Botswana retail tycoon Ramachandran Ottapathu loses over $4.4 million since start of 2022
Ottapathu remains one of Botswana’s wealthiest businessmen, along with his long-time business partner, Farouk.
African Billionaires
Karim Awad-led EFG Hermes acquires stake in offshore oil support company, Maridive
The transaction comes two months after Maridive approved a 5.94-percent reduction in its authorized capital to $940.51 million.
Kanye West gains more than $200 million in one year
West owns the entire Yeezy brand, which is valued at $2.9 billion.
Africa, cryptocurrency, and the future
Several governments are still contemplating whether it should even be legalized.
South Africa’s second-richest man Nicky Oppenheimer’s net worth rises by $400 million this year
Oppenheimer maintains private equity investments in Africa, Asia, the United States, and Europe.
Nigerian MMA fighter Israel Adesanya earns $1.8 million from Sunday’s UFC 276
Adesanya is expected to headline another UFC main event in the fourth quarter of 2022.
Meet Ghanaian Nadia Abdul Aziz, who owns $16-million stake in Asante Gold
Aziz owns a significant 4.13-percent stake in the company.
Benin seizes assets of exiled chicken tycoon Sebastien Ajavon over alleged tax fraud
Ajavon is the founder of Cajaf-Comon, Benin’s largest supplier of frozen chicken.
Burkinabe tycoon Mahamadou Bonkoungou’s IB Bank plans to crash interest rates in Togo
Bonkoungou acquired IB Bank in Togo last December.
Malawian banking mogul Hitesh Anadkat gains $40 million from stake in FMB Capital
Anadkat owns 35.51 percent of the Port Louis-based firm.
Swazi billionaire Natie Kirsh’s net worth slumps by more than $600 million
However, Kirsh still remains one of Africa’s wealthiest billionaires.
South African tycoon Jens Montanana’s Datatec sells Analysys Mason management consulting firm for $252 million
The transaction is part of a concerted effort by management to unlock value trapped in Datatec’s structure.
Kenyan beer tycoon Ngugi Kiuna ups stake in gas manufacturer, BOC Kenya
The acquisition solidifies Kiuna’s position in BOC Kenya as one of the company’s leading shareholders.
South African billionaire Johann Rupert suffers $570-million wealth loss in June
Rupert still remains South Africa’s richest man.
Africa’s richest man Aliko Dangote gains $100 million in June
The $100-million increase in his net worth in June follows a $300-million decline in May.
Egypt’s richest man Nassef Sawiris loses $600 million in June after gaining $1.25 billion in May
His fortune is derived from a 38.8-percent stake in Netherlands-based OCI N.V. and a six-percent stake in German sportswear behemoth Adidas.