South African billionaire Patrice Motsepe-linked Sanlam finalizes UK divestment
The divestment is consistent with the group’s strategy to simplify its UK operations.
African Billionaires
Egypt’s richest man Nassef Sawiris now wealthier than Henry Samueli; net worth over $7.25 billion
The billionaire’s net worth has risen by $738 million since the start of the year.
Egyptian entrepreneur Islam Shawky’s Paymob raises $50 million in round led by PayPal Ventures
Paymob’s total funding since its inception seven years ago is more than $68.5 million.
Abdul Samad Rabiu’s BUA Foods acquires shipping vessels to drive West African sugar exports
The new vessel will depart and berth at BUA’s port and terminal.
Kenyan Ndegwa family transfers $14.7 million in NCBA Group shares to family firm
NCBA Group was formed through the merger of NIC Bank Group and Commercial Bank of Africa Group.
Moroccan tycoon Adil Douiri’s Mutandis posts $42 million in revenue in Q1 2022
The market value of Douiri’s 6.88-percent interest in Mutandis is assessed at $15.36 million.
Investors looking to acquire Aliko Dangote’s cement firm must make at least $13-billion offer
His 86-percent stake in Dangote Cement is valued at $10.3 billion.
Tech and the future of African business
Growth in Africa’s tech sector has been stratospheric in recent times.
Ethiopian billionaire Mohammed Al-Amoudi falls from world’s 367th to 406th richest man
His net worth fell after Preem, Sweden’s largest oil refiner, reported a 31-percent drop in revenue.
Nigerian lawyer Tola Onayemi’s Norebase raises $1 million in pre-seed funding
Onayemi founded Norebase in 2019.
Moroccan billionaire Alami Lazraq gains $42.2 million from stake in Casablanca-based home builder
Lazraq is one of Morocco’s wealthiest businesspeople.
South African billionaire Nicky Oppenheimer to pocket $2.37 million in IDH dividends
His net worth has risen by more than $675 million since the year began.
Tanzanian billionaire Rostam Aziz, AXIAN Group to invest $430.2 million in MIC Tanzania
Aziz had a net worth of $900 million in 2015.
South African billionaire Stephen Saad’s Aspen could cut COVID-19 vaccine capacity
Saad controls a 12.5-percent stake in the leading drug company.
Egyptian mogul Ahmed Ezz gains $35.3 million in 19 days from stake in steelmaker
Ezz is one of the wealthiest men in Egypt.
Zimbabwean mogul Paddy Zhanda gains over $1.5 million from Masimba in 71 days
Masimba Holdings is a well-established Zimbabwean group.