percent increase from last year.
Controlled by Alaouite Royal Family of Morocco, Attijariwafa Bank reports surge in profits in 9M 2021
Attijariwafa Bank is a Moroccan multinational commercial bank and financial services conglomerate based in Rabat, Morocco.
Egyptian tech entrepreneur Ashraf Sabry loses over $10 million in 33 days
With a market capitalization of $1.38 billion, Fawry is one of Africa’s few tech companies worth over $1 billion.
Nigerian billionaire Femi Otedola confirmed officially as largest shareholder in First Bank
Otedola is resting pretty. He could now demand seats on the board, or even his appointment as chairman.
Johann Rupert’s Richemont in talks with Prada and Farfetch to launch online retail platform
Richemont recently disclosed that it is in talks to sell off a majority stake in the loss-making online retailer YNAP.
Zimbabwean billionaire Strive Masiyiwa’s Africa Data Centers secures $254.6 million to expand presence in South Africa
Africa Data Centers operates as an affiliate of Cassava Technologies, a fiber and telecom solutions group.
Zimbabwean businessman John Moxon’s Meikles delays unbundling of tea business
Tanganda Tea Company is Zimbabwe’s largest distributor of bulk tea and packaged tea.
Moroccan businessman Mohammed Abdeljalil-led Marsa Maroc posts $287.7-million revenue in 9M 2021
The group’s quarterly filings revealed that it delivered a resilient financial performance despite the pandemic.
Malagasy tycoon Hassanein Hiridjee’s Axian Group commits to $6-billion Actis energy fund
The investment highlights the group’s commitment to projects bolstering the global transition to renewable energy.