Africa’s richest man Aliko Dangote’s cement business to pay $221 million in corporate tax in H1 2022
Dangote Cement is 86-percent owned by Dangote and ranks as Africa’s largest cement producer.
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Ethiopian billionaire Mohammed Al Amoudi’s wealth slumps after earning $230 million in July
His net worth fell in the first two weeks of August by $140 million.
Types of family businesses: James Bond?
In the James Bond family business type, the sole family member in the business is the founder.
Led by South African exec Mike Teke, Seriti Resources acquires majority stake in Windlab Africa
Teke is the founder of Masimong Group and one of Seriti Resources Holdings’ four shareholders.
Egyptian auto tycoon Raouf Ghabbour’s GB Auto posts $37.6 million in profit in H1 2022
The wealthy Ghabbour family owns 62.9 percent of the leading automaker.
Financial services firm linked to Egypt’s Sawiris family suffers over $12 million in losses in H1 2022
OFH was founded in 1997 by the late Onsi Sawiris, a member of Egypt’s billionaire Sawiris family.
Aga Khan IV-backed Jubilee to receive $2.27 million from sale of Mauritian insurance subsidiary
Jubilee Holdings is a Kenyan investment holding company.
Nigerian billionaire Femi Otedola gains $12.7 million from stake in FBNH
FBNH is one of Nigeria’s largest financial services conglomerates.
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.