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 Billionaires
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.
South African businessman Alan Pullinger loses $4.35 million from stake in FirstRand
Pullinger owns about 0.1 percent of the leading lender, or 5,634,679 ordinary shares.
Meet the 7 richest Black women in the United States in 2022
The most recent addition to the list is U.S. businesswoman Emma Grede.
Greek magnate John Coumantaros to receive $13.4 million in Flour Mills dividends
Coumantaros owns a majority 63.34-percent stake in the agro group.
Zimbabwean billionaire Strive Masiyiwa’s ADC expands footprint with massive data center facility in South Africa
The news comes a week after ADC announced the construction of a 30-megawatt data center facility in Accra, Ghana.
Billionaire Patrice Motsepe, Agri SA launch projects to drive growth in South Africa’s agro sector
The Motsepe Foundation facilitated $4.4 million in funding for the first two projects.