Tanzanian gold magnate Ketan Patel suffers $1.8-million loss as Shanta Gold shares retreat
Patel owns 44,274,017 ordinary shares, or 4.22 percent of the company.
African Billionaires
Billionaire Issad Rebrab retires as CEO of Algeria’s largest private group, Cevital
On July 1, his son Malik Rebrab, who has previously held high positions in Cevital, will take over as CEO.
Ugandan magnate Charles Mbire gains $4.7 million from stake in MTN Uganda
Mbire owns 3.98 percent of the telecom company.
Burkinabe banking tycoon Idrissa Nassa’s Coris Bank signs $526.8-million trade finance line with Afreximbank
The financial services group’s capital has grown since its founding from $3 million to $9 billion.
Nairobi-based entrepreneur Bente Krogmann’s mTek raises $3-million funding for expansion
The startup will begin its expansion within Kenya through Finclusion Group branches.
‘We won’t reopen Keroche,’ KRA replies to Kenyan liquor tycoon Tabitha Karanja
The Kenya Revenue Authority (KRA) said it is demanding full accountability from Karanja.
South African billionaire Johann Rupert has now lost $3.15 billion since beginning of 2022
However, Rupert still remains South Africa’s second-richest man.
African-American billionaire Shawn ‘Jay-Z’ Carter gains over $300 million since LVMH deal in 2021
Jay Z’s assets include Roc Nation, stakes in Armand de Brignac and D’Usse cognac, and a fine art collection.
South African billionaire Christo Wiese’s Brait SE moves to list food business, Premier
The listing will take place as soon as more favorable stock market conditions permit.
Consortium comprising Egyptian tycoon Hassan Allam’s company invests $1.5 billion in Egyptian wind power plant
Hassan Allam Holding is a privately held engineering, construction, and infrastructure firm.
Tanzanian billionaire Mohammed Dewji looks to raise $1 billion to expand empire
Dewji, Tanzania’s richest man, is the CEO of MeTL Group, one of East Africa’s largest business groups.
South African property tycoon Sisa Ngebulana to build new housing development in sleepy coastal town
Ngebulana’s Billion Group plans to build a mixed-use affordable housing complex in the East Coast Crossways area in Kwelerha.
Tayo Amusan’s Ketron Investment receives $8.4 million from Nigeria’s Bank of Industry
Ketron is a wholly-owned subsidiary of Persianas Limited.
James Mwangi’s Equity Group funds Kigali Financial Towers with $100-million investment
Rwandan President Paul Kagame participated in the groundbreaking ceremony of the project.
Cameroonian businessman Paul Fokam’s Afriland faces financial accusations in DRC
Minority and majority shareholders of the bank’s DRC subsidiary are having it out.