Aliko Dangote, Africa’s richest man, gains $100 million as investors prepare for Q1 earnings
The wealth gains solidify his position as not only Africa’s richest man but also the world’s richest Black man.
African billionaire
Ashraf Sabry’s Fawry gains $53 million in single day after seeing over $123.4 million in block deals
Fawry is one of Africa’s leading fintech companies.
Rise of the millennials next-gen leaders stepping up
Founders and incumbent leaders have the responsibility of legacy building.
Somali tycoon Abdirashid Duale, others raise $8 million to rebuild burned-out market
Duale, a Somali multimillionaire, is the CEO of Dahabshiil, a global money transfer company founded in 1970.
Moroccan businessman Karim Benjelloun gains $1.7 million in six weeks
Disway distributes technological products and offers a wide range of international brands from IT publishers and manufacturers.
Egyptian billionaire Nassef Sawiris tops list of richest Arab billionaires
Despite losing $600 million in net worth, Sawiris remains the richest Arab billionaire on the Forbes list of the world’s richest people.
Africa’s richest man Aliko Dangote’s cement firm to issue bonds under $721.6-million program
Dangote Cement is Africa’s largest cement producer, producing 51.55 million tonnes per year across 10 countries.
U.S. digital infrastructure firm Equinix completes acquisition of Funke Opeke’s MainOne in $320-million deal
it is the latest in a series of strategic acquisitions for the world’s digital infrastructure firm.
Malagasy businessman Hassanein Hiridjee’s AXIAN Telecom closes acquisition of Milicom’s operations in Tanzania
The deal fits perfectly with AXIAN Telecom’s ambitious growth plan.
Forty-year-old Nigerian-born businessman Tope Awotona becomes billionaire
His $1.4-billion stake in Calendly makes him the world’s eighteenth Black billionaire.
South Africa-based businessman Loucas Pouroulis’ Tharisa Plc takes control of Zimbabwe’s Karo platinum project
The Pouroulis-led mining group increased its stake in Karo from 26.8 percent to 66.3 percent in an all-share deal worth $27 million.
Nigerian banker Herbert Wigwe’s Access Bank earns $385.6 million in profit in 2021
Despite a 51-percent increase in earnings, the board proposed a dividend of $0.00168 per share for shareholders.
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.
Booming industries for African billionaires
Africa’s wealthiest made their fortunes by investing in industries like manufacturing, retail, telecoms, mining and oil.
Building a multigenerational family business empire: A study of METL and Bakhresa of Tanzania
The Dewji family of Tanzania is building an empire that plans to last for generations to come.
Christo Wiese-linked retailer Steinhoff receives approval for $1.6-billion global settlement for investors
The retail behemoth was founded in 1964 by German billionaire Bruno Ewald Steinhoff.