Nigerian billionaire Abdul Samad Rabiu loses $198 million in almost two months
Rabiu, the chairman of BUA Group, owns 99.81 percent of the agro-allied company.
Latest
Nigerian banking tycoon Tony Elumelu to receive $4.6 million in dividends from UBA
Elumelu owns a 6.39-percent stake in the company.
Qatari businessman Moutaz Al-Khayyat acquires $18.2 million shares in Egypt-based consumer goods manufacturer
Juhayna Food Industries is a market leader in the production, processing and packaging of dairy, juice and culinary goods.
Led by Cindy Ai and Mark Kleyner, Dream VC moves to democratize access to African VC space
Dream VC is an investor accelerator and community-driven educational platform.
Aga Khan-backed Jubilee acquires additional stake in Johann Rupert-linked SEACOM
SEACOM is privately funded and about 75-percent African-owned.
South African mining mogul Neal Froneman gains $4.1 million from stake in Sibanye-Stillwater
Sibanye-Stillwater is a multinational precious metal mining company.
Charles Mbire-led MTN Uganda reports $94.26 million in profit in 2021
Mbire’s 3.98-percent equity position in MTN Uganda is valued at $44.35 million.
Johann Rupert’s Richemont suspends commercial activities in Russia
Rupert’s net worth has dropped by more than $1.8 billion this year.
Booming industries for African billionaires
Africa’s wealthiest made their fortunes by investing in industries like manufacturing, retail, telecoms, mining and oil.
Moroccan industrial tycoon Adil Douiri loses $1 million from stake in Mutandis
Mutandis has become a leading player in the Moroccan consumer goods market under Douiri’s leadership.
South African billionaire Patrice Motsepe to receive $69.6 million in dividends from ARM
Motsepe, who has been instrumental in the success of the South African miner, has a substantial 39.7 percent interest in the company.
Nigerian businessman Tony Elumelu’s UBA earns $283.6 million in profit in 2021
Elumelu derives a total wealth of $46.9 million from his stake in the pan-African bank.
Wealthy South African Mouton family moves to delist investment holding from JSE
PSG Group, a South African-based investment holding company founded and led by one of the country’s wealthiest families, the Mouton family.
Kenyan liquor tycoon Tabitha Karanja appeals to gov’t to intervene in KRA tax dispute
Karanja founded Keroche Breweries in 1997.
Linked to Malawian tycoon Hitesh Anadkat, Letshego posts $62.8 million in profit in 2021
Letshego’s market cap is valued $313.4 million, while Anadkat’s 2.76-percent stake is worth $8.6 million.
Egyptian businessman Loutfy Mansour says ‘he is not pursuing bid to buy Chelsea’ from Roman Abramovich
Mansour is the CEO of Man Capital, the private equity investment business of the Mansour Group.