Moroccan PM Aziz Akhannouch’s Maghreb Oxygene reports $7.6 million in profit in Q1 2022
Akhannouch is a leading businessman who was appointed prime minister of Morocco in September 2021.
African Billionaires
Egyptian mogul Khaled Mahmoud’s MM Group reports 60-percent slump in earnings in Q1 2022
Mahmoud owns a significant 10.13-percent stake in the company, worth nearly $13 million.
South African mogul Nicky Oppenheimer’s net worth increases by $825 million in 2022
Oppenheimer is one of a handful of African billionaires whose fortunes have grown significantly in 2022.
Egyptian multimillionaire Medhat Khalil’s Raya Holding to sell stake in Ostool Transport in $14.3-million deal
Raya Holding has grown into a leading brand in Egypt since its formation in 1999.
Mauritian magnate Dominique Galea-led insurer MUA announces $10-million equity investment
Galea owns 15.43 percent of the insurer, worth $25.5 million.
Burkinabe mogul Idrissa Nassa’s Coris Bank launches $13-million Ivory Coast headquarters
Nassa s one of the richest men in Burkina Faso.
Segun Agbaje-led Guaranty Trust receives CBN approval to launch payment subsidiary
HabariPay will help expand the group’s services to largely underserved markets.
Led by Ralph Mupita, MTN Group completes sale of 5,701 towers to Sam Darwish’s IHS for $415 million
IHS will now own 70 percent of its South African towers business.
U.S.-Nigerian telecom tycoon Sam Darwish gains $26.8 million in 22 days
Darwish founded IHS Holdings, a Nigerian telecom infrastructure firm, in 2001.
Kenyan mogul Julius Mwale sets eyes on mineral-rich DRC after attempt to revive Mumias Sugar
Mwale is a principal investor in Mwale Medical and Technology City.
South African billionaire Koos Bekker loses half a billion dollars on his Naspers stake
Bekker is still one of Africa’s wealthiest men, with a net worth of more than $2.2 billion.
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.
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.