Egyptian Khamis family loses more than $50 million in 16 weeks on stake in Oriental Weavers
The Khamis family is one of Egypt’s wealthiest families.
African Billionaires
Led by Kenya’s Kirubi family, Haco Industries receives additional $2.3 million from Societe BIC
Haco Industries is one of the region’s leading FMCG manufacturers.
Mauritian multimillionaire Dominique Galea loses $2.4 million from stake in MUA
Galea remains one of the wealthiest investors on the Stock Exchange of Mauritius.
Buhari sends congrats as Abdul Samad Rabiu reappointed as head of France-Nigeria Business Council
Rabiu is one of the continent’s wealthiest businessmen, with a $7-billion net worth.
Somali businessman Ismail Ahmed’s WorldRemit expects school reopening to boost diaspora remittances to Kenya
WorldRemit was founded by Ahmed, Richard Igoe, and Catherine Wines in 2010.
French businessman Jeremy Hodara’s Jumia partners with Realme to drive African smartphone adoption
Jumia is Africa’s leading e-commerce platform.
Led by South African businesswoman Portia Derby, Transnet signs $1.5-billion credit facility to fuel growth
The credit facility will be used to finance the company’s capital expansion program.
Mohammed Akoojee-led Imperial Logistics acquires controlling stake in Africa FMCG Distribution Limited
The transaction is Imperial’s first since being acquired by DP World on March 21.
Ugandan pharma tycoon Emmanuel Katongole loses over $1 million in one year
Katongole owns 2.79 percent of the company, which translates to 101,933,042 ordinary shares.
Led by Kenyan businesswoman Nasim Devji, Diamond Trust Bank intends to open 17 new branches
DTB has grown into a financial services industry leader under Devji.
Egyptian billionaire Naguib Sawiris considers sale of Italy’s largest Internet services group
Sources say the Sawiris-led group is considering selling a minority stake or even a controlling stake.
Samsung welcomes South African billionaire Michiel Le Roux’s Capitec on payment platform
The long-term success of Samsung Pay is driven by strong partnerships.
South African-born Kenyan businessman Michael Joseph prolongs term as KQ chairman
Joseph was appointed chairman of KQ in October 2016.
Burundi asks Nigerian billionaire Aliko Dangote to establish cement plant
Dangote owns an 86-percent stake in Dangote Cement Plc, Africa’s largest cement producer.
Egyptian billionaire Yasseen Mansour loses over $6.7 million from stake in Palm Hills
Despite the year-to-date loss, Mansour remains one of Africa’s wealthiest men.
Nigerian logistics tycoon Taiwo Afolabi’s Sifax Group plans strategic move into energy sector
Founded in 1988, Sifax Group is one of Nigeria’s leading conglomerates.