Nigerian billionaire Femi Otedola gains $12.7 million from stake in FBNH
FBNH is one of Nigeria’s largest financial services conglomerates.
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Egyptian billionaire Yasseen Mansour gains $1.86 million in 74 days from Palm Hills stake
Mansou owns a sizable 5.6-percent stake in the Cairo-based real estate firm.
Nigerian billionaire Abdul Samad Rabiu unveils $23.8-million security support fund
It is the single largest donation to a philanthropic cause made by a Nigerian businessman.
Led by South African mogul Neal Froneman, Sibanye-Stillwater slashes output target for U.S. mines
The news comes nearly two months after it suspended operations in Montana for seven weeks.
Kenyan banking exec Andrew Ndegwa gains $1.5 million in 43 days from investment in NCBA Group
Ndegwa, an executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group.
Led by Egyptian Khamis family, Oriental Weavers set to withdraw investments from China
Oriental Weavers operates under the leadership of Egyptian businesswoman Yasmine Mohamed Farid Khamis.
Mike Adenuga beats out Abdul Samad Rabiu to reemerge as Nigeria’s second-richest billionaire
His net worth has dropped by more than $400 million this year as Globacom’s share price sank.
Billionaire Gbenga Agboola’s Flutterwave faces allegations of financial impropriety amid IPO plans
Despite the allegations, the firm is continuing to prepare for its IPO.
Led by South African Mouton family, PSG embarks on strategic restructuring
The South African Mouton family owns 24.5 percent of the company.
African-American billionaire Oprah Winfrey files lawsuit against creators of ‘Oprahdemics’ podcast
As the “Queen of Talk,” Winfrey has built a thriving media empire that includes Harpo Productions.
These are the four African billionaires whose net worth has increased since start of 2022
Among them are Africa’s richest man Aliko Dangote and Egypt’s wealthiest man Nassef Sawiris.
South African billionaire Johann Rupert-linked SEACOM partners with BT Group
Seacom is privately funded and 75 percent African-owned.
Malagasy tycoon Hassanein Hiridjee says Africa needs to invest in clean energy transition
Hiridjee is one of Madagascar’s wealthiest and most powerful business leaders.
South African tech tycoon Zak Calisto gains $166 million in four weeks
Calisto is one of Africa’s richest tech entrepreneurs.
Abu Dhabi-based Chimera acquires controlling stake in financial services provider linked to Egypt’s richest family
It is unclear how much of the 59.22 percent stake held by Orascom Financial Holding, a firm led by the billionaire Sawiris family, was acquired during the transaction.
Ardova dismisses winding-up order, as Femi Otedola’s Zenon serves majority shareholder petition over $6-million debt
The once promising relationship between Otedola’s Zenon and Abdulwasiu Sowami’s Prudent Energy has taken a new turn.