Cameroonian banker Alain Nkontchou loses over $1 million from investment in Ecobank
The company’s market capitalization is presently $471 million.
African Billionaires
Controlled by Kenya’s richest families, NCBA Group posts $65 million in profit in H1 2022
The double-digit increase in earnings was driven by a significant rise in interest and non-interest income.
Egyptian businessman Medhat Khalil’s Raya partners with Lafarge Egypt to convert trucks to natural gas
Khalil owns 58.1 percent of the company, or 1,245,661,205 shares.
Egyptian tech tycoon Mostafa Kandil gains over $1 million from stake in startup, Swvl Holdings
Kandil owns 6.35 percent of Swvl, a global supplier of disruptive tech-enabled mass transit solutions.
Nigerian tycoon Herbert Wigwe’s Access Holdings gets approval to acquire Lagos-based First Guarantee Pension
Wigwe holds a 4.26-percent stake in the pan-African group.
Robert Smith, America’s richest Black person, sees net worth rise by $2.95 billion in 2022
The performance of his stake in Vista Equity Partners can be thanked for the billion-dollar increase in his net worth.
Walmart to buy remaining stake in South African mogul Mark Lamberti’s Massmart for $377 million
If shareholders agree, the retailer will be delisted from the Johannesburg Stock Exchange.
Ghanaian founder Gregory Rockson’s mPharma to pay over $4 million in taxes in 2022
mPharma was founded in 2013.
South African billionaire Nicky Oppenheimer-linked Tana Africa invests in Sundry Markets
Sundry Markets was founded nearly seven years ago by Nigerian businessman Ebele Enunwa.
Tanzanian billionaire Mohammed Dewji’s MeTL Group unveils insurance scheme
METL Group is Tanzania’s largest home-grown corporation, worth more than $1 billion.
South African tech tycoon Jens Montanana loses over $9 million in 10 days from stake in Datatec
Montanana founded Datatec more than 35 years ago.
Egyptian tycoon Ahmed El Sewedy’s electric company completes bus charging units in Cairo
El Sewedy Electric is a multinational cable and electrical equipment manufacturer.
Kenyan banker Gideon Muriuki’s Co-operative Bank posts $95.6 million in profit in H1 2022
Its profit rose by more than 55 percent to $95.7 million.
Nigerian banker Jim Ovia to pocket $3.6 million in interim dividends from Zenith Bank
The news puts his total dividend earnings from Zenith Bank this year at $17.7 million.
Mombasa-based businessman Ramesh Malde’s Pwani Oil buys stationery firm
Pwani Oil Products is a Kenyan company owned by Mombasa-based tycoon Malde and his family.
South African billionaire Johann Rupert’s Richemont to sell stake in loss-making YNAP to Fartech, Emirati tycoon
Richemont will examine the fair value write down pertaining to its investment in YNAP at $2.7 billion.