King Mohammed VI of Morocco appoints billionaire Aziz Akhannouch as head of government
In 2011, Morocco introduced reforms allowing the king to choose the prime minister from the largest party in parliament.
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South African billionaire Quinton van der Burgh launches coffee table book to give back to charity
The book features John Russo’s photographs of celebrities, including Dwayne “The Rock” Johnson.
Egypt awards infrastructure projects worth $220 million to construction tycoon Hassan Allam
Hassan Allam Holdings will construct two stations and four bridges as part of a high-speed train project.
Tony Elumelu’s UBA posts $147.3-million mid-year profit, 36-percent higher than last year
The double-digit growth in profits can be attributed to UBA’s higher interest and non-interest income.
Segun Agbaje-led Guaranty Trust Holding reports 15.8-percent decline in mid-year profit
Guaranty Trust’s profit for the period fell to $194.0 million in the half-year period ending June 30.
Ernest Ndukwe-led MTN Nigeria renews Nigerian license for next 10 years
The company is Nigeria’s largest telecom operator.
Andries van Rensburg’s Libstar Holdings records 27.8-percent decline in half-year earnings
Libstar’s earnings during the period were impacted by unfavourable foreign currency movements.
Real estate magnate Samih Sawiris proposes fund to ignite Egypt-Oman relations
Sawiris also proposed to establish an umbrella organization to support businessmen from the two countries.
Namibian tycoon Quinton van Rooyen loses $187.2 million in 2021 as Trustco shares decline
Trustco shares on the Namibia Stock Exchange have now lost more than two-thirds of their value.
Egyptian mogul Mohamed Mansour raises $26.5 million in Series-B funding for India edtech startup
Following the latest funding round, the company has a pre-money valuation of $90 million.
Mauritian tycoon Pierre Guy Noel gains $1.4 million as MCB Group shares rise by 20 percent
The increase in the company’s share price, which spurred the gains, was due to aggressive buying pressure on the bourse.
South African retail tycoon Christo Wiese earns $122.6 million in 70 days from Shoprite
Renewed buying interest in the shares of the retail giant led to a double-digit increase in its share price.
Drew Durbin’s Wave becomes Africa’s latest tech unicorn after $200-million Series-A funding round
The investment is the largest-ever Series-A funding round raised by an Africa-based startup.
Oscar Pierre’s Glovo announces $60-million Africa expansion plan
The company has already invested €25 million in its existing African operations.
Tunisian politician and mogul Moncef Sellami gains $7.1 million as One Tech shares surge
OneTech is a global industrial group with interests in automobiles, energy and industry.
Widow of late Kenyan tycoon Naushad Merali gains $1.9 million in 27 days
The gains in her stake can be attributed to buying pressure on the Nairobi Stock Exchange.