London-based Egyptian billionaire Mohamed Al Fayed has gained over $300 million so far in 2022
The $300-million wealth gains cement his position as one of Egypt’s wealthiest businesspeople.
African Billionaires
Egypt leads with seven billionaires, as Cairo reigns supreme as Africa’s billionaire city
Egypt’s seven billionaires account for $17.83 billion of Egypt’s $307 billion in private wealth.
Nigerian businessman Tony Elumelu’s UBA earns $100 million in profit in Q1 2022
Elumelu owns a sizable 6.39-percent stake in the company.
Kenyan businessman James Mwangi loses over $5.4 million from stake in Equity Group
As of press time, Mwangi’s stake in the Kenyan financial services group is valued at $52.81 million.
Egyptian multimillionaire Hassan Allam’s company is planning to build green hydrogen plants in Egypt
The plants will be located in the Suez Canal Economic Zone and along the Mediterranean coast.
Swvl, Egyptian startup led by Mostafa Kandil, acquires Turkish firm in $40-million deal
Kandil stated that with the acquisition of Volt Lines, Swvl will be positioned to deepen its presence in Europe.
Led by Tope Alabi, Nigerian fintech startup Afriex raises $10 million from institutional investors
Alabi and John Obirije founded the Lagos-based fintech startup Afriex in 2019. It is now valued at $60 million.
Madagascar’s richest man Ylias Akbaraly to acquire U.S. broadcasting company GatesAir
GatesAir has announced that Thomson Broadcast has inked a definitive agreement to acquire them.
Sibanye’s CEO Neal Froneman pocketed $19 million in remuneration in 2021
Froneman received a whopping $18.9 million in 2021.
Tanzanian billionaire Rostam Aziz lobbies AfDB to increase agriculture funding
The tycoon’s appeal was intended to assist the country in becoming a major food exporter.
Zimbabwean billionaire Strive Masiyiwa gains $1.7 billion so far this year
The billionaire has surpassed South African mining tycoon Patrice Motsepe as the richest Black man in Southern Africa.
Wealth among Africa’s HNWIs will reach $3 trillion by 2031, new report reveals
Total private wealth in Africa is $2.1 trillion, and is expected to rise by 38 percent over the next decade.
Nigerian tycoon banker Herbert Wigwe gains over $1.2 million in seven days
Four weeks ago, the bank completed its transformation from Access Bank Plc to Access Holdings Plc.
Court orders convicted Malawian tycoon Thom Mpinganjira to sell FDH bank shares
Mpinganjira was sentenced to nine years in jail last year for attempting to bribe judges overseeing the 2019 presidential election.
Modern African family’s cultures and wealth
A family business at its most basic format is an interaction of the business system and the family system.
Zimbabwean businessman Zinona Koudounaris gains over $245 million from stake in Axia Corp
The multimillion-dollar spike cements his position as one of the largest investors on the local bourse.