Led by Kenyan banker James Mwangi, Equity Group set to acquire Spire Bank
The acquisition could present additional challenges and opportunities to Equity Group.
African Billionaires
Nigerian multimillionaire banker Jim Ovia loses nearly $22 million in 11 days
Ovia owns a significant 16.2-percent stake in Zenith Bank.
Egyptian billionaire Nassef Sawiris’ OCI N.V. to build ammonia plant in Texas
OCI N.V. stated that the project is well under way.
Kenyan investment banker David Owino’s Ascent Capital secures $128 million to invest in small businesses
Owino founded Ascent in 2012.
Nigerian banker Tony Elumelu’s UBA posts $164 million in profit in H1 2022
Elumelu owns a sizable 6.96-percent stake in the banking group, or 2,380,941,756 ordinary shares.
Senior banking executive Jeremy Awori steps down after decade as CEO of Absa Bank Kenya
His resignation will take effect on Oct. 31.
South African tycoon Jens Montanana’s Datatec joins UN corporate sustainability initiative
Montanana founded Datatec in 1986 and owns a significant 11.98-percent stake in the group.
South African mogul Adrian Gore’s Discovery posts more than $310 million in profit in 2022
Gore’s stake in Discovery is presently valued at $320 million.
Tunisian tycoon Abdelwaheb Ben Ayed’s Poulina Group sets up solar energy subsidiary
Ayed owns a beneficial 3.4-percent stake in Poulina Group.
South African billionaire Christo Wiese to pocket $13 million in Shoprite dividends
Wiese owns an 11.58-percent stake in Shoprite.
French businessman Jeremy Hodara’s Jumia partners with Zipline to pioneer drone delivery across Africa
Jumia is Africa’s leading e-commerce platform.
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.
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.