South African mogul Mark Lamberti’s Massmart to pay ex-workers $284 each in Kenya exit deal
Massmart was founded by Mark Lamberti more than three decades ago.
African Billionaires
Nigeria’s second-richest man supports higher education with $12.3-million donation
Rabiu’s grant will provide a much-needed boost to higher education in Nigeria.
Afreximbank’s FEDA acquires minority stake in Femi Otedola’s Geregu Power
Afreximbank’s Fund for Export Development in Africa will acquire a minority stake in Geregu Power.
This 32-year-old entrepreneur recently raised $20 million to invest in women-owned businesses
Adesuwa Okunbo Rhodes is one of the youngest female private equity fund managers in Africa.
Swazi billionaire’s fortune sees unexpected $100-million recovery after major drop
The majority of Natie Kirsh’s fortune stems from his 75-percent stake in Jetro Holdings.
Angola Supreme Court orders seizure of $1 billion in assets belonging to Isabel dos Santos
Dos Santos was once considered Africa’s wealthiest woman.
Billionaire Patrice Motsepe’s ARM faces $195-million lawsuit from Tanzania’s Pula
Motsepe owns a 39.7-percent stake in ARM.
South African exec David Hurwitz sells $3 million in shares in Transaction Capital
Hurwitz’s stake in Transaction Capital has decreased to 2,500,965 shares.
MTN Uganda takes hit, leading to $5-million loss for Uganda’s richest investor Charles Mbire
Mbire owns a 3.99-percent stake in MTN Uganda, or 894,494,705 shares.
Meet Ugandan-based entrepreneur who secured $30 million in funding for his startup this year
Prior to founding Asaak, Sattar worked as a data scientist at LendingHome.
Daughters of late Egyptian billionaire transfer $55.8 million in shares to family investment vehicle
The Khamis family owns a controlling interest of 56.58 percent in Oriental Weavers.
South African billionaire Johann Rupert loses $300 million in December
The market value of Rupert’s stake in Richemont fell rom $7.71 billion to $7.54 billion in December alone.
Meet 39-year-old Nigerian entrepreneur who has raised $191.1 million so far for his startup
Ladi Delano is no stranger to success.
Coris Bank, headed by Burkinabe businessman Idrissa Nassa, opens new branch in Togo
Coris Bank is a leading force in the financial services industry.
TFG, led by South African tycoon Michael Lewis, acquires Street Fever to bolster footwear offerings
Lewis played a pivotal role in the growth and success of TFG.
Adidas struggles to sell $530 million worth of sneakers after cutting ties with Ye’s Yeezy brand
Ye’s net worth has declined by $1.6 billion since Adidas severed ties with Yeezy brand.