Led by Egypt’s richest family, Orascom Construction to build strategic warehouse in Egypt
The billionaire Sawiris family owns 51.8 percent of Orascom Construction.
African Billionaires
Egyptian entrepreneur Amir Aboul Fotouh’s Mazaya startup raises $5 million to drive expansion plans
Mazaya was founded in December 2021.
British beverage group, Diageo appoints Kenyan exec John Musunga as Guinness Nigeria CEO
Musunga is the managing director of Kenya Breweries Limited.
Namibian tycoon Quinton van Rooyen’s Trustco files lawsuit against Bank of Namibia
Van Rooyen owns 63.94 percent of Trustco.
Nigerian-Lebanese tycoon Bassim Haidar plans to launch BNPL e-commerce product in South Africa
The product will provide e-commerce suppliers with a cost guarantee.
Egyptian tycoon Ahmed El Sewedy-led El Sewedy Electric to secure $102.5-million credit facilities from seven banks
The announcement follows the receipt of a $150-million loan from the International Finance Corporation.
Johann Rupert-led Remgro plans to unbundle 25-percent stake in Grindrod to shareholders
Grindrod is a freight logistics and shipping services company owned in part by Remgro.
South African exec Josua Malherbe loses $1.4 million from Remgro stake in 17 weeks
Malherbe owns a beneficial 0.21-percent stake in the investment holding.
HRH QUEEN ER II: Death and Succession
There is a well-known phrase that states that “nothing is certain but death and taxes.”
Nigerian banking tycoon Herbert Wigwe gains $2.1 million in five days as Access Bank shares rebound
Wigwe owns a significant 4.27-percent stake in the bank.
Botswana magnate Chandra Chauhan-led Sefalana reports marginal profit growth as revenue surges above $570 million
Chauhan owns a 5.53-percent equity stake in the company.
Oprah Winfrey, Apple TV+ end multiyear content deal
In recent years, Winfrey has focused on her media empire.
South African billionaire Patrice Motsepe’s net worth slumps by $500 million to $2.6 billion
Motsepe’s net worth has dropped by $500 million since the start of the year.
Nigerian telecom tycoon Mike Adenuga-linked construction firm announces $69.6-million debt facility
Adenuga owns 25.1 percent of Julius Berger through Goldstones Estates.
Moroccan tech tycoon Hassane Amor’s Microdata posts $4.3 million in profit in H1 2022
Amor’s 56.17-percent stake in Microdata is valued at $50.5 million.
Johann Rupert-linked Remgro plans to sell stake in TotalEnergies South Africa
Remgro has also completed the sale of a 30-percent stake in South Africa’s largest wine and spirits producer, Distell Group.