Moroccan real estate tycoon Alami Lazraq gains $5.7 million from ADI stake
Lazraq, a Moroccan real estate mogul who founded Alliances Group in 1994, owns 51.7 percent of the group’s publicly traded subsidiary, ADI.
African Billionaires
Kenyan entrepreneur Peter Njonjo’s Twiga adopts cost-cutting amid funding challenges
Njonjo highlighted the role of technology in this transformation, exemplifying it with an optic sensor installed at the Taveta farm.
Aiteo Group counters with concrete facts baseless allegations against its founder and CEO — Nigerian billionaire Benedict Peters
In a world where misinformation can spread at an alarming pace, the responsibility of credible journalism becomes paramount.
Africa’s first Black billionaire Patrice Motsepe proposes BRICS visas targeting entrepreneurs
Motsepe acknowledged governments’ legitimate reservations about safeguarding their sovereignty while fostering economic growth.
Moroccan billionaire Said Alj’s Unimer Group posts $61.6-million revenue in H1
Alj, a highly influential businessman in Morocco, is the founder of Unimer which exports the “Titus” brand of canned sardines.
7 assets owned by Cameroon’s richest man, Baba Ahmadou Danpullo
As Cameroon’s richest man, Danpullo continues to play a pivotal role in the country’s economic landscape.
Indian billionaire Anil Agarwal vows to pay $250-million Zambia debt
Agarwal’s Vedanta Resources owns the Konkola Copper mine in Zambia which was seized by former President Edgar Lungu.
Kenya’s largest landowners, Kenyatta family, face $8-million loss
Through their late father’s estate, Jomo Kenyatta, the Kenyatta family owns an impressive 13.2-percent stake in NCBA Group.
Wealthy Kenyan Ndegwa family suffers over $3-million loss in single day
The Ndegwa family, which was involved in the merger of NIC Bank Group and Commercial Bank of Africa Group in 2018, owns a 14.94-percent stake in NCBA Group.
Distressed fund founded by South African tycoon Sisa Ngebulana to offload $380 million in assets
Rebosis Property Fund was established by Ngebulana in 2010.
South African executive Anton De Bruyn’s salary at Shoprite amounts to $1 million
De Bruyn’s 2022 compensation package comprises a secure base pay of $323,500 and a performance-based short-term incentive of $260,000.
South African tycoon Gary Nagle loses $3 million from stake in world’s largest mining group
South African business executive Gary Nagle owns a 0.016-percent stake in Glencore, or 2,000,000 shares.
Nigerian tycoon Taiwo Afolabi’s Sifax Group expands fleet, acquires 13 trucks
Under Afolabi, Sifax Group has evolved into a leading conglomerate with diversified interests in aviation, oil and gas, maritime, haulage, logistics, and hospitality.
Kenyan billionaire Narendra Raval faces sanctions for inflating steel prices
The Competition Authority uncovered evidence of price fixing, where nine companies, including Raval’s Devki Steel Mills, collaborated to collectively set prices.
Kanye West puts up Hollywood Hills mansion for sale at $3.6 million
West purchased the property, which consists of three bedrooms and four bathrooms, in 2003 for $1.75 million.
South African tycoon Laurie Dippenaar suffers $7-million loss from FirstRand stake
Dippenaar presently holds a 1.76-percent stake in FirstRand, equivalent to 98,726,988 shares.