Kenya’s Merali family rakes in $5.4 million from stake in Sasini Tea
The recent gain solidifies the Merali family’s position as one of the wealthiest families in East Africa.
African Billionaires
Nassef Sawiris’ wealth surges by $600 million, cementing position as Egypt’s richest
The $600-million bump cements his position as one of Africa’s richest billionaires.
Michiel Le Roux’s Capitec shines with over $531 million in profit in 2023
Under Le Roux, Capitec Bank has grown into one of the world’s most reputable retail banking brands.
Michael Jordan scores big with $300-million boost in net worth this year
Since the start of the year, Jordan’s net worth has risen by $300 million, from $1.7 billion to $2 billion.
Nigerian entrepreneur Etop Ikpe’s Autochek acquires stake in Egypt’s AutoTager
Autochek is a digital automotive commerce firm.
South Africa’s richest man Johann Rupert crosses $13-billion net worth milestone
Rupert is the richest man in South Africa and the second-richest billionaire on the African continent.
Kenyan businessman Andrew Ndegwa gains $3 million in 26 days
Ndegwa owns 4.3 percent of NCBA Group.
Fund set up by Moroccan King Mohammed VI to rescue hotel chains in distress
The Mohammed VI Investment Fund aims to revive activity in Morocco’s tourism sector.
Uganda’s richest man Sudhir Ruparelia demands $8.66 million in rent arrears from dfcu Bank
Uganda’s richest man with a $1.1-billion net worth in 2012, Ruparelia is the chairman and founder of The Ruparelia Group.
Jamaican billionaire Michael Lee-Chin lists Cayman mansion for sale at $35 million
If the property is sold at the current asking price, Lee-Chin will pocket a profit of almost $22.5 million.
How Jay-Z made his money: Four deals that propelled his net worth to $2.5 billion
Despite his remarkable career as one of the greatest rappers of all time, Jay-Z amassed his $2.5-billion fortune from his diverse investments.
Transcorp’s market cap up by $55 million following Femi Otedola’s acquisition
The company’s market capitalization has surged by $42 million since the news of the acquisition broke on April 12.
Aliko Dangote hits $20-billion net worth, joining elite ranks of world’s billionaires
The surge in Dangote’s net worth makes him the 82nd richest man in the world.
James Mwangi’s Equity Group invests $76.7 million in Congo unit
By increasing its investment in DR Congo, the Mwangi-led group aims to solidify its position as a key player in the region.
Segun Agbaje-led GTCO records $367.4-million profit in 2022
Agbaje emphasized the group’s commitment to sound business strategies and strong fundamentals.
Led by Peter Ashade, United Capital rakes in $5.3 million in profit in Q1 2023
United Capital is an investment bank and a pan-African financial services group led by Ashade.