Nigerian banking magnate Jim Ovia’s Zenith Bank pays investors balance of $500 million Eurobond
Ovia owns a significant 16.2-percent stake in the leading lender worth over $300 million.
African Billionaires
South African mogul Adrian Gore sells $3.1 million in Discovery Limited shares in May
Gore owns a 7.47-percent stake in the South African financial services conglomerate.
Egyptian billionaire Nassef Sawiris gains $1.25 billion in May
Sawiris’ net worth reached $7.45 billion at the end of the month.
Greek tycoon John Coumantaros’ Flour Mills records more than $67 million in profit in 2022
Coumantaros owns a majority 63.34-percent stake in the company.
Cameroonian mogul Paul Fokam’s Afriland moves to sell Ugandan subsidiary
Afriland First Group is further reducing its presence in Africa.
Johann Rupert now South Africa’s richest man, one week after losing spot to Nicky Oppenheimer
Rupert is now ranked 214th on the Bloomberg Billionaires Index.
Africa’s richest man Aliko Dangote loses $702 million on last trading day of May
Dangote derives nearly half of his $20-billion fortune from his 86-percent stake in Dangote Cement.
Dubai billionaire Hussain Sajwani acquires De Grisogono, once owned by Isabel dos Santos
dos Santos was previously the majority shareholder of De Grisogono, a Swiss luxury jeweller.
South African billionaire Patrick Soon-Shiong loses nearly $1 billion since start of 2022
Soon-Shiong holds $7.03 billion of his $8.99-billion fortune in cash.
Led by Togolese founder Jean-Marc Savi de Tove, Adiwale Partners invests $5.8 million in Enko Education
Jean-Marc Savi de Tove said the investment will allow the company to expand its network.
Led by Egyptian Khamis family, Oriental Weavers’ earnings fall as raw material prices rise
Yasmine Mohamed Khamis and her family own a 56.58-percent controlling interest in the leading carpet manufacturer.
Nigerian billionaire Femi Otedola gains more than $6.8 million in past six days from First Bank stake
Otedola is the largest stakeholder in the financial services provider.
Siemens, Nassef Sawiris-linked Orascom to collaborate on world’s sixth-largest high-speed rail system
Sawiris owns 28.97 percent of Orascom Construction.
Namibia-based tech entrepreneur David Akinin’s JABU raises $15 million from investors
Akinin founded JABU in mid-2020.
African Bank to acquire Johann Rupert-linked Grindrod in $97-million deal
Grindrod is a freight logistics and shipping services company owned in part by Rupert’s Remgro Limited.
Healthcare investment as a future focus
The past three years have had a massive global impact, in which the healthcare industry has become the center of all focus.