South African retail mogul Mark Lamberti’s Massmart plans to shut down Game stores in East, West Africa
Massmart is Africa’s second-largest distributor of consumer products.
African Billionaires
Egyptian billionaire Naguib Sawiris confirms no current plans to list Ora Development on EGX
In the last two years, Sawiris’ net worth has grown by $400 million.
Within 24 hours of NGX listing, Nigerian billionaire Femi Otedola’s Geregu Power gains $120 million
Geregu Power is majority owned by Otedola.
South African billionaire Nicky Oppenheimer’s net worth slumps by $100 million in 2022
Despite the slump in his net worth, Oppenheimer still ranks as the second-richest man in South Africa.
South African billionaire Michiel Le Roux’s Capitec Bank secures license for life insurance business
Le Roux owns 11.41 percent of the South African bank.
Nigerian banker Herbert Wigwe’s Access Holdings to become majority shareholder in Finibanco Angola
Wigwe owns 4.26 percent of the pan-African conglomerate.
Nigerian billionaire Femi Otedola’s Geregu Power completes listing on Nigerian Exchange
The power-generating company was acquired in 2013 by Otedola.
Nigerian entrepreneur Tola Adesanmi’s proptech startup, Spleet, raises $2.6 million to drive expansion
Adesanmi and Dolapo Adebayo founded Spleet after returning to Nigeria from the UK in 2018.
Neal Froneman-led Sibanye-Stillwater becomes majority owner of Finnish battery maker, Keliber
Froneman owns a 0.074-percent stake in Sibanye-Stillwater.
South Africa’s richest man Johann Rupert loses $1.05 billion in September
The billion-dollar drop in his net worth brings his year-to-date wealth loss to $3.55 billion.
Nigerian banking magnate Jim Ovia has now lost $60.4 million from stake in Zenith Bank
He is on course to earn an interim dividend of $3.6 million from his stake in the bank.
South African exec Piet Mouton to pocket $5.2 million in interim dividends from Capitec Bank
Mouton’s 5.78-percent stake in the bank is worth $600 million.
Kenyan businessman John Kimani’s stake in Kakuzi now worth more than $22 million
Kimani owns 34.54 percent of Kakuzi.
Egypt’s richest man Nassef Sawiris loses $620 million in September amid stock market sell-off
Despite a multimillion-dollar drop in his net worth, Sawiris remains Egypt’s wealthiest man.
Ghana’s richest investor Daniel Ofori has now lost nearly $10 million from stake in GCB Bank
Ofori, the wealthiest shareholder on the Ghana Stock Exchange, owns 7.49 percent of GCB Bank.
Nigerian billionaire Femi Otedola’s power company eyes $579-million market cap
The company has an implied valuation of $579 million.