Swazi billionaire Natie Kirsh has now lost nearly half a billion dollars since start of 2022
Kirsh also owns 54 percent of Sydney-based Abacus Property Group.
African Billionaires
Greek magnate John Coumantaros gains $14 million in nine days from stake in Flour Mills of Nigeria
Coumantaros owns 63.34 percent of the agro-allied group.
Led by Karl Toriola, MTN Nigeria plans to raise $54 million from capital market investors
Toriola has been at the helm of MTN Nigeria since 2020.
Wealthy Tunisian Ben Yedder family loses $7 million in nearly six months
The ultra-rich Ben Yedder family owns a majority 53.3-percent stake in Ennakl Automobiles.
African-American mogul Sean ‘Diddy’ Combs invests $2 million in Philly startup, REC
Forbes estimated Diddy’s net worth to be $740 million in 2019.
Segun Agbaje-led GTCO posts lower earnings amid higher operating expenses
Agbaje holds a minority 0.14-percent stake in GTCO.
South African billionaire Christo Wiese-linked retailer Shoprite posts $334 million in profit in 2022
Wiese holds an 11.58-percent stake in Shoprite worth $862.4 million.
Egyptian auto tycoon Raouf Ghabbour’s GB Auto spends $7.6 million of capital raise proceeds
Ghabbour founded GB Auto in 1985 as an Egyptian manufacturer of vehicles, buses, trucks, and motorcycles.
South Africa’s richest man Johann Rupert’s net worth slumps by $1.05 billion
The recent drop in his net worth brings his year-to-date wealth loss to $2.79 billion.
Nigerian billionaire Femi Otedola becomes university chancellor
Ten months ago, Otedola was also named vice president of UK-based NGO Save the Children.
Iain Williamson-led Old Mutual looks set to acquire South African insurer, Genric
The deal is still subject to regulatory approval.
Egyptian real estate mogul Hisham Talaat Moustafa loses $8 million from TMG stake in one month
Moustafa controls a 43.16-percent stake in the conglomerate for the Talaat Moustafa family.
Zimbabwean mogul John Moxon’s Meikles records $11 million in profits in 2022
Meikles is a Zimbabwean conglomerate with a diversified portfolio of investments.
Led by Kenya’s richest families, NCBA partners with Huawei to roll out digital banking products
NCBA Group is a Nairobi-based financial services conglomerate.
East African Court of Justice orders Rwanda to pay tobacco tycoon Tribert Rujugiro $1 million
The court ruled that Rwanda violated a regional treaty when it took over and sold Rujugiro’s shopping mall.
Africa’s richest man Aliko Dangote loses $2 billion in three months as Dangote Cement shares fall
Dangote derives the majority of his wealth from his 86-percent stake in Dangote Cement.