South African businessman Justin Coetzee’s GoMetro raises $1 million in seed extension round
GoMetro was founded in 2012 as South Africa’s first real-time public transportation information system.
African Billionaires
Led by Ghanaian tycoon, Samuel Jonah, Helios Towers posts $127.5 million in revenue in Q1 2022
Its revenue rose by 23 percent to $127.5 million.
Mauritian Doger de Speville family loses $1.25 million in 78 days
The family controls a 12.8-percent stake in Medine Limited, worth almost $20 million.
Ivorian banker Niamkey Isidore Tanoe launches financial holding, Majoris Financial Group
The move comes weeks afterTanoe was replaced as CEO of Atlantique Finance.
South African mogul Jens Montanana’s Datatec acquires Northern Sky Research
Montanana’s 11.98-percent stake in Datatec is valued at $63 million.
Nigerian billionaire Mike Adenuga’s Conoil reports $1.34 million in profit in Q1 2022
Adenuga’s 74.4-percent stake in the company is worth $32.6 million.
Mauritian Espitalier-Noel family gains $5.3 million from stake in ENL
The Espitalier-Noel family is one of the wealthiest families in Mauritius.
Aga Khan IV to pocket $1.2 million in dividends from Nation Media Group
Aga Khan IV indirectly owns 44.7 percent of the company.
Kenyan tycoon Joshua Oigara’s KCB Group launches new subsidiary in Rwanda after merger
KCB Group operates as a holding company for subsidiaries across Africa.
Patrice Motsepe-linked Sanlam signs JV deal with Allianz to form largest pan-African insurer
The new entity is expected to have a combined total group equity value in excess of $2.1 billion.
Ivan Saltzman’s Dis-Chem to receive $1.48 million from SASRIA over civil unrest
The payment will be made as part of the healthcare firm’s insurance coverage in South Africa.
Africa’s richest man Aliko Dangote’s net worth rises by $1.57 billion
This is significantly greater than the $1.3-billion increase in his net worth in 2021.
Sibanye defends Neal Froneman, says $18.9-million salary is tied to reward
Froneman received $18.9 million in compensation in 2021.
Family of Kenya’s late President Daniel arap Moi will receive $470,000 in dividends from Standard Chartered
Shawmut Limited, the Moi family’s private investment firm, owns 1.03 percent of the Kenyan commercial bank.
Extremophiles dominate the African business landscape
In most countries around the world, family businesses are between 70 and 95 percent of all business entities.
Ugandan tycoon Charles Mbire’s MTN Uganda earns $23.7 million in profit in Q1 2022
The surge in earnings was driven by an 11-percent increase in service revenue and a 45-percent increase in data revenue.