Ethiopian billionaire Mohammed Al-Amoudi suffers $460-million setback following weeks of wealth gains
Al Amoudi’s stake in Preem has lost almost $700 million this year.
African Billionaires
Ugandan tycoon Emmanuel Katongole’s CiplaQCIL set to sell majority stake to Africa Capitalworks
Katongole owns a 2.79-percent equity stake in the Uganda-based pharmaceutical company.
Tech billionaire Olugbenga Agboola’s Flutterwave secures electronic money issuer and remittance licenses in Rwanda
The licenses will enable the fintech firm to provide a more comprehensive range of financial services.
African-American comedy mogul Kevin Hart signs new deal with podcast company, SiriusXM
Hart’s Hartbeat will remain responsible for curating content for Laugh Out Loud Radio.
Meet 30-year-old Black-British entrepreneur who is investing $100 million in female-founded firms
Bartlett plans to invest $1 million to $10 million in at least 10 early-stage startups.
Nigerian businessman Atedo Peterside gains $1.9 million from stake in Stanbic IBTC
The increase solidifies his position as one of the richest investors on the Nigerian Exchange.
Ugandan tycoon Ham Serunjogi’s Chipper Cash is reportedly considering a sale
Chipper Cash is a cross-border payment platform co-founded by Serunjogi.
South African mogul Mark Lamberti’s Massmart provides solar energy financing options to customers
Massmart Holdings was founded by the prominent South African businessman more than 30 years ago.
Zimbabwean billionaire Strive Masiyiwa’s ADC inks 20-year solar energy deal with Distributed Power Africa
ADC is a carrier-neutral data center provider that is affiliated with Masiyiwa’s Cassava Technologies.
Femi Otedola regains spot on Africa’s richest list as stake in Geregu Power nears $2 billion
Otedola joins a select group of African billionaires whose holdings in publicly traded companies exceed $1.5 billion.
Nigerian billionaire banker Jim Ovia has lost over $18 million so far in March
Ovia holds a significant 16.2-percent stake in Zenith Bank
Egyptian billionaire Naguib Sawiris moves money to J.P. Morgan after Silicon Valley Bank’s collapse
Although Sawiris has no direct exposure to Silicon Valley Bank, his invested companies do.
African-American billionaire Sean “Diddy” Combs joins Tyler Perry, Byron Allen in race to acquire BET
Combs plans to build a multi-billion-dollar Black-owned media giant.
Meet Paul Kimani, Kenyan entrepreneur whose HR startup processes over $200 million in payroll value annually
Success for Kimani means paving the way for the next generation of African entrepreneurs.
South African billionaire Michiel Le Roux’s Capitec Bank reaches 20-million clients milestone
Le Roux owns 11.41 percent of the Stellenbosch-based financial services provider.
Egyptian tycoon Hassan Allam’s firm set to develop world-class logistics parks in Egypt
Hassan Allam Holding is a privately owned engineering firm led by Egyptian businessman Hassan Allam.