Kenyan tycoon Rohan Patel gains $1.2 million in two weeks from stake in Sanlam Kenya
Patel owns a significant 20.7-percent stake in the Kenyan insurer.
African Billionaires
Led by Polish entrepreneur Iliana Montauk, Manara raises $3 million to expand talent pool in North Africa
The edtech startup was founded last year by Montauk and Laila Abudahi.
Kenyan industrialist Baloobhai Patel acquires $2.5-million stake in Bamburi Cement
Patel also owns stakes in Carbacid, Absa Bank Kenya, Co-operative Bank and Safaricom.
Nigerian logistics tycoon Taiwo Afolabi becomes chairman of Sifax Group
After working for Nigerian Express Agencies Limited in the 1980s, Afolabi founded SIFAX Group in 1988.
US rumored to be building world’s largest consulate in Nigeria with billionaire Gilbert Chagoury
In 2000, a Swiss court reportedly convicted Chagoury of laundering funds looted by Nigeria’s late military leader Sani Abacha.
Cosmetics billionaire Rihanna to launch skincare brand Fenty Beauty into Africa
Rihanna is the 1,729th richest person in the world.
Wealthy Egyptian Khamis family loses $25.2 million from stake in Oriental Weavers
The family is set to earn $23.9 million in final dividends from their stake in the leading carpet manufacturer.
What African billionaires can learn from Russian billionaire about securing a second passport long before a crisis
Freedom and peace of mind knowing that a Plan B is in place.
South African exec Nonkululeko Nyembezi becomes first Black woman to chair Standard Bank
Nyembezi is a seasoned South African corporate leader.
South African executive Andre Joubert sells $1.33 million in shares in leading miner, ARM
Joubert has been the CEO of ARM’s Ferrous Division since July 2012.
Wealthy Kenyatta family gains $3.1 million in six days from stake in NCBA Group
NCBA Group shares have soared in value in recent days.
South African billionaire Patrice Motsepe-linked Sanlam finalizes UK divestment
The divestment is consistent with the group’s strategy to simplify its UK operations.
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.