Meet two Tunisian entrepreneurs set to make millions in $390-million AI-firm sale
They will also be eligible for performance-based future milestones.
African Billionaires
Ahmed El-Sewedy-led Elsewedy Electric wins $176.10 million Saudi solar power contract
The El-Sewedy family owns 68 percent of Elsewedy Electric.
Nigerian businessman Tony Elumelu reaps $2.36 million in gains from UBA share-price increase
Elumelu owns a significant 6.9-percent stake in UBA.
Kenyan multimillionaire Humphrey Kariuki faces legal battle over prime land in Nairobi
Kariuki is a leading Kenyan multimillionaire businessman.
Centum, led by family of late Kenyan tycoon Chris Kirubi, to buy back shares worth $4.8 million
Kirubi passed away in 2021 at the age of 80.
Billionaire El-Sewedy family loses $36 million amid Egyptian pound depreciation
The El-Sewedy family owns a 68-percent stake in Elsewedy Electric.
Mauritian Lagesse family-linked firm Transmara Sugar faces $7.8-million farmers claim
IBL Group holds an ownership interest in Transmara Sugar Company.
Kenyan entrepreneur Cynthia Wandia’s fintech startup Kwara raises $3-million seed extension
Kwara is a Nairobi-based fintech startup.
Sasini, controlled by family of late Kenyan tycoon, invests $6 million in fixed-income securities
The family of late Naushad Merali is the majority shareholder of Sasini Tea.
Neal Froneman: Sibanye-Stillwater’s proposed unit to secure $700 million from U.S. gov’t
Froneman owns a 0.074-percent stake in Sibanye-Stillwater.
Swazi billionaire Natie Kirsh’s net worth surges by $157 million
Kirsh derives the majority of his fortune from Kirsh Group and Jetro Holdings.
South African billionaire Christo Wiese’s stake in Shoprite jumps $67 million in 16 days
Wiese owns 11.63 percent of Shoprite Holdings, Africa’s largest retailer.
Abdul Samad Rabiu becomes Africa’s fourth-richest man, ousting Egypt’s Nassef Sawiris
Rabiu is Nigeria’s second-richest man.
Cameroonian banker Alain Nkontchou makes $1.5-million power move with Ecobank share purchase
Nkontchou is the chairman of Ecobank.
This Kenyan Investment banker recently raised $128 million to invest in East African SMEs
Owino is the founder of Ascent Capital.
Elon Musk’s satellite Internet service Starlink to launch in Kenya in Q2
Starlink is the satellite Internet service provided by SpaceX.