Tanzanian businessman Gaurav Kotecha fails to overturn arrest warrant over $5.9-million fraud case
Kotecha has been charged alongside his father, Midland Hauliers Director Javesh Kumar Prabhudar Kotecha.
African Billionaires
Egyptian mogul Hendi El-Sherbini acquires additional $3.2 million in IDH shares
Her stake in the company has now risen from 25.5 to 26.1 percent.
Zimbabwean exec Andrew Chimphondah-led Shelter Afrique recovers $5.7 million in troubled projects
Chimphondah is known for his successful business turnarounds.
Kenya Revenue Authority investigates John Kimani-linked Kakuzi for tax evasion
Kimani owns 32.3 percent of the company, or 6,330,699 shares.
Ugandan tycoon Charles Mbire’s MTN Uganda reports more than $50 million in profit in H1 2022
Mbire owns 3.98 percent of the company.
South African billionaire Nicky Oppenheimer loses $780 million in past 54 days
Oppenheimer remains one of Africa’s richest billionaires and South Africa’s second wealthiest person.
African-American billionaire Kanye West accuses Adidas of organizing Yeezy Day 2022 without approval
The accusations come nearly nine years after he signed a lucrative multiyear deal with Adidas to design the Yeezy brand.
Indian-Kenyan entrepreneur Kamal Budhabatti’s Little plans to raise $17 million in stake sale
The funding will also aid in the development of its infrastructure and talent pool through retention and strategic recruitment while growing its presence in the region.
Madagascar’s richest man Ylias Akbaraly’s Thomson Broadcast finalizes GatesAir acquisition
Thomson Broadcast is a wholly owned subsidiary of Group Sipromad.
Johann Rupert’s Remgro, MSC reach agreement on Mediclinic acquisition terms
Rupert’s investment firm, Remgro, owns 44.6 percent of Mediclinic, South Africa’s largest hospital operator.
Nigerian billionaires Aliko Dangote, Abdul Samad Rabiu bag merit awards in Niger
The billionaires have both played an important role in the country’s economic growth.
South African exec Arrie Rautenbach-led Absa Group expects earnings to rise by 27 percent in H1 2022
Rautenbach owns a 0.023-percent stake in the banking group, worth $1.94 million.
Led by Egypt’s richest family, Orascom Construction adds $1.8 billion in new projects in Q2 2022
The billionaire Sawiris family owns 51.8 percent of Orascom Construction.
Moroccan tech tycoon Karim Benjelloun loses over $2.5 million in 54 days from stake in Disway
Disway is a major technology player in the Maghreb region.
Kenyatta family-linked NCBA unveils $16.8-million EV financing as demand for battery-powered cars soars
NCBA Group is a Nairobi-based financial services conglomerate with subsidiaries in Tanzania, Rwanda, Uganda, and Cote d’Ivoire.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods reports more than $90 million in profit in H1 2022
Rabiu and his son own 99.8 percent of the newly established food business.