Kenyan mogul Julius Mwale offers $20 million to farmers to restore activity at Mumias Sugar
The funds will be used to kickstart sugarcane cultivation and sugar production.
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Swiss nonprofit: Belgian tycoon Hubert Fabri’s Socfin Group allegedly shifts profits outside Africa
Bread for All claimed that the group minimizes its tax burden through the use of offshore jurisdictions.
Nigerian billionaire Mike Adenuga’s net worth increases by $200 million in 2021
The Globacom founder’s net worth at the beginning of this year was valued at $6.3 billion.
Ethiopian billionaire Mohammed Al-Amoudi gains $360 million in 21 days after losing $530 million between July and September
His $7.2-billion fortune is derived from closely held companies such as Preem, Svenska Petroleum and Midroc Europe.
Moroccan businessman Alami Lazraq loses $7 million as shares in country’s largest homebuilder slump by nearly 12 percent
ADI is Morocco’s largest home and hotel builder. Lazraq holds a majority 51.7-percent stake in the company.
Here’s how U.S. Congressman Jeff Fortenberry got pulled into a corruption case linked to Nigerian-Lebanese tycoon Gilbert Chagoury
He is accused of lying to authorities during an investigation into Chagoury’s illegal campaign contributions.
Ghanaian executive Ebenezer Asante gains $740,000 as MTN Ghana stock price skyrockets
MTN Ghana, a subsidiary of MTN Group, is Ghana’s largest telecom operator.
Led by affluent Ackerman family, Pick n Pay posts $20 million in half-year profit as headline earnings surge
However, the retailer’s financial performance was materially impacted by civil unrest in South Africa.
Tax tribunal favors John Ugbe-led MultiChoice Nigeria against tax master
Earlier, MultiChoice had filed an appeal over a perceived wrongful tax assessment spanning 10 years.
Egyptian businesswoman Hendi El-Sherbini loses nearly $20 million as shares retreat from three-year high
IDH is a leading consumer healthcare group in the Middle East and Africa.
Kenyan liquor tycoon Tabitha Karanja plans to run for Nakuru senatorial seat in 2022
After a month’s consultation with family and friends, she has decided to run for political office.
Stephen Brookes’ Balwin Properties posts $8.1 million in mid-year profit as apartment sales recover in South Africa
The South Africa-based property developer delivered double-digit growth in earnings.
Fintech tycoon Dare Okoudjou’s MFS Africa acquires leading Nigerian fintech startup
The startup, Capricorn Digital, has an impressive footprint across Nigerian households.
Namibian tycoon Koos Brandt to pocket $2.48 million in dividends from Capricorn Group
Capricorn Group is a financial services group with an operational footprint in Botswana and Zambia.
South African billionaire Oppenheimer family sets out to mine Asian economy
Their family office, Oppenheimer Generations, has opened an office in Singapore.
Strive Masiyiwa’s Liquid launches Asian-U.S. global Internet transit route through African coasts
In doing so, it has created a global Internet transit route that avoids high-risk bottlenecks in the Middle East and Europe.