Tony Elumelu’s UBA stake surges, raking in $8.7 million in three weeks
Elumelu currently holds a 7.17-percent stake in UBA, or 2,450,603,739 ordinary shares.
African Billionaires
Kenyan multimillionaire David Langat’s properties to be auctioned over debt
Langat, the founder and chairman of DL Group, is one of the largest indigenous producers and exporters of Kenyan tea.
Alami Lazraq scores $40-million gain from stake in Casablanca property developer
Lazraq, who controls 51.7 percent of ADI, owns 11,410,669 ordinary shares of the company valued at more than $100 million.
Femi Otedola in talks with Lagos gov’t for Nigeria’s first-ever PPP power transmission project
Otedola expressed his optimism about the talks, which aim to establish Nigeria’s first-ever PPP power transmission project.
South African executive Josua Malherbe’s stake in Remgro skyrockets, earning him $1.3 million in 42 days
Malherbe owns a beneficial 0.21-percent stake in the investment holding, or 1,178,995 ordinary shares.
Nigerian billionaire Kola Karim donated $65,000 to Conservative Party
Karim, an energy and construction tycoon, joins a list of conservative party donors that include Mohamed Mansour and Amit Lohia.
Nigerian fertilizer tycoon Thomas Etuh donates hospital to Gombe State
Etuh is the owner of TAK Group which owns operates fertilizer blending plants across the country among other interests.
Kenyan banking magnate Gideon Muriuki hit by $1.1 million in losses amid Co-op Bank share decline
The $1-million drop in Muriuki’s stake can be attributed to a nearly 10-percent decline in Co-op Bank Group’s shares.
10 assets owned by Botswana’s richest man Abdul Satar Dada
Dada is best known in Botswana for two key businesses: motor dealerships and his significant control over the country’s poultry industry.
South African billionaire Christo Wiese’s Invicta acquires 50-percent stake in Singapore’s KMPFE
Wiese controls a significant ownership stake of 19.23 percent in the Johannesburg-based investment holding company.
Egypt’s steel giant, owned by billionaire Ahmed Ezz, suffers $53-million loss in Q1 2023
Ezz, one of Egypt’s richest businessmen, owns a significant 60.7-percent stake in Ezz Steel.
Swazi billionaire Natie Kirsh loses $170 million, net worth shrinks below $7.4 billion
The decline in Kirsh’s fortune can be attributed to the performance of his private investments in Kirsh Group.
South African tycoon Andre Du Plessis hits jackpot, stake in Capitec Bank surges past $70 million
Du Plessis, a prominent South African businessman and a co-founder of Capitec Bank, owns a beneficial 0.78-percent stake in the financial services provider.
Dangote nears return as Africa’s richest man as net worth rebounds above $10 billion
At the time of writing, the wealth gap between Dangote and Johann Ruper stands at $1.1 billion.
Berlin-based startup led by Nigerian entrepreneur secures $2.74 million from investors
Propel, a Berlin-based HR tech startup, develops tools that assist tech talent communities in solving their last-mile challenges.
British-Nigerian entrepreneur leads world’s first mobility fintech firm to secure $8 million in additional funding
Moove, co-founded by British-born Nigerian entrepreneurs Delano and Jide Odunsi in 2020, aims to democratize access to vehicle ownership.