Orascom, led by Sawiris family, to pay out $21.6 million to shareholders
Orascom Construction is a Cairo-based multinational engineering and construction firm.
African Billionaires
Robert Smith remains America’s richest Black billionaire with $11.9-billion net worth
Smith is the founder of one of the biggest U.S. tech-focused private equity firms, Vista Equity Partners.
Nairobi-based entrepreneur Jit Bhattacharya’s BasiGo to assemble 1,000 electric buses in Kenya
BasiGo is a Kenyan e-mobility startup.
Aliko Dangote’s stepbrother Sayyu Dantata launches $450-million lubricant plant in Lagos
Dantata is the founder and chairman of MRS Holdings Company Limited.
Egyptian businessman Hisham Talaat Moustafa’s group pledges $167 million toward community development
Hisham Talaat Moustafa holds a 43.16-percent stake in the group.
Egyptian tycoon Safwan Thabet and son freed after two years of detention
Thabet is a well-known Egyptian businessman who founded and previously led Juhayna Food Industries.
South African pharma tycoon Stephen Saad gains $37.1 million from Aspen shares
Saad owns a significant 12.5-percent stake in Aspen Pharmacare Holdings.
Meet Kenyan entrepreneur who raised $40 million in funding for his startup in 2022
Mbaabu’s unique approach and determination to drive change in the retail industry have set him apart.
Jim Ovia gains $61.3 million in 110 days as Zenith Bank shares rise 29 percent on NGX
Ovia owns a 16.2-percent stake in Zenith Bank.
Ahmed El-Sewedy’s electric company to aid Saudi Arabia in achieving net-zero emissions by 2050
El Sewedy Electric is a leading multinational cable and electrical equipment manufacturer.
Algerian mogul Abderrahmane Benhamadi’s Condor sells Alver to French giant Castel Group
The sale is a strategic move to refocus the company on its core operations.
GB Corp emerges as cohesive entity, honoring legacy of late Egyptian tycoon Raouf Ghabbour
The rebranding efforts follow the passing of Ghabbour.
Nicky Oppenheimer’s net worth skyrockets by $200 million in just 21 days
Oppenheimer has seen his net worth soar from $8.03 billion at the start of the year to $8.23 billion.
Beyonce to pocket $24 million from private performance at Dubai’s Atlantis The Royal
Beyonce is one of the richest Black women in the world.
Mauritian tycoon Arnaud Lagesse’s IBL Group looks to expand in Kenya’s diverse industries
The Lagesse family owns 16.8 percent of IBL Group.
This Nigerian venture capitalist led his VC firm in raising $46 million in 2022
Kola Aina is a key player in the African venture capital space.