Elon Musk buys Twitter for $44 billion, twice net worth of Africa’s richest man, Aliko Dangote
So far this year, Musk’s net worth has dropped by over $13 billion, while Dangote’s risen by $1.32 billion.
African Billionaires
Ethiopian tycoon Negusse Hailu recounts his experiences with EABSC
Hailu said he was fortunate to have influential people in his life who shaped his outlook on life and business.
Nigerian billionaire Mike Adenuga gains $5.2 million from stake in oil company
Conoil is a Nigerian petroleum marketing company led by Adenuga, who owns 74.4 percent of the company.
Moroccan Prime Minister Aziz Akhannouch loses $45 million from stake in Afriquia Gaz
Akhannouch remains one of the richest investors on the Casablanca bourse and one of Morocco’s richest businessmen.
Egyptian businesswoman Hend El-Sherbini to pocket $17.9 million in dividends from IDH
This is a quarter of the $70-million dividend approved by the board at the end of the 2021 financial year.
South African mogul Neal Froneman’s Sibanye-Stillwater approves new fund to drive R&D
Froneman owns a 0.074-percent stake in the company worth more than $10 million.
Johann Rupert-linked Grindrod is looking for buyers for its banking subsidiary
Grindrod is a global freight logistics and shipping services company.
Tunisian tycoon Abdelwaheb Ben Ayed’s Poulina Group posts $304 million in revenue in Q1 2022
Ayed owns a beneficial 3.4-percent stake in the conglomerate.
Egyptian tycoon Ashraf Sabry’s Fawry records over $13 million in net profits in 2021
Fawry is one of Africa’s leading fintech companies, offering more than 250 e-payment services.
South African billionaire Patrice Motsepe loses over $320 million in less than one month
Motsepe, the South African billionaire and current President of the Confederation of African Football (CAF) founded the mining firm in 1997.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $79.7 million in profit in Q1 2022
The result suggests that it is on track to deliver yet another record performance at the end of Q2 2022.
Tanzanian gold magnate Ketan Patel gains over $2.2 million in 81 days as Shanta Gold shares increase by 57.5 percent
The leading Tanzanian gold magnate owns a substantial 4.22-percent stake in Shanta Gold Limited.
Egyptian tycoon Hend El-Sherbini’s IDH reports $80 million in profit as COVID-19 tests drive growth
IDH is a leading consumer healthcare group in the Middle East and Africa.
Africa’s richest man, Aliko Dangote, gains $500 million in 14 days, as cement company shares skyrocket
His year-to-date wealth gains are now $1.33 billion.
Nigerian tycoon Obafoluke Otudeko gains $6 million in 17 days from flour-milling business, Honeywell
The recent increase in Otudeko’s stake can be attributed to a 13.9-percent increase in the company’s stock price.
Zimbabwean multimillionaire John Moxon’s son joins Meikles as an executive director
Meikles is a well-diversified conglomerate with holdings in hotels, retail, supermarkets, agriculture and financial services.