Tymebank breaks new ground with 6.2 million customers thanks to Patrice Motsepe’s ARC support
TymeBank is owned in part by ARC Financial Services Holding, a Black-owned and -controlled company linked to Motsepe.
African Billionaires
Moroccan businessman Hassane Amor loses $2.6 million from stake in Casablanca-based IT firm
Amor owns a 56.17-percent stake in the Casablanca-based IT services provider.
Meet Jesse Ghansah, Ghanaian entrepreneur who raised $17 million for his startup in 2022
Ghansah launched Float in 2020 to address African SMEs’ financing and cashflow issues.
Nigerian real estate mogul Paul Onwuanibe’s Landmark Africa secures $24 million funding from Shelter Afrique
Landmark Africa has extended exceptional services to more than 5,000 organizations.
Nigerian shipping tycoon Victor Odili’s stake in MTN Nigeria has slumped by $21.5 million within 48 hours
Odili is a former non-executive director of MTN Nigeria, one of Africa’s largest telecom providers.
Egypt’s richest man Nassef Sawiris loses $300 million in one week
Sawiris’ stakes in Adidas and OCI have fallen in value below $1.9 billion and $2.6 billion.
Somali tycoon Abdirashid Duale receives recognition for supporting women’s entrepreneurship
Duale and Dahabshiil’s recent recognition comes after they received two Global Good Governance awards from Cambridge IFA.
Michael Jordan considers selling majority stake in billion-dollar Charlotte Hornets franchise
He is expected to maintain a minority ownership interest in the franchise.
African-American mogul Sean ‘Diddy’ Combs wants BET to be Black-owned again
Sean “Diddy” Combs emphasized the need for greater ownership, influence, and control by people of color in the media industry
Moroccan real estate mogul Alami Lazraq loses $4.3 million from stake in ADI
Lazraq, a Moroccan real estate mogul who founded Alliances Group in 1994, owns 51.7 percent of ADI.
Kenyan banker Gideon Muriuki’s Co-op Bank records nearly $170 million in profit in 2022
Co-operative Bank Group is a Nairobi-based financial services group.
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.
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.