Moroccan tycoon Adil Douiri loses $2.6 million in 19 weeks as shares in Mutandis slump
Douri owns a 6.88-percent stake in the Moroccan consumer goods firm.
African Billionaires
South African mogul Adrian Gore’s Discovery Bank hits 1 million customers two years after launch
Discovery Bank is a subsidiary of Discovery Group, a South African financial services conglomerate.
Aliko Dangote receives $704.1 million in Dangote Cement dividends
Dangote owns an 86-percent stake in Dangote Cement, Africa’s largest cement producer.
Kenyan tycoon Tabitha Karanja says Keroche’s revenue has fallen below $1 million due to shutdown
Karanja complained that it is unbearable to witness the loss of over 400 jobs.
Egyptian businesswoman Hend El-Sherbini loses $15 million in 10 weeks from IDH
IDH is one of the Middle East and Africa’s leading consumer healthcare groups.
Karim Awad-led EFG Hermes acquires Egyptian B2B marketplace Fatura
The acquisition comes after the Egyptian startup closed a $3-million pre-Series-A funding round last year.
African-American comedy mogul Kevin Hart to open plant-based restaurants in LA
The first Hart House will open this summer in Hollywood.
South African tycoon Johan Burger loses $5.8 million on investment in FirstRand
FirstRand Limited is Africa’s largest financial services group in terms of market capitalization.
University linked to Kenya’s Moi family seeks approval for $298-million private hospital
The Moi family is reputed to be Kenya’s second-largest landowners after the Kenyatta family.
Nigerian businessman Tony Elumelu says Africa’s development depends on private sector
Elumelu is the chairman of Heirs Holding.
Billionaire Issad Rebrab extends lead as Algeria’s richest man
Rebrab is the seventh-richest man in Africa, with a net worth of $5.1 billion.
South African billionaire Nicky Oppenheimer loses more than $1.2 million on investment in IDH
However, Oppenheimer’s net worth has risen by $750 million since the start of the year.
Egyptian founder Mohamed Younes’ Khazenly raises $2.5 million in seed funding
Younes explained that the $2.5 million in institutional funding will help the startup build on its success in the region.
South African Ackerman family gains $82 million as Pick n Pay shares soar by double digits
The Ackerman family owns a significant 25.53-percent stake in the leading retailer, totaling 124,677,238 ordinary shares.
Nigerian tycoon Aliko Dangote receives $21.1 million in dividends from sugar business
The sum is 33-percent less than in 2021.
Egyptian tycoon Ahmed Ezz loses $49.6 million from stake in Ezz Steel
Ezz, who founded Ezz Steel in 1994, owns 60.7 percent of the company.