Egyptian auto tycoon Raouf Ghabbour’s GB Auto approves capital reduction via treasury share cancelation
Raouf and Nader Ghabbour, and other members of the wealthy Ghabbour family, own 62.9 percent of the leading automaker.
African Billionaires
South African businessman Barry Swartzberg pledges $52 million in shares as security for $12.2-million obligation
Swartzberg is prohibited from selling the pledged shares.
Nigerian billionaire Femi Otedola dumps shares in FBHN worth $17.8 million
The transaction is expected to have an impact on Otedola’s dividend earnings.
Bank of Uganda takes interest in $10-million loan dispute between Patrick Bitature, Vantage Capital
Bitature is the founder, chairman, and group CEO of Simba Group, an East African conglomerate.
South African mogul Adrian Gore’s Discovery Limited launches private firefighting service
Gore owns a sizable 7.48-percent stake in the Sandton-based company.
Wealthy South African Ackerman family receives $15 million in Pick n Pay dividends
The $15.04-million dividend was drawn from the group’s retained earnings of $306.5 million.
Nigerian tech tycoon Mitchell Elegbe’s Interswitch to start paying allowances to employee spouses
Interswitch did not specify how much it will pay or the range of pay.
Dutch-Nigerian tycoon Cornelius Vink-linked Titan Trust Bank secures $300 million from Afreximbank
Titan Trust Bank is one of many subsidiaries of Tropical Genera Investment Group.
Led by Egyptian exec Karim Awad, EFG Hermes issues $26.8-million bond
The bond has a credit rating of “A-” from Middle East Ratings and Investor Services.
South African billionaire Michiel Le Roux gains $135 million in 35 days, net worth nears $2 billion
Le Roux owns 11.41 percent of the leading banking group.
Nigerian billionaire Mike Adenuga earns over $3.6 million in single day from Conoil
So far this year, the company’s share price has increased by 45.4 percent.
Wealthy Kenyan Ndegwa family gains $3.1 million from stake in NCBA Group
The Ndegwa family owns 12.52 percent of NCBA Group, which is worth more than $45 million.
Egyptian mogul Ahmed Ezz’s steel company records more than $65 million in profit in Q1 2022
Ezz owns a majority 60.7-percent stake in Ezz Steel.
Nigerian billionaire Abdul Samad Rabiu gains half a billion dollars off back of stake in BUA Cement
The total value of Rabiu’s shares in publicly traded companies is now more than $8.6 billion.
South African billionaire Stephen Saad loses more than $250 million from Aspen Pharma stake
Saad owns a 12.5-percent stake in Aspen Pharmacare Holdings, worth $566 million.