South Africa approves acquisition of Bokoni Mine by billionaire Patrice Motsepe’s ARM
The mining company announced that the multimillion-dollar transaction will go into effect on Sept. 1.
African Billionaires
Zimbabwean billionaire Strive Masiyiwa’s Liquid acquires Israeli tech firm, Telrad
Liquid’s cloud solutions have expanded rapidly under Masiyiwa’s leadership.
Uganda’s richest investor Charles Mbire gains $4.7 million from stake in MTN Uganda
The $4.7-million bump in his stake solidifies his position as the richest investor on the Uganda Stock Exchange.
South Africa’s richest man Johann Rupert suffers $290-million wealth loss
The multimillion-dollar drop in his net worth can be attributed to the performance of his 9.14-percent stake in Richemont.
Nigerian president taps Africa’s richest man Aliko Dangote to head Nigeria End Malaria Council
Dangote was chosen due to his track record and passion for supporting public health issues.
South African billionaire Michiel Le Roux’s stake in Capitec Bank surges above $1.7 billion
The billionaire has recorded an impressive $149-million surge in the value of his stake in the past 16 days.
Namibian tycoon Quinton van Rooyen recoups previous losses as investors react to court ruling against JSE
Van Rooyen’s equity interest is still down by more than $40 million.
Egyptian fintech founder Ashraf Sabry’s Fawry reports $5.1 million in profit in H1 2022
Fawry’s market cap is $640 million, while Sabry’s 2.345-percent stake is valued at $15 million.
July Ndlovu-led Thungela posts record profit of $585 million as coal price soars
Thungela is a market leader in the production and export of high-quality, low-cost thermal coal.
John Kimani-linked Kakuzi partners with California-based berries seller, Driscoll’s
Kimani, a member of Kakuzi’s board of directors, owns 32.3 percent of the company, or 6,330,699 shares.
London-based Egyptian billionaire Mohamed Al Fayed loses $100 million in 110 days
Despite the drop in his net worth, Al Fayed still ranks as one of Africa’s wealthiest billionaires.
Africa’s richest man Aliko Dangote’s cement business to pay $221 million in corporate tax in H1 2022
Dangote Cement is 86-percent owned by Dangote and ranks as Africa’s largest cement producer.
Ethiopian billionaire Mohammed Al Amoudi’s wealth slumps after earning $230 million in July
His net worth fell in the first two weeks of August by $140 million.
Types of family businesses: James Bond?
In the James Bond family business type, the sole family member in the business is the founder.
Led by South African exec Mike Teke, Seriti Resources acquires majority stake in Windlab Africa
Teke is the founder of Masimong Group and one of Seriti Resources Holdings’ four shareholders.
Egyptian auto tycoon Raouf Ghabbour’s GB Auto posts $37.6 million in profit in H1 2022
The wealthy Ghabbour family owns 62.9 percent of the leading automaker.