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.
African Billionaires
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.
Egyptian mogul Hani Berzi gains $23 million in 47 days from stake in Edita Food Industries
The gains are due to a double-digit percent increase in the company’s share price.
Tunisian tycoon Abdelwaheb Ben Ayed has lost over $2.8 million from stake in Poulina Group
Ben Ayed owns a beneficial 3.4-percent stake in the conglomerate.
Egyptian mogul Safwan Thabet to pocket $5.1 million in Juhayna dividends
The dividend will be paid from Juhayna’s retained earnings of $65.48 million.
Egyptian billionaire Nassef Sawiris loses $270 million in April
The loss is directly linked to the performance of the German sportswear behemoth Adidas.
Swazi billionaire Natie Kirsh loses $280 million in April 2022
The loss is due to a decrease in the valuation of his majority stake in Jetro Holdings.