Moroccan business tycoon Adil Douiri loses $2.68 million in four months as Mutandis shares slump
Douiri is a venture capitalist and politician, who founded Mutandis as a packaged foods retailer in 2008.
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Pieter Engelbrecht-led Shoprite Holdings reports 9.3-percent rise in sales in Q1 2022
Earlier, the group’s core business, Supermarkets RSA, reported an 11.6-percent increase in sales in Q1 2021.
Nigerian energy magnate Austin Avuru to pocket $945,463 in Seplat interim dividends for Q3 2021
Seplat Energy is an independent oil and gas group, with a strategic focus on Nigeria’s Niger Delta region.
Kenyan businessman Benson Wairegi loses $740,000 as shares in Britam Holdings decline by nearly 10 percent
Wairegi stepped down from Britam’s board on May 28 after serving in the company for more than four decades.
Amid operating difficulties, Shameel Joosub-led Vodacom Group reports decline in profit in H1 2021
Vodacom Group is a South African telecom company, providing voice, messaging, data and converged services.
Royal Family of Morocco loses $272.05 million in three weeks as shares in Morocco’s largest bank decline
Attijariwafa Bank is a Moroccan multinational commercial bank based in Rabat, Morocco.
Heineken moves to acquire Johann Rupert-linked spirit maker, Distell Group, in deal worth $2.52 billion
In addition to acquiring Distell, Heineken will acquire Namibia Breweries and Ohlthaver & List.
Africa’s wealthiest man Aliko Dangote loses younger brother, Sani Dangote
The death of the Nigerian industrialist has sent shock waves across Africa’s richest economy.
Sanctioned tycoon Kudakwashe Tagwirei joins deal to create financial behemoth in Zimbabwe
The post-merger entity to be created through the acquisition will rival Old Mutual Zimbabwe.
Adegoke Olubusi’s Helium Health acquires Qatar-based doctor booking platform, Meddy Inc.
Founded by Olubuisi and partners in 2016, Helium Health is a leading healthcare technology services provider in Africa.
South African billionaire Johann Rupert’s Richemont advances discussions to offload stake in loss-making YNAP
The development puts to bed rumors of a potential $100-million capital raise to bolster the YNAP’s operations.
Nigerian banking tycoon Tony Elumelu supports 4,949 Africans with $24.75 million in 2021
The entrepreneurs were selected from a pool of more than 400,000 applicants in 54 African countries.
Richest Black man alive Aliko Dangote now worth over $20 billion, net worth up by +$2.4 billion in 2021
So far this year, his personal net worth is up 13.6 percent, an average gain of $7.66 million per day.
Tunisian tycoon Moncef Sellami gains $8.6 million in 2021 as One Tech shares surge by 15 percent
One Tech Group is a global industrial player founded by Sellami in 1978.
Namibia’s Tromp family gains nearly $1 million from stake in Nictus Holdings
Nictus is a diversified investment holding operating the General Motors franchise in Namibia.
Ackerman family to pocket more than $2.9 million in dividends from South Africa’s Pick n Pay
Pick n Pay is South Africa’s second-largest retailer, with more than 2,000 stores in eight African countries.