South African tech tycoon Zak Calisto suffers $18.7-million loss
Calisto, who founded Karooooo in 2001 to provide stolen car recovery services in South Africa, holds a 74.73-percent stake in the company.
African Billionaires
Struggling Ugandan tycoon Patrick Bitature ordered to pay South African firm $65 million
According to court documents, Bitature has been directed to personally pay $25.4 million as a result of a breach of contract.
Morocco’s second-richest man Othman Benjelloun gains $46 million from BOA stake
With a net worth of $1.3 billion, Benjelloun is ranked as the 16th wealthiest individual in Africa and the 2,154th on a global scale.
Bank led by Kenyan businessman James Mwangi surpasses $11 billion in assets
Equity Group, under the leadership of Mwangi, reported a profit of $182.8 million at the end of the first half of its 2023 fiscal year.
Moroccan PM Aziz Akhannouch suffers $12-million loss from Afriquia Gaz stake
Akhannouch, appointed prime minister of Morocco in September 2021, derives the majority of his fortune from the Akwa Group.
Egyptian tycoon Medhat Khalil’s group posts half-year profits of $11.3 million
Khalil owns a controlling stake of 58.1 percent in Raya Holding, equivalent to a substantial 1,245,661,205 shares.
5 companies owned by South African businessman Des de Beer
De Beer, a prominent property tycoon and influential business executive, stands among South Africa’s wealthiest individuals.
50 Cent counters Paramount, argues BET is not worth $3 billion
50 Cent said in his Instagram post that BET is not worth $3 billion.
Ghana’s richest investor Daniel Ofori gains $1.3 million in 53 days
Ofori, the richest investor on the Ghana Stock Exchange, holds a beneficial 6.8-percent stake in Societe Generale Ghana.
South African billionaire heiress Caroline Rupert has invested in these 7 companies
Caroline Rupert, the only daughter of South Africa’s richest man, is the founder of Kathaka Advisers Limited, a single family office.
South African tycoon Neal Froneman loses nearly $7 million in just over 100 days
Froneman owns a 0.3-percent stake, or 8,382,849 ordinary shares, in the precious metal mining group.
7 African billionaires who made a fortune in retail
These seven ultra-high net-worth individuals who attribute their substantial wealth to their involvement in retail.
Mary Vilakazi: South African business executive earning millions from FirstRand
Appointed as FirstRand’s COO in July 2018, Vilakazi has played a pivotal role in propelling the institution’s sustained expansion.
South African tycoon Des de Beer’s REIT sells $51-million stake in UK company
Under the leadership of de Beer, Resilient has emerged as a key player in the real estate sector.
Congolese billionaire Lucien Ebata to raise $580 million in pre-export financing for oil shipments
Ebata, one of Africa’s richest men, is the founder and CEO of Orion Oil and publisher of Forbes Afrique.
Gambian tycoon Mustapha Njie’s TAF spearheading multibillion-dollar housing opportunity in Africa
The African continent stands on the precipice of transformation, with urbanization rates skyrocketing and economies burgeoning.