Zimbabwean billionaire Strive Masiyiwa’s net worth slumps by $3.1 billion in nearly four months
Masiyiwa’s fortune is made up of his 52.85-percent stake in Econet Zimbabwe and 30-percent stake in EcoCash Holding.
African Billionaires
Egyptian billionaire Yasseen Mansour, Ahmed El-Sewedy donate $5.9 million to build Cairo monorail
Egypt’s first monorail, worth $4.5 billion, will be finished by 2023.
Moroccan businesswoman Lamia Tazi’s Sothema reveals plan to set up operations in Central Africa
Sothema is Morocco’s leading healthcare firm.
Uganda’s richest investor Charles Mbire acquires additional 2.26 million shares in MTN Uganda
Mbire is anticipated to receive $1.16 million from the telecom group’s interim dividend payout.
South African-born billionaire Patrick Soon-Shiong rents out part of vaccine plant as demand declines
Earlier this year, ImmunityBio opened a plant in South Africa under the name Nant SA.
Nigerian banking tycoon Jim Ovia’s Zenith Bank posts $264 million in profit in H1 2022
The increase in the bank’s profit can be attributed to a 17-percent rise in its gross earnings.
Egyptian fintech founder Ashraf Sabry gains $1.6 million in 38 days from stake in Fawry
The bump in the market value of his stake cements his position as one of the richest investors on the Egyptian Stock Exchange.
Indian-Kenyan entrepreneur Kamal Budhabatti’s Little reveals plan to build $6-million office in Nairobi
Budhabhatti said the office building’s estimated construction cost of $6 million will be financed internally.
South African mogul Adrian Gore’s Discovery partners with BlackRock to launch new asset management entity
Gore revealed that the move is a strategic attempt to deliver value.
Led by Kenyan banker James Mwangi, Equity Group posts over $200 million in profits in H1 2022
Mwangi’s 3.38-percent share in Equity Group is valued at $51.3 million at the current market price.
Tanzanian businessman Ketan Patel’s gold company looks to take over West Kenya gold licences
Shanta Gold will take over seven prospecting licenses for the West Kenya project.
Moroccan businesswoman Lamia Tazi’s Sothema records over $108 million in revenue in H1 2022
Sothema produces more than 60 million units of pharmaceuticals every year.
Kenyan tycoon Narendra Raval’s Devki Steel Mills applies for electricity supply license in Kenya
Raval was reported to have a net worth of $400 million in 2015.
Egyptian mogul Medhat Khalil’s Raya to manage Zain KSA customer experience in Saudi Arabia
Raya CX will provide outsourcing services to Zain KSA.
Types of family businesses: Eternus?
The Eternus family business, like the James Bond type, is led by an authoritarian family leader.
South African exec Mike Teke’s Seriti Resources to invest $730 million in wind farm
The investment is a watershed moment for Seriti.