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.
African Billionaires
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.
Financial services firm linked to Egypt’s Sawiris family suffers over $12 million in losses in H1 2022
OFH was founded in 1997 by the late Onsi Sawiris, a member of Egypt’s billionaire Sawiris family.
Aga Khan IV-backed Jubilee to receive $2.27 million from sale of Mauritian insurance subsidiary
Jubilee Holdings is a Kenyan investment holding company.
Nigerian billionaire Femi Otedola gains $12.7 million from stake in FBNH
FBNH is one of Nigeria’s largest financial services conglomerates.
Egyptian billionaire Yasseen Mansour gains $1.86 million in 74 days from Palm Hills stake
Mansou owns a sizable 5.6-percent stake in the Cairo-based real estate firm.
Nigerian billionaire Abdul Samad Rabiu unveils $23.8-million security support fund
It is the single largest donation to a philanthropic cause made by a Nigerian businessman.